If you are thinking about getting a life insurance plan, it’s essential to know that there isn’t a set magic age for buying this coverage. Whole life insurance plans are best bought at the youngest age possible while term coverages are often purchased to offer protection for a specific time-constrained obligation. This may include providing a child’s college tuition fees in case you pass on before they get to college.

Some people choose to get both policies so that one portion can offer protection for the unknown future while the other covers different financial obligations that happen as the policy holder’s family grows. You can always get a life insurance plan from Cross Creek Insurance. We serve the entire Hope Hills, NC area and its environs.

What’s the best time to get a whole life coverage?

The perfect time to start a whole life coverage is when your kid is born. A whole life policy accrues value over time, so buying one for your child will give the protection they need during their later years. By the time your child is ready to leave home, the plan will have accumulated adequate funds that can be borrowed against the coverage to buy a house or overcome an unexpected hardship.

Basically, the younger you are when buying a life insurance coverage, the lower the premium costs will be. Since the average people’s lifespan has increased, the standard length of life insurance plans increased as well. This means that the risks of paying out a claim prematurely are lower today than before.

What’s more, there will be more time for a young one to pay premiums compared to a 60-year old person, meaning that the premium costs will vary significantly. But this doesn’t mean that old people shouldn’t get life insurance plans even if it’s for nothing more than paying for their funeral expenses when they pass on.

At Cross Creek Insurance, we can offer life insurance plans regardless of your age. Contact our Hope Hills, NC office today.