When is the Right Time to Purchase Life Insurance?

Unfortunately none of us are going to get out of this life alive, and some of us will even die prematurely. That’s why it is so important to have the proper life insurance in place at the proper time in your life.College_graduate_students_620x350

Life has many transitional stages, and it’s these stages that should prompt you to step back for a moment and reflect on how your untimely death would affect those around you.

Some of these transitions in life include: graduating from high school, or college; marriage; buying a home; the arrival of children; a career change; Retirement Planning, and Final Expense Planning.

Graduating college students may need a $50,000 10 year term life policy to help cover the student loans. Especially if mom and dad cosigned the loans!

Newlywed couples buying their first home may need a $250,000 30 year term policy to cover the mortgage in case anything happens to the primary bread winner.

071The birth of your first child may be the perfect time to review life insurance options. Maybe for the first time you are now responsible for the care and protection of a dependent. A life insurance policy can give you that peace of mind of knowing that if you can’ t be there the child’s needs will still be provided for.

Couples planning for retirement may want to purchase an Indexed Universal Life Insurance Policy (IUL) because of the tax benefits that it provides. An IUL is also an excellent investment vehicle while it provides coverage for an unexpected death.

Life insurance shouldn’t be viewed as a product that you purchase once and then forget it. Different stages of your life require different types of life insurance. If you haven’t done so, call your agent today and schedule a time to review your life insurance needs. You will be glad that you did.

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