Is there an age limit on life insurance?

Discussion in Life & Health Insurance started by Adeal4u • May 9, 2012.

  1. Adeal4u

    Adeal4uActive Member

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    I was wondering when is a good time to get life insurance? Is it better to get it sooner, or should I wait until I get older?
     
  2. classicnyer

    classicnyerActive Member

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    Hands down, get it while you're young. By the time you're old, you'll probably have money (if you play your cards right) and you won't need it anymore. Not to mention, it will only get more expensive the older you get.
     
  3. Parker

    ParkerWell-Known Member

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    Classicnyer is correct. It's best to get life insurance when you are young and health. The better your health, the lower your rate. Depending on the insurance carrier, you can set up the insurance policy to be paid up by a certain age. Insurance is not an off the shelf product. It can be tailored to your situation. An insurance agent can really help you.

    Once you have it, don't let it lapse otherwise, you will have to undergo underwriting again. If you have developed any conditions, you rates will increase.
     
  4. chasityrobles

    chasityroblesNew Member

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    I suggest getting it young. I did and I don't have any regrets.
     
  5. Waynefire

    WaynefireActive Member

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    Get it when you are young. I had a policy, but had to cash out because I needed the money. Wish I had never done this before.
     
  6. mark28z

    mark28zNew Member

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    i think you got insurance early because your life is secure early and also you got a handsome maturity amount at old age which you can invest in any bussiness and also get free medical treatments.

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    #6Sep 15, 2012
    Last edited: Sep 22, 2012
  7. Abraham07

    Abraham07New Member

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    I agree with all of you guys. To get a insurance policy in young age is best but in teen age or at 18 or 20 is not good because at that time you don't have extra money for it because you don't have experience and also less skills to earn more money. So after 23 I think its good.

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    #7Dec 26, 2012
    Last edited: Dec 30, 2012
  8. Traveller

    TravellerMember

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    Whole life insurance is a form of life insurance which has a guaranteed level death benefit until death or age 100, which ever comes first. It also builds a guaranteed cash value which will equal the face amount of the policy at age 100. So if you have coverage of $100,000 and you are still alive at age 100, the insurance company will void your life insurance policy and pay you $100,000.
     
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