Generally speaking, it is best to get term life insurance while you are young and in good health. The same life insurance policy 10 years later can cost significantly more money.
The reason is simple - as you grow older, the likelihood for mortality increases. For example, a 23 year old is considered less likely to die than a 65 year old. That's why older individuals pay more for term life insurance coverage.
Because term life insurance premium rates are locked in for the entire time that the policy is in force, young people can often obtain a significant amount of coverage for as long as 20 or 30 years at an affordable rate. The lower rate stays the same for the duration of the term, even if their health declines.
You should also think about purchasing term life insurance when you:
But, everyone has options. The AG Select-a-Term® product allows you to choose the exact amount of coverage you need - from 10, 12 or 15 to 35 years in term life insurance! These expanded term lengths can help you to get the exact amount of coverage you need at a premium rate that is affordable.
Contact one of our licensed life insurance agents today to get your free term life insurance quote! Our life insurance agents can walk you through the process, asking the right questions to help you determine the appropriate amount of coverage that will fit your needs.