When Should I get Life Insurance?

When you take a big-picture look at your life and the special people in it, you’ll probably realize that life insurance is a must-have.

And as your life evolves, your life insurance needs will evolve as well. Here are the key life stages when it makes sense to buy life coverage, along with the top reasons why it’s smart to get it.

Young and Single

When you’re young, on your own and out to conquer the world, life insurance might not seem like a huge priority. But getting life insurance can be advantageous, since premiums are based in part on your age. The sooner you act, the sooner you could take advantage of a lower rate. Also, if you’ve cosigned with a parent or someone else for things like college or car loans, the cosigner would be on the hook for the whole debt if something happened to you. Life insurance could help ease that burden in the event of premature death.

Getting Married

Finding someone special and tying the knot is a big milestone, and it’s also a good time to consider life insurance. As a couple, you both may be contributing to the household budget. But if one of you died today, your collective expenses and debts could be too much for your partner to handle. That’s where life insurance comes in — to help financially protect the one you love so much.

Starting a Family

When you’ve got little ones depending on you, getting life insurance is a no-brainer. The day-to-day needs could be difficult for just one person to handle in the event that one of you wasn’t in the picture anymore. For parents, life insurance is a savvy, crucially important way to protect your family’s financial future.

Retirement Years

By now, you’ve probably paid off the mortgage and other debts, and fewer people are depending on you financially. But life insurance can remain important for a number of reasons. Once you retire, you may lose life coverage that was provided by your former employer. Also, in the event of a death, a life policy can help replace income from pensions or Social Security that you share with your spouse.

Life insurance gives you peace of mind and confidence knowing that you’re financially looking out for the ones you love at practically every stage in your journey through life.


Life Insurance offered by American Family Life Insurance Company.



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