When Is the Best Time to Purchase Life Insurance?

Many people wait until a major life event—marriage, a new baby, or buying a home—before considering life insurance. But financial advisors often agree that when is the best time to purchase life insurance? The simple answer: the sooner, the better.

Why Timing Matters

Life insurance premiums are heavily influenced by age and health. The younger and healthier you are when you apply, the lower your monthly costs will be. Waiting too long can lead to significantly higher premiums—or even denial of coverage if health issues arise.

Best Times to Consider Buying Life Insurance

In Your 20s or 30s

Even if you don’t have dependents yet, this is often considered the ideal time to buy. Rates are at their lowest, and you can lock in a long-term policy before health changes or life gets more complicated.

When You Start a Family

Having children means new responsibilities. A life insurance policy ensures that your family is financially protected if anything happens to you.

After Taking on Major Debt

If you’ve taken out a mortgage, a life insurance policy can cover that debt, so your loved ones aren’t burdened in the event of your passing.

Don’t Wait for the "Perfect" Time

Trying to time the market or your life events perfectly can leave you underinsured when it matters most. If you’ve ever asked yourself when is the best time to purchase life insurance?, the answer is: before you need it.

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