When Is The Best Age To Shop For term life
Buying Term Life Insurance in your 20s
It's a good idea to purchase cheap term life insurance in your 20s (even if you don't "need" it). The reason for this is that you present less risk to an insurer when you're younger and healthier, which is why you can purchase the most affordable coverage. For example, A 24-year-old man can purchase a 30 year, $500,000 Nation Wide Term policy for as little as $27.48 a month, so the younger you are, the longer your life expectancy, the lower the average life insurance cost may be.
Buying Term Life Insurance in your 30s
As you approach your 30s, life insurance becomes more important than ever. According to statistics, you'll likely be married, own a house, have kids, drive a few cars, and have plenty of bills to cover. It might be a good idea to reassess your life insurance needs in your 30s. Perhaps you need to modify your current term life policy. If you're older, making more money, or have a bigger family, you may need more coverage.Fortunately, Nationwide Term Life policies are still affordable in your 30s. For example, A 32-year-old woman can purchase a 30 year, $500,000 Nation Wide Term policy for as little as $31.94 a month. There is never a bad time to buy Term life insurance, but you can get more affordable rates at a younger age.
Buying Term Life Insurance in your 40s
Age is a factor to insurers, which is why you want to find an insurance provider with a variety of affordable life insurance options that align with your needs. If you are uninsured or underinsured, your 40s are a good time to adjust your life insurance needs before rates get too high. 40s are still a time when you might still be in excellent health. Therefore, affordable coverage is still attainable. For example, a 42-year-old woman can purchase a 30 year, $500,000 Nation Wide Term Policy for as little as $53.82 a month.
