What Is The Best Age To Get Life Insurance Coverage?

Ross Quade | General | 28 Jan, 2016 | No Comments

Whether you are 65 or 35, there comes a point in life where you begin thinking about life insurance coverage. In fact, experiencing major milestones such as the birth of a child or marriage often prompt us to begin considering coverage.


However, it begs the question, is there an ideal age to get coverage? After all, are you really better off getting coverage early on, or are you better off postponing it as far off as possible?


While you might find answers across the board, the reality is that you’re better off to get coverage sooner rather than later.


Confused? Here’s what you need to know.


Is there an Optimal Time?

So if you are better off getting coverage sooner rather than later, is there an optimal age to invest? For example, is 25 the perfect age? How about 30?


Truth be told, there is no single perfect age when it comes to life insurance. Keep in mind though that being in your early twenties can help you qualify for some of the lowest possible rates. Maximizing on your options early on can help you secure a great policy while also saving you significantly in the long run.


Due to the fact that life insurance policies get more expensive with age, it often makes sense for younger individuals to secure coverage early on.


Factors to Consider

Curious what other factors besides your age could impact your life insurance options? While every insurer uses a unique set of qualifying criteria, here are some of the most common factors you will want to consider:



Expect to have a full medical exam before approval. The vast majority of insurers require a medical exam. While it can be tempting to skip out, doing so will only cost you in the long run in most cases. If you want to lock in the lowest rates, be sure to schedule an exam with your doctor.


Marital Status

Are you currently married or single? Your life insurance needs may change depending upon your marital status. After all, marriage marks a significant milestone in life, and as such should be reflected in your insurance.



While getting life insurance early on can certainly provide tremendous savings, smoking can still cause premiums to soar, even at a young age. If you are a smoker, be prepared to pay more for your coverage, even if you are in otherwise good health.



Do you currently have coverage from your employer? If so, you will still want to consider reviewing your life insurance options. Depending upon the type of coverage your employer provides, you may need more or less coverage depending upon your needs.



Are you currently caring for sick or aging loved ones? No matter whether you are taking care of an aging parent or a disabled sibling, it is important to take into consideration loved ones that depend on you. While you may be single, that does not mean you don’t have loved ones that require your support.


Types of Coverage

When comparing life insurance policies, you will also want to take into consideration the type of policy you want to invest in. For example, are you planning on using your policy as an estate-planning tool or simply to protect your growing family?


Depending upon your financial goals and needs, you will find that there are essentially two different types of life insurance policies to buy, term life insurance and whole life insurance.


Term Life Insurance

Considered to be the most affordable and straightforward type of coverage, term life insurance provides coverage for a set period of time. During that time, as long as the premiums are paid, coverage will not expire until the end of the policy. Often far less expensive than a whole life insurance policy, term life insurance is a favorable choice.


SEE ALSO: Buying Whole Life Vs Term and Investing Difference


Whole Life Insurance

While term life insurance certainly has its advantages, there are a few reasons why someone may want to consider a whole life insurance policy. Offering throughout the entirety of your life, as long as the premiums are paid, whole life insurance is often used as an investment and estate-planning tool.


What policy should you buy? More often than not, particularly for younger individuals, you will find term life insurance policies to be the most effective and affordable for meeting your needs.


Interested in learning more about term life insurance policies? Be sure to check out our Term Life Insurance Blog.


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