Life Insurance Benefits: As a former life insurance agent, the hardest demographic to acquire were younger people. Understandable, they are young, healthy, and think it will be years before they need any type of insurance, least of which being life insurance. While life insurance may not be needed for years and years down the road, by not buying a whole life policy while they are young they can actually end up spending more on a policy later in life. Particularly if their health deteriorates, and may possibly no longer qualify for any type of affordable life insurance.

To demonstrate how much more life insurance can cost by not acquiring while young and healthy, let's take a look at an example. Let's say the person is a 25 year old, non-smoking female in excellent health.  If she purchased a $25,000 whole life policy with a twenty year payment plan, her cost could be as low as $45 per month, with a total expenditure of $10,8000.  But, let's say she waits until she's 50 years old to buy that same policy and; we'll also assume she's still in perfect health. The same policy at that age would cost her over $30,000 in total payments.  That figure could actually be higher, if her health is no longer perfect. Worse, if her health is at great risk, she may not even qualify for the policy. Instead, she may have to purchase a "guaranteed" life insurance policy, which starts out with a low, graded death benefit for the first two years of coverage. An example graded death benefit would be $500 of coverage for the first two years, at a monthly cost of $59.00.

Not only is life insurance more cost efficient the younger you are, let's not forget about the "unforeseen". Yes, accidents happen. Tragedies and fatal illnesses occur to people of all ages. By not having any life insurance, you are putting your loved ones at financial risk.

When is the best time to buy a life insurance policy? Now! You'll never be any younger than you are today.

If you don't want; or can't afford, a whole life policy, you can "rent" insurance by getting a Term Life policy.

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