When is the Right Time to Buy Life Insurance in North Carolina?

There is never a bad time to buy life insurance in North Carolina, but there are often better times to buy it. You don’t want to buy it just when you become ill, or when a financial crisis is on the horizon. You want to buy life insurance to prepare you for those times. 

At Don Allred Insurance, we want Burlington, NC residents to be ready for any life problem, regardless of what kind of life insurance you are looking for. It’s never too late to buy it, and there may be things going on in your life now that have you thinking about it.

Major Life Changes

When your life reaches a turning point that is celebratory, you are often going to start thinking seriously about your financial future. When you get married, have or adopt a child, or buy a new home, these are all common times people start thinking about life insurance.

Life insurance can cover a number of things in addition to death benefits and funeral expenses. It can cover basic needs for your family, pay off a mortgage, help you create a nest egg, or even pay property taxes. 

When you undergo these life changes is the best time to get life insurance. When you are younger and healthy, term life insurance is often the most appropriate life insurance that you need, unless you can afford to begin investing in your policy.

When to Buy Permanent Life Insurance

The best time to buy permanent life insurance or whole life insurance is when you can afford it. This kind of life insurance is an investment that serves as an asset almost as soon as you start to pay into it.

It offers a cash value that can be used to borrow against, or pay you in dividends after you have kept the policy up to date for some time.

It is a little more expensive than term life insurance for that reason, and worth it if you have the room in your budget.

Buy Life Insurance Today

At Don Allred Insurance we don’t want Burlington, NC to wait to buy life insurance until it’s too late. You’ll need a medical, and some underwriting if you are buying a policy with over $100,000 coverage.