If you’re young and single, then getting life insurance probably isn’t on your radar. For the most part, that’s okay. However, if you’re thinking about getting married or starting a family in the near future, consider the benefits of getting a life insurance policy.
Here’s how to decide when it’s time for you to get life insurance.
Generally speaking, you should get life insurance when you have someone depending on your income. Those depending on your income could include children, a spouse or parents.
If you are going to have children soon, figure out your life insurance needs before the birth of your child. One reason it’s better to buy life insurance earlier rather than later is that it gets more expensive as you age.
Additionally, if you try to apply for life insurance after you’ve been diagnosed with a medical issue, you might not be able to get coverage at all. So, it is better to get it when you are young and healthy.
When you’re choosing a life insurance policy, make sure you’re getting enough coverage to pay off all your major debts. If you have a mortgage, car payments, and college loan payments, your policy should be able to handle these.
Remember, though life insurance is an important thing to have, not everyone needs it at the same time. Your age, family situation, and whether or not you have dependents are factors to consider. If it’s time for you to get life insurance, then trust the experts at John Scott Insurance for help. Contact our dedicated team to get the coverage you need today!