A good age to get life insurance is when you are younger, as the premiums will be lower then. You will really notice the difference in rates for longer term or permanent policies. $250,000 of 30 year level Term will cost under $300 per year for a 25 year old male in Preferred health. At age 55, that same policy would cost nearly $2,000 per year for a man in Preferred health. However, at age 55 there is a greater chance of having developed some type of health condition, which can increase premiums or even prevent you from getting that much life insurance.
Therefore, it is best to get life insurance in your younger years, but any time you need it is a good time to get it.
Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
Most people I talk to wish that they had bought their life insurance a few years ago. One man recently was kicking himself around the block for not doing so. Obviously, the older you are the closer the company is to the day that they will have to pay a death benefit. In other words, as you age you become a greater risk to the company and the company must charge more to compensate.
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Therefore, it is best to get life insurance in your younger years, but any time you need it is a good time to get it.