Many people wait until they’re married or have children to look into life insurance options. The longer you wait, however, the more you’ll pay for life insurance costs. The best time to purchase life insurance is when you’re young, healthy and single to take advantage of lower premiums on your policy. Life insurance from Old Pueblo Insurance in Oro Valley, AZ offers a wide range of benefits to singles, families and seniors alike. Here’s why it’s better to purchase a policy when you’re young:
Life insurance rates increase with age. Every year you wait means you’ll pay a higher price for the features in the policy you desire. By obtaining a policy when you’re young, you can capitalize on lower premiums for the duration of your policy. If you’re healthy and have good healthy living habits, i.e. moderate drinker, non-smoker, daily exerciser, etc., chances are you’ll qualify for the lowest premium available for the coverage you want.
Buying life insurance early provides financial security for your future. You may be single now, but what about the future? By buying a life policy now, you can be prepared for when you get married and start a family. As you grow older and circumstances in your life change, you can have peace of mind knowing you have the financial security that life insurance has to offer.
Increased Cash Value
The cash value of life insurance grows as time goes by. If you purchase a whole life policy when you’re young, the premiums you pay towards this policy will accumulate a considerable amount of value by the time you’re old. You can cash in on this value to buy a home or even use it to supplement your retirement.
For more information on life insurance coverage and costs, contact us at Old Pueblo Insurance in Oro Valley, AZ.