Ideal Age to Get Life Insurance

You hear commercials for life insurance for people who are 55 or older. However, you might not want to wait until you’re older. Although there isn’t a specific age when you should obtain a policy, you should take into consideration certain factors to determine the right time. At Michael Taylor Agency, serving Columbia, SC, and the surrounding region, we help people get life insurance when it’s right for them. 

Student Loan Debt

You may want to get life insurance if you’re in your 20s and have student loan debt, in particular, private student loans. Loans from the government are automatically dismissed when you pass, but private student loans aren’t always forgiven. If you have a type of loan that doesn’t go away when you pass, your mother, father, or whoever cosigned or is your next of kin will get stuck with your debt. 

You’re Married 

Married people should consider their spouse when deciding when to get life insurance. Would you really want to leave your wife or husband with your final expenses and debt and without your income? Ultimately, once you get married, you should get life insurance to protect your loved one. 

You Have Kids 

You don’t want your kid to get stuck with your final expenses and any debt you have. Plus, you want to make sure your kids are taken care of if anything should happen to you. While you might be young, you never know what could happen. Cancer or a car accident could take your life prematurely, and you could leave your child behind without any funds. Your partner could have the burden of taking care of your kids without your income.  

Get a quote for life insurance, no matter your age, by calling Michael Taylor Agency, serving Columbia, SC, and the surrounding region, at 803-849-8500.