Here at the Martin Insurance Team, serving the greater Evergreen Park, IL area, one of the questions we are often asked is what age should someone begin to think about buying life insurance for themselves or for their spouses or partners. Unfortunately, there is no one size fits all answer and age alone should not be a determining factor for when a person should buy life insurance. Here is what you need to know about buying your first life insurance policy.
As a general rule of thumb, if anyone depends on you for your income or services you provide, you should have life insurance. For most people, this occurs when they move in with a life partner, get married or have a child. Without the income that you have coming in, someone else, such as your spouse or child, would be unable to live the life they have become accustomed to. Likewise, if you provide a service, such as watching your children rather than working, your spouse or partner may be put into a tight position if you were to die and they would have to pay for child care. As such, you should take into account whether anyone is dependent or reliant on you or the money you have coming in. If they are, now is the perfect time to purchase your first life insurance policy.
When you are ready to purchase life insurance in the greater Evergreen Park,, IL area, Martin Insurance team can assist you. Contact us today to inquire about various policies and let us help you to find the one that best meets your needs, including policy limits, terms, conditions and the cost of the policy.