The best time to buy life insurance is: 1) when you qualify for it, and 2) when you need it.
Prices can be incredibly lower if you purchase life insurance while healthy, and also at a younger age. While young, it is hard to imagine being struck by illness, but I get requests nearly every day from people who experienced an unexpected health condition in the prime of life. In my opinion, you can never go wrong locking in a premium for a long period of time while you are young and healthy.
But what if you did not take advantage of that window of time, or were born with a health condition? You can still purchase a policy to fit your need. It may not be as much as you want, but you can get what you can afford.
The other part to "need" is to add life insurance when you have a life event such as the birth of a child or purchase of a home or business. Policies such as indexed universal life can even be purchased to prepare for retirement. Again, thinking ahead is the key. When the need becomes a panic situation, chances are that you would have done better purchasing life insurance earlier.
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Prices can be incredibly lower if you purchase life insurance while healthy, and also at a younger age. While young, it is hard to imagine being struck by illness, but I get requests nearly every day from people who experienced an unexpected health condition in the prime of life. In my opinion, you can never go wrong locking in a premium for a long period of time while you are young and healthy.
But what if you did not take advantage of that window of time, or were born with a health condition? You can still purchase a policy to fit your need. It may not be as much as you want, but you can get what you can afford.
The other part to "need" is to add life insurance when you have a life event such as the birth of a child or purchase of a home or business. Policies such as indexed universal life can even be purchased to prepare for retirement. Again, thinking ahead is the key. When the need becomes a panic situation, chances are that you would have done better purchasing life insurance earlier.