We get a lot of questions about life insurance. Many revolve around how much is enough and how much does it cost. Those answers will depend on a variety of factors, so we invite you to contact us to learn specifics. We can, however, address the time in your life when having the most life insurances is most important. With young people waiting longer to get married, buy houses and start families, the twenty-year period when many have the most financial responsibilities is between the ages of 25 to 45.
During these two decades, consumers are likely to have the most debt, including credit cards, student loans, montages and car payments. They may also start adding the responsibilities of become parents, making plans for kids college funds and protecting their assets. This is also the time when incomes begin rising as employees become acclimated in their careers and seek job and career advances.
While the exact time period may shift a bit either way for you, this twenty-year period is the most critical time to have enough life insurance to cover final expenses, pay bills, make income and child care provisions, pay for potential medical expenses, pay off a mortgage and other consumer debts.
It is not unusual for that need to exceed a million dollars.
How does one afford that amount of life insurance? Well, the good news is that in your 20s and 30s, life insurance is affordable. This is particularly true with term life insurance and if you are in good health. You may be surprised at how reasonable a million dollars of term life insurance can be during this period of life.
If you are approaching or in that time of life where you have large financial responsibilities, contact us to see how we can help. Get the peace of mind you want and the financial protection your young family deserves with a no obligation, free life insurance quote today.