You are in age 30s something, and wondering whether or not to buy an insurance? At this period of life, you may consider buying a house, start your own business, get married, or have a common partner, and have children. To come along with these new changes, life insurance is kind of peace-of-mind pill, so you don’t have to worry much about what happen to others or your dependents if you accidentally pass away. It’s up to your financial situation to decide the coverage you would go with. But if you fall into one of these categories, you should seriously think about having life insurance.
You are having a long term relationship No matter if you are married or partner-in-common. As long as you are the main source of income for your family, the insurance can help with financial protection for your loved ones.
You own a home. Buying a house is one of big step in your life. Aside from mortgage, you also have to pay for many other things related to you house like maintaining fee, utilities, or landscaping. The insurance can cover the balance of your loans and other expenses to keep your love ones protected.
You have other debts. When saying debts, we mean like credit cards, student loans, car loans, and may be loans for your business. It’s not surprise for Canadians to have these debts, especially in this range of age, your needs of buying thing just increase. In the situation, you pass away, even without dependent children, your love ones will be affected by it. Whatever the reason is for your debts, it will never goes away after your death.
You have children. It’s definitely a yes to buy life insurance to keep your family maintain the current lifestyle when you pass away. Once you have kids, there are many expenses involved like tutor, childcare, food, clothes, university or college fee, activities, if you are gone, who will cover for all these expenses?
You want a good deal. If you are looking for a great deal, then this is the right time to purchase for your life insurance. Your age is a major factor impacts your premium. If you are younger and healthier, the less you will have to pay monthly. This is a good time to lock for low rates insurance in the next decade or 20, 30 years. Insurance is cover for unexpected situation happen, even you are young and healthy, and you never know what will happen tomorrow. So when you can cover your family with good deal, why not?