When is it too late to buy life insurance?

At Keystone Insurance Agency, LLC, we want to make sure all our clients in Columbus and Groveport, OH to understand that it is never too late to buy life insurance. You may get better benefits by using a different strategy, but there are always advantages to having a good life insurance policy.

Is it too late to buy life insurance?

The best time to buy a life insurance policy is at birth. Frequently, this is done by a grandparent who wants to give a thoughtful gift to the new grandchild, but anyone can do it for a newborn or child. When the policy is bought at birth, the price for the monthly premium is very low, and it will not go up during the policy owner’s lifetime. If the policy is a whole life policy, the money will add up, and the owner may be able to borrow against the policy later. This kind of coverage also carries death benefits, in case there is a tragedy and those kinds of expenses need to be paid.

As individuals get older, it is not as easy to acquire policies with such low premiums, but you can still lock in a price at any time in life. If it no longer seems prudent to purchase a whole life policy, you can purchase a term life policy. A term life policy expires as soon as the term is up, but it provides crucial protection in case of a tragedy, so loved ones won’t be left with unexpected funeral expenses.

If you are in Columbus or Groveport, OH and have any questions about life insurance or are interested in purchasing a policy for yourself or a loved one, please call Keystone Insurance Agency, LLC today to speak with one of our friendly representatives.