Buying life insurance when you are young will give you the best price, and will enable you to get a policy before you have any health conditions that might arise later in life. Looking in a long term policy or permanent policy premium while you are young is a great idea.
Providing that you can justify the amount of coverage and you’re relatively health, the answer is yes. Life insurance cost coverage changes with each birthday, so purchasing what you can at a young age is saving you premium dollars in the future. It is so cheap that a male nonsmoking super preferred seeking $100,000 of coverage with ten year term life insurance will pay around $100 a year.
Life insurance is always cheapest now.
The exception would be a smoker who quits, then applies a year later. Of course going without insurance for that year carries the risk of dying during that time without providing for your final expenses, or the financial needs of loved ones. Do it now.
Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
The answer is “yes.” I have never met anyone who regretted starting an insurance policy. In fact most wished that they had started even earlier. There are two reasons for this. The premium is at its lowest and it allows you to establish the habit of putting that money aside each month. That last aspect could become the most important as many people actually save more money in their life insurance policies than they do elsewhere.
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The exception would be a smoker who quits, then applies a year later. Of course going without insurance for that year carries the risk of dying during that time without providing for your final expenses, or the financial needs of loved ones. Do it now.