Tips for Buying Life Insurance in your 40’s

We can all thank modern medicine, food technology, and exercise science for slowing down our clock.  We’re living well into our 80s, 90s, and 100s these days.

I remember when I was 13 years old, and my dad turned 40 years.  I thought he was so darn old.  Well, sure enough I’ll be there in just 2 short years.  I feel like I’m 20 just about everyday, then I look in the mirror and remember the sad truth.  The good news of all of this is, I didn’t know diddly when I was 10.  Being forty these days is pretty darn great.  We can all thank modern medicine, food technology, and exercise science for slowing down our clock.  We’re living well into our 80s, 90s, and 100s these days.  Did you know if you are born today, you have a 50/50 chance of living until you are 100 years old.  What does all this mean, to Life Insurance companies, you’re a baby!  Take advantage now while they still consider you to be young!  Just like you feel!

• Term Rates are inexpensive

• • • We are supposed to die when we are around 80 years old.  If you are 45 years old, and want a 20 year term policy, then that will expire when you are 65.  Being that you should live until you are 80ish, your rates will be very low.  For $1,000,000 in insurance, it would probably be about $2-$3 a day.  I’m sure you’ve heard the commercials.  If you’ve got kids, this type of insurance is a minimum.  

• Your Life Insurance through work is not enough

• • • These types of policies are absolutely great if our employers offer this for their employees.  However, sometimes it does create a bit of false security.  The overwhelming majority of these policies is worth less than $100,000.  If you have kids, that might not be enough to send one of them to a 4-year university.

• If you have a current policy, you can buy more coverage now

• • • If you’ve purchased a policy in the past, and still have it, then that’s great.  I’m guessing in your current situation you have more income and cash on hand.  So, now would be a good time to get more coverage if your old one is running out, or if you now have kids and need more coverage.

• Shopping online eliminates a lot of anxiety

• • Nobody wants to talk about their death.  With the internet and phones these days, we can do our shopping at home in our underwear if we like.  You also get access to all the company’s rates by going through people like me who can shop over 50 companies at once.  The internet has certainly made this whole process easier.  Take advantage while you can!

Okay all you 40 somethings, what in the heck are you waiting for?  You’re young, it’s cheap, your family needs it if you’re gone, and most of you can afford it.  Get covered today!  Call me, we’ll get it started today.  Cheers,