There are many great benefits to getting your life insurance in order while you’re still young and healthy. Those between the ages of 20 and 35 will not only get to enjoy far lower insurance premiums – because premiums are likely to go up as you age – but also the peace of mind, of knowing that they’ll be covered in the unfortunate event of permanent disability, or serious illness, and being rendered unfit to earn an income.
Many young working adults will prioritize medical cover over life insurance, and there’s nothing wrong with that at all. In fact, it’s a pretty smart move. Financial stability usually plays a key part in this decision. Life insurance is a long-term commitment; it requires the dedication and means to follow through, and most people will only be able to achieve this once they’ve settled into a career.
The older we get, however, the more expensive and the more difficult it becomes to acquire the life insurance or the medical cover that we need. There’s a far greater chance of developing troubling health conditions along the way, and applying for policies may prove tough with any serious pre-existing conditions.
Of course, this doesn’t mean that it’s a lost cause, and people of all ages should still consider getting these policies, and for many good reasons. In many cases, those with underlying health issues may face higher premiums, or may have to undergo a thorough medical examination, but it’s by no means an impossible task.
Those who live a healthy lifestyle – no smoking, modest alcohol consumption, getting enough exercise, keeping a healthy diet – will always enjoy lower premium rates, regardless of age.