Everyone should understand the basics of life insurance. What is the importance of it? When should you get it? How much should you get? Who should you get it from? A simple phone call with a few little questions and answers would benefit you greatly and save a lot of grief in your research. Let’s look at some of these answers now.
#1: What’s the value of the benefit of getting life insurance sooner than later? The key to that answer is this: all life insurance pricing is based upon your health. Your price will be better if you obtain your coverage at a young age.
#2: How important is your medical history? If you’re a younger person with no significant medical history, that means, no diabetes or treatments for heart or anything, you’re eligible for what we call the absolute lowest rates. But as we age, life and our health change, the rates change. Maybe you develop diabetes or some other condition. As your health changes, the severity of those changes affects your cost and even your ability to get life insurance.
#3: What is the soonest you can get life insurance? Some argue that you should get life insurance for a newborn baby. My answer is that you should get life insurance as soon as you can. I would say that anybody over the age of 20 should obtain life insurance.
#4: When is it essential to obtain life insurance? Definitely when you’re done with college, when you’re in your first career, when you’re first married, when you have your first dependent. Those are times when you need to make sure you have life insurance. Also, definitely, when you want to start your company, that’s when you want to start getting your life insurance secured.
Which Type of Life Insurance Should You Have?
There are two types of policies; one is called a term product and the other is a lifetime, universal life product. You should be researching those different kinds of policies and their different costs. We make it easy to get through this research. You just call us and have a little conversation with us. We’ll explain the differences and costs to make the process fast. Call us here at MBhealth, 314-544-5400 and we’ll get you started on the life insurance coverage you need.
