One of most commonly asked questions regarding life insurance by people living in Arlington, TX is whether or not a person can purchase a policy once they get older. While it is not suggested to wait so late in life to buy life insurance, it is possible. In fact, no matter a person’s age, buying a policy is still an option. For now, let’s take a look at the reasons not to wait until you’re 50 to buy a life insurance policy.
The Older You Get, the Closer You Are to Dying
With each passing day, you are getting closer to dying and insurance companies know this. This is why they prefer you to buy a policy when you are younger. Not only is it beneficial to them, but it is beneficial to you because you can lock in lower rates. The younger you are, the lower your premium rate will likely be. Getting a policy when you are 25 versus 50 could save you thousands of dollars in premiums.
Your Health Becomes More Complicated the Older You Get
One of the primary factors that affect your life insurance rate is your health. As you get older, though, your health tends to start to go downhill. As you run into more health problems, the more costly your life insurance will be if you have yet to buy a policy. If you purchase a policy while you are young and healthy, though, you can lock in a good rate that won’t change based on changes that take place in your health.
To learn more about life insurance, as well as commercial insurance, please contact Stateline Insurance Solutions today serving the Arlington, TX area.