when should i get life insurance

The best time to get life insurance is usually in your 20s or 30s when you are young, healthy, and premiums are at their lowest. Buying early locks in lower rates and offers more policy options. It is especially wise to get life insurance when you have financial dependents, significant debts, or long-term financial responsibilities. Major life milestones such as marriage, having children, buying a home, or taking on debt are good triggers to consider life insurance. Waiting until you are older generally leads to higher premiums and possibly reduced eligibility due to health changes. Even if single with no children, life insurance can cover final expenses and debts. Thus, buying life insurance as soon as you recognize a financial need or responsibility is usually best, particularly while young and healthy to benefit from lower costs.