The reality is unless you have a terminal illness that will cause your death within months or days, it is never too late to buy life. Life insurance isn’t really about you, it is about your dependents. Even if you are elderly, you may have dependents who count on your income to survive. Talking to your local independent insurance agent will help you to understand what you need. In Memphis, TN, that agency is Tackett Insurance Inc.
Life insurance is the easiest to get and the least costly when you are young, which makes it the ideal time to purchase it. Whole life insurance stays with you for your entire life and if purchased when you are young, it will always be well priced. With term life, the policy has a term limit. You may buy it for a very good price, but when the 20 years of the term are up, you will lose that rate. You may be able to continue your policy, but the rate will be adjusted by your new age.
When it comes to the potential of being too late to buy life insurance, a lot will depend on your health. To get the best policies, you usually need to get a physical exam. If you have any issues, you could potentially be denied. Policies that don’t require a physical are available but are usually of a smaller payout amount and are more expensive.
If you are older and want to get a life insurance policy, talking to your local independent insurance agent is a good place to start. They represent a wide selection of carriers and can make sure you get the most for your money.
If you live in or near Memphis, TN, Tackett Insurance Inc. has a team of experts who can help you will all your life insurance needs.