Life insurance isn’t something that most young people in Edmonton typically think of as a necessity. If you don’t have many assets, or any dependents to provide for, you might think that you don’t need life insurance at all until you reach a certain age. So what’s the best age to get life insurance? Keep reading to find out.
Life insurance in your 20s and 30s
If you are young and single, with no one depending on you to provide for them, you probably don’t need to rush out and buy a life insurance policy right away. But if you’re like most people, your 20s and 30s mark the time of your life when you may want to get married, settle down and start a family of your own.
If that’s the case for you, then it can be a good time to buy a life insurance policy and take advantage of the lower premiums you’ll be eligible for while you’re still young and in good health. The insurance quotes you’ll receive from brokers in Edmonton will be significantly lower if you buy now than if you wait until you’re older.
The best time to get life insurance, no matter how old you are, is whenever you have dependents to care for.
Life insurance in your 40s and 50s
In your 40s and 50s your life insurance needs may change as your children grow up and start having children of their own. You may have gained more assets over the years and have a stable career. You may also have a large mortgage to cover.
All of these factors influence which type of policy you need and the amount of coverage you require to provide for your spouse and dependents after you’re gone.
Your age, your health and a number of other factors go into determining the monthly cost of your insurance premiums. Visit the insurance brokers in Edmonton that you know will work to get you the best coverage at the lowest rates.
At HDF Insurance in Edmonton, we cover all of your home, auto, travel, business, health and life insurance needs. We work for you to find the best rates for the insurance solutions that fit your needs and your budget. Contact us today to learn more about all the different insurance products we offer or to request a quote.