By Team Member | October 22, 2020

When Should I Get Life Insurance?

Hi. I’m Felicia, customer experience manager at Tunnell and Associates in Northbrook. My question is, why should I buy life insurance when I’m in my twenties?

There are several reasons why buying life insurance when you’re young makes sense. First, protect your pocket. Typically insurance will never cost less than it does today. Most policies use age as a factor in pricing. Every year, the cost of insurance will typically go up, not down. Second, protect your insurability. No one expects to wake up tomorrow and find out that they have high blood pressure, diabetes, cancer, or some other disease. Although you can still obtain life insurance with some of these conditions, with others, you can’t. And the cost, if you can obtain insurance, will be higher.

A third reason to get life insurance when you’re young is to protect your loved ones. The proceeds from your life insurance can help pay off debt, whether it’s student loans, car loans, home loans, mortgage loans. In addition, think about your family having to pay your funeral expenses if you should, unfortunately, pass away prematurely. Would you want them to put the final expenses on their credit card and be reminded of this horrible event each month? Take the first step and talk to a financial representative today.

Call Tunnell Insurance Agency in Northbrook IL at (847) 402-5175