Ryan Insurance & Financial Services
Nov 13, 2017
Do you wonder if you need life insurance, or wonder if your age or health make it a good choice for you?
As a general rule, it's best to purchase life insurance when you're younger and healthy. It makes sense that as we get older, life insurance companies view older potential policyholders as greater risks, and those risks are met with a higher premium. The younger you are when you secure the policy, the more affordable it will be. But no matter your age, if you need life insurance -- and it will help financially secure the future for your spouse and dependents -- you will find it to be worth the investment
While age is one of the primary factors in determining life insurance rates, there are others to keep in mind, too. Below is a list of items that typically affect life insurance premium calculations. Which of these apply to you, and which of these can you change?
As we mentioned, your age at the time of application for life insurance coverage is a critical factor. The number of years you'll be around to pay into the policy factor greatly into the policy rate, and some policies will become better options for you. If you're older, you may find that term life insurance is a better choice, for example.
Contact us at Ryan Insurance & Financial to learn more at 386-738-2000.