Throughout your lifetime, you will face many important decisions that can have a lasting impact. Life insurance and when to get it is one of those decisions. Whether you live in Charlotte, NC, or Waxhaw, NC, determining the optimal age to get life insurance is a step we can help you with at Hausmann Insurance & Financial Services.
The Benefits of Getting Life Insurance When You’re Young
When you’re young and in good health, getting a life insurance policy is usually the last thing on your mind. For some, it may seem like an unnecessary expense that can be put off for another time. But there are clear advantages to buying a life insurance policy when you are young:
- A lower premium
- A locked-in rate
- Financial security for you and your family
- A lower chance of being denied coverage because of your age or health status
The Impact of Getting Life Insurance When You’re Older
If you choose to wait until you are older to get life insurance, chances are you will encounter higher premiums. You may also find it more difficult to get approved for a policy due to your age and any health issues.
If you are approved, the focus of the policy changes. Whereas a younger person will be establishing a stronger financial future, an older person’s life insurance policy may be used for other things, such as:
- Paying off debts, so family members are not left with the burden
- Final expenses for end-of-life costs
- Financial support for a spouse
- Estate planning
Contact our Team
At Hausmann Insurance & Financial Services, we can help get you started on the path to financial stability and peace of mind. Call us for more information.
