Who Needs Life Insurance? Do You Really Need Life Insurance?

Who Needs Life Insurance? Do You Really Need Life Insurance? As I previously wrote about in my blog post, When is the best time to buy life insurance? The best time to buy life insurance is when you need it. If you need it, the best time to buy it is now. It’s human nature to procrastinate. You may get a term life insurance quote estimated to cost $35 a month for a $500,000 death benefit. But you may say to yourself, “I’ll wait until next year, when my car is paid off and I have more room in my budget to buy life insurance. I’m healthy now, and my agent says it will cost about the same if I buy it next year, so if I wait a year or two, I can save $420 a year by putting it off.” Some people use this type of thinking to keep avoiding buying the life insurance they need, until its too late. Continue reading

1. When is the Best Time to Buy Life Insurance?

As I wrote in this blog post, Life insurance through work is not enough, personal finance experts, like Dave Ramsey & Suze Orman, recommend you buy an individual term life insurance policy. But does everyone need a term life insurance policy? If you need term life insurance, when is the best time to buy it? If you are like me, you get plenty of e-mail offers for term life insurance, from online insurance agencies, like Matrix Direct or Selectquote.com. Maybe you have pursued getting term life insurance quotes, or used online life insurance calculators & term life price comparison tools, like the ones at Term4Sale.com, to find the companies with the best prices for term life insurance, but decided to put off buying it. Continue reading