When is the Best Time to Buy Life Insurance?

When is the Best Time to Buy Life Insurance?

By Brendan White


I’ve been an insurance agent for 33 years.  I’ve seen what happens to clients when a loved one – regardless of age – dies and there is no life insurance.  They had put off buying it for one of many reasons such as thinking they were too young, too busy, they didn’t realize how inexpensive it is, or sadly they had a medical condition that prevented them from qualifying for coverage.

Bad things happen to children as well as adults.  We read the tragic stories in the newspapers all the time.  For those who do not have life insurance on their children, you are taking a risk that nothing will happen until after you or they decide to purchase coverage months or years down the road.

I think the 3 best times to buy life insurance are:

  1. As soon as it’s available.  Coverage can be purchased on a healthy baby as young as 15 days old.  You never know if the child could develop a life threatening illness or disease mere months after being born or in their early years.
  2. When a child goes off to college. This is a time when they start accumulating debt from student loans, car loans, or even credit card debt.
  3. As the need increases throughout life. Now there’s a mortgage, a couple of car loans, and a family that counts on you to be there.

Getting your child a life policy now can be a great help to their financial security in the future as the coverage limit and cash value can grow with them.  Call us to get the detailed information you need to make a good decision.

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