At what age do you get life insurance has a simple answer. You can get life insurance at any age. Your parents can get it for you the day you are born if they so choose.
Perhaps the better question might be when should you consider getting life insurance?
If you have a family, spouse or just children you should consider getting life insurance.
If you own a small business, have key employee's and/or a business partner, you might consider life insurance.
If your concerned about your estate or would like to build tax free income for retirement, you might consider life insurance.
You see, it really is not about your age so much but what is the purpose of the insurance. That said, the younger you are, the cost if insurance is less.
You can get life insurance at any age between 15 days olds and 90 years old. People choose to get life insurance when they become aware that their death would cause a tragic financial impact on the lives of others. There is not much they can do to lessen the emotional impact their death would cause, but they can lessen the financial impact through life insurance.
Licensed Life Agent, Life and Finance/ 50 States, New York
Many companies will start a policy from age 0 to 95. From age 0 to 25 the child is considered dependent upon the parents. The maximum amount of coverage is up to 50,000 until age 18 then a policy may be owned by the child or may still remains on the parents policy until age 25. Both at guranteed issue which means no one will be declined. Rates are lower and locked in at age 18 for the life of the policy.
Since there are only two guarantees in life, death and taxes, as soon as possible. Most parents purchase on a child at birth for two reasons. One to cover funeral costs if the unthinkable happens and two, to protect the child's insurability. If you do not have life insurance from childhood, the next time to purchase life insurance is when someone counts on you for either income or paying back a debt. Whether it is personal, such as loved ones like a spouse, partner or child, or a business partner that would lose financially if you were to die untimely, these are the situations to purchase good life insurance. The younger and healthier you are the better rate you can lock in for many years or the rest of your life. However, it is better late than never. Lack of life insurance can cause a whole host of financial problems for those left behind.
.JPG){kind=avatar}
Perhaps the better question might be when should you consider getting life insurance?
If you have a family, spouse or just children you should consider getting life insurance.
If you own a small business, have key employee's and/or a business partner, you might consider life insurance.
If your concerned about your estate or would like to build tax free income for retirement, you might consider life insurance.
You see, it really is not about your age so much but what is the purpose of the insurance. That said, the younger you are, the cost if insurance is less.