What IS The Best Age To Buy Term Life Insurance?

Purchasing term life insurance is a time in your life where you become more financially responsible. But how do you know what is the best age to buy? How old or young should you really be? The answers vary.

First , let’s consider….what will your final expenses look like. The average funeral costs around $10,000. Even if you aren’t married or have children, this isn’t a burden you want to leave on anyone. If you don’t have any dependents or financial responsibilities, you can probably forego term life insurance coverage. However, if you do have dependents, a home, college debt or other debt, you will want to get coverage regardless of your age.

We recommend purchasing term life insurance if you have a life milestone like getting married, having children, go to college and have student loans, buying a home, starting a business or having someone dependent upon you for financial support or suffer a financial loss should you pass away.

One thing to remember with life insurance, premiums increase as you get older. So, the longer you wait to get term life insurance, the more expensive it will be. But once you lock in your rate on a policy, it will not increase until the policy expires.

Waiting too long can have consequences, such as risk factors or medical problems, can increase the cost of your policy or jeopardize your chances of getting coverage at all.

To find out more about term life insurance, Call Advanced Insurance Concepts today and Jim Rooney will work with you to find the answer. Advanced Insurance Concepts works with a variety of insurance companies and all Medicare Advantage providers in Missouri and Kansas. He is licensed to sell Health, Life and Accident Insurance, so call Jim Rooney for all your insurance needs.