When Should I Buy Life Insurance?

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Buying life insurance is one of the most important decisions that you’ll make for your family. It’s vital that you buy the right type of insurance and enough protection for your family. One of the most common questions that we get, is “when should I buy life insurance?” It’s vital that you have life insurance when you need it, but you can’t predict the future, so how are you supposed to decide when to apply for a life insurance plan.

Most consumers put off buying life insurance until there is a triggering effect.  The most common triggers are:

  • New job
  • Loss of a loved one
  • Purchase of a home
  • Marriage
  • Birth of a child

So when should YOU buy life insurance?  My answer always is NOW.  If you’re asking yourself this question and reading this article, something has got you thinking about life insurance.  It may be one of these common triggers or it may be someone you love being financially dependent on you.  Whatever the reason is, the worst thing you can do is wait.  Here’s why:

The Younger You Are The Cheaper Life Insurance Will Be  

Every year that goes by, the cost of life insurance goes up due to your age.  Also, with the current market volatility, life insurers are required to keep higher reserves and therefore life insurance rates keep rising.  With both of these factors it’s safe to say, the longer you wait, the more you’ll pay.

The biggest factor that goes into calculating your insurance premiums is your age. The older that you are, the more money that you’re going to pay in monthly premiums. Applying for life insurance now could save you hundreds, or even thousands of dollars every year on your policy. Even if you don’t need life insurance right this moment, it’s a good idea to buy it a couple years earlier to save the money on the premiums instead of waiting and paying more later.

For example, let’s say that you don’t have any debt right now, but you plan on buying a home in the next year or two. While you have very little life insurance need right now, in two or three years, you’ll pay more for your coverage. You can save money on your policy by applying now instead of waiting those years. Additionally, you never know what’s going to happen in the future. So no matter if you are needing insurance for yourself or a life insurance policy on your parents; we can help you find the coverage you deserve.

Tomorrow’s health is guaranteed to no one.  You need to qualify medically for a life insurance policy. After you complete the initial paperwork for the insurance policy, the company is going to require that you take a medical exam (unless you choose a no exam policy) and the results from the exam are going to be ran through their medical underwriting. Your health is going to play a major role in your chances of being accepted and how much you’ll pay for your policy.

Don’t wait until your health declines and it becomes unaffordable or worst – unobtainable.  At RootFin.com we specialize in helping those with health issues find affordable coverage and all of them wish they would have taken care of their life insurance BEFORE they developed these health issues.  Remember, even Superman has his Kryptonite.

Timing is everything in life, and in life insurance.  Do your research, keep an open mind and speak with an independent and EXPERIENCED life insurance agent.  Tomorrow is promised to no one – make sure your loved ones are protected today.

Maybe you’re concerned about qualifying because you are needing high risk life insurance or affordable life insurance with no medical exam.  If so, we can answer your questions and help you get the coverage you deserve.

Getting The Most Affordable Life Insurance Policy

One of the most common reasons that people don’t purchase life insurance is because they assume that the plan is going to be too expensive, but it most cases, that couldn’t be further from the truth. There are several options for affordable life insurance coverage. If you want to get the cheapest life insurance, there are several things that you can do.

The first things that you should do is improve your health, and there are several different ways that you can do that. You should start a healthy diet and get regular exercise. Both of these can help you lose weight, lower your blood pressure, lower your cholesterol, and much more. All of these are going to work wonders on your health and keep more money in your pockets.

Another way to improve your health is by eliminating any tobacco out of your life. Being a smoker drastically raises your risk of having severe health complications later in life. If you’re listed as a smoker on your life insurance application, you could pay twice as much for your life insurance versus what a non-smoker is going to pay. If you want to save money on your life insurance, you’ll need to eliminate any of that tobacco.

The best way to ensure that you’re getting the best rates, regardless of when you buy the policy, is to work with an independent insurance agent. Unlike a traditional insurance agent, independent insurance agents don’t only represent one single company. Instead, our independent insurance agents represent dozens of companies across the United States. Working with one of our agents will help you save both time and money on your life insurance plan. Not only can we connect you with the best plan, but we can answer any questions that you have about life insurance.

If you have any questions or want to get the best life insurance policy for your loved ones, please contact one of our agents today. We would be happy to answer questions and ensure that you’ve got the best plan to fit your needs. It’s our goal to connect you with the best plan at an affordable price.

If you’re wondering when you should buy a life insurance plan, our agents can help answer those questions for you. Don’t wait until it’s too late to get the life insurance plan that your family is going to need. Not having life insurance coverage is one of the worst mistakes that you could make.

About Jeff Root

is the owner of rootfin.com. He's an independent life insurance agent who has helped 1,000's of consumers purchase life insurance online and over the phone.

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