When should you get life insurance? Simply put: as soon as possible.
Life insurance is important to consider regardless of how young you are, because even at 25 there’s a good chance you’ve begun accumulating wealth and assets. It’s not uncommon to purchase a house this early on in life, and the last thing you want to do is saddle your loved ones with repayments on your debts if the inevitable happens.
The number one reason for life insurance is for debt repayment.
Another thing to consider is your premiums: many wait until their late 30s and 40s before they begin shopping around for life insurance. But the reality is your premiums are much more affordable when you’re young and healthy.
And there’s no guarantee a health condition won’t surface as you age, which will assuredly increase your premiums and potentially even render you uninsurable.
So if you haven’t explored your options, think about getting started. Give yourself peace of mind today, and a secure future for your loved ones when you’re gone.
Mick Jackson is an advisor with Assante Capital Management Ltd. Is a member of the Canadian Protection Fund is registered with the Investment Industry Regulatory Organization of Canada.
Please contact me @ (519) 332-4100 or email me at [email protected] to discuss your circumstances prior to acting on the information above.
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