No one wants to think about their own death. This makes buying a term life insurance policy an easy thing to put off. Plus, the whole process takes longer than simply making a phone call in and closing the deal right then. The long process, the medical exam, and and the fact that the typical buyer probably really doesn't want to think about this, can combine to discourage him from getting life insurance sooner rather than later.
It is a mistake to put off life insurance. There are risks associated with waiting. Obviously, there's always a chance the procrastinator may die before he buys a life insurance policy. People die during both times of prosperity and recession. Waiting for good times may leave your family unprotected at the worst possible time.
More likely, medical problems could surface before the term life insurance is bought. Many chronic illnesses may begin to rear their ugly head during one's 30s and 40s. Having a pre-existing condition can greatly increase your life insurance rates.
So does getting older. In general an older person in the same general health is going to pay more for term life insurance. Even if you don't get unlucky, you will end up paying more longer you wait. If you have a need for life insurance, you aren't doing yourself any favors by waiting.
It is a mistake to put off life insurance. There are risks associated with waiting. Obviously, there's always a chance the procrastinator may die before he buys a life insurance policy. People die during both times of prosperity and recession. Waiting for good times may leave your family unprotected at the worst possible time.
More likely, medical problems could surface before the term life insurance is bought. Many chronic illnesses may begin to rear their ugly head during one's 30s and 40s. Having a pre-existing condition can greatly increase your life insurance rates.
So does getting older. In general an older person in the same general health is going to pay more for term life insurance. Even if you don't get unlucky, you will end up paying more longer you wait. If you have a need for life insurance, you aren't doing yourself any favors by waiting.
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