Should you wait to buy your life insurance until later? That is a good question and gets to the fundamental purpose of the death benefit. Of course, if you know that you will be healthy and/or still alive and able to qualify down the road than you certainly can wait. The problem with that approach is that you never know what the future holds. It can possible save you a few dollars in premiums for the few months that you wait, but it is not worth your families future. The insured rights the small premium check and the client’s family would stand to get a big check.
The natural inclination is to put insurance off and sometimes buy it in a more reactive way. For example, I hear from clients all the time that they decided to finally move on buying it because a friend died or got sick. Another benefit to buying it is the benefit of locking in to your current age. This is important for term insurance and tremendously important with permanent insurance. With whole life insurance you buy in at whatever age you are and the premium remains level for the life of the contract. Besides that, the sooner the policy gets started the more opportunity for the cash value to build up.
To receive a free quote go to www.paramountlifeinsurance.com. Take advantage of your health if you have it.