Right Age to Get Insurance

Discussion in Life & Health Insurance started by vida_llevares • Dec 2, 2012.

  1. vida_llevares

    vida_llevaresActive Member

    Joined:
    Oct 4, 2012
    Threads:
    57
    Messages:
    128
    Likes Received:
    1
    At what age should I get health and life insurance? Is there a recommended age?
     
  2. Parker

    ParkerWell-Known Member

    Joined:
    Mar 31, 2012
    Threads:
    38
    Messages:
    2,118
    Likes Received:
    59
    There really isn't a recommended age for life insurance. The best time to buy life insurance is during a major life change, marriage, the birth of a child, buying a home, etc.

    Health insurance is something that no one should be without. I think everyone should have health insurance coverage. No one should be without.
     
  3. Traveller

    TravellerMember

    Joined:
    Feb 3, 2013
    Threads:
    0
    Messages:
    68
    Likes Received:
    0
    Age is not the criteria.
    If you are the only earning member & there are people dependant on you, only then you require insurance.
    Another thing, purpose of insursnce is not investment.
    The thing to consider is what your dependants will get in case you die & not how much you will get back in case you survive.
    The thing to consider is 'Adequate Risk Cover'.

    'Adequate Risk Cover' is different for different families. Factors to be considered in order to figure out how much insurance you need:
    1. No. of dependants – Higher the no. of non-earning dependants, higher is the insurance need.
    2. Future expenses – They are usually education and marriages. No. of children will determine this expense.
    3. Debt – If you have borrowed for buying a home, your survivor has to repay it.
    4. Your present financial position – If you are very rich than you will require very little risk cover.
     
  4. Linky

    LinkyExpert

    Joined:
    Apr 10, 2012
    Threads:
    2
    Messages:
    546
    Likes Received:
    1
    Well, you should get yourself health insurance as soon as you can. As for life insurance, that i think you really need to invest in if you have dependents. With both, shop around and ask lots of questions so that you get more than adequate cover.
     
Loading...
Similar Threads - Right InsuranceForumDate
Buying One Insurance Plan Vs Buying Multiple Insurance PlanLife & Health InsuranceDec 24, 2017
Life Insurance Vs Saving - Which Is More Economical?Life & Health InsuranceNov 1, 2017
Does Your Medical/health Insurance Cover Dermatologist Appointments?Life & Health InsuranceOct 26, 2017