Everyone Needs Life Insurance: Tips for Finding the Right Coverage at Any Age

PRESS RELEASE: April 17, 2012 - At every stage of life, there is a life insurance policy that can provide peace of mind and security for the future. InsuranceHotline.com offers tips for choosing the life insurance policy that is right for every age group and every stage of life. From university students through seniors, life insurance is a necessity and buying the right coverage is easy with an understanding of current and future needs.

It’s not uncommon to hear people say that they don’t believe they need life insurance, especially young people who many not have dependants to leave behind. Unfortunately, it doesn’t matter what the age is of a deceased person; there are still funeral costs, and even the youngest may leave behind debts that will be a burden on family. Choosing life insurance is a smart move, and no matter the buyer’s age there is a policy that will fit. InsuranceHotline.com reminds insurance buyers to buy early, and buy right.

Young Adults: Looking to the Future

Young adults are the least likely to be giving life insurance any thought, but are at the prime time for purchasing a long-lasting policy. Because of their youth and general state of good health, young adults are eligible for some of the best rates on life insurance policies. It is a good time to invest in a whole or universal policy and lock in a low premium for the future.

"Young people may not have dependants now, but they are likely to in the future," says Tammy Ezer of InsuranceHotline.com "and buying now makes that coverage more affordable for the future." But preparing for the future is not the only reason to buy insurance at a young age. Many university students have loans that will fall to their parents to handle in the event of a tragedy. They may have other debts as well. And life insurance can also take away the burden of funeral costs.

Marriage and Children: Protecting Dependants

Getting married and having children are the two prime times for considering the need for life insurance. Indeed, this is the time in most people’s lives where the most hardship would result from a premature death. During these years, term life insurance is the best way to obtain a large amount of coverage at a reasonable premium.

Term life insurance can cover debts like the mortgage as well as provide for the education and care of children, and can be reduced when the need for higher coverage is no longer at its peak. This is also a good time to look at a joint life insurance policy to cover both spouses at once and provide for whoever is left behind as well as the children. For some, this is an excellent option that can save on premiums, but should be compared to rates on separate policies as well.

The Senior Years: Covering Final Expenses

For most seniors, the number one concern is leaving some money to cover final expenses so as to avoid burdening children and other family or friends with the costs. With many seniors no longer carrying mortgages and without dependants at home, smaller policies are a good choice and an affordable one. Many life insurance companies now cater to the senior market and provide excellent policies meeting their needs.

The sooner a senior arranges for a life insurance policy the better, since rates will rise quickly in the later years due to the higher risk of health problems. This is not the time to wait; buy as soon as possible.

At any age, life insurance is a necessity and can serve to protect loved ones from the many financial burdens following a death. Finding the right policy is a matter of understanding what the current needs are and purchasing coverage that meets them.