Are You Between The Ages of 31 – 35 and Looking for Life Insurance?

.At this stage of your life you are most likely getting well settled into your career and have likely started a family and bought a home. You need to protect your family should something unfortunate happen.

That’s the best reason to keep reading and learn more about what type of life insurance to buy so your family can keep on going. It’s about giving your family security and financial protection.

Some Examples of Affordable Life Insurance

You might be wondering first off about how much life insurance costs. Well, it depends on the type you buy and the amount of coverage in your policy. But, I did some research and I have some quotes for what it would cost you monthly to buy a $100,000 term life insurance policy for someone in your age bracket.

The following quotes are for a person in good health and who doesn’t smoke. These quotes show what it would cost you monthly for a 10 year term, a 20 year term and a 30 year term.

$100,000 Term Life Insurance Quotes for Ages 31 – 35

Age                                 10 Year Term        20 Year Term       30 Year Term

31 Year Old Man                 $7.26                         $9.45                   $13.21
32 Year Old Man                 $7.27                         $9.47                   $13.48
33 Year Old Man                 $7.27                         $9.49                   $13.83
34 Year Old Man                 $7.27                         $9.50                   $14.09
35 Year Old Man                 $7.27                         $9.52                   $14.35

(Disclaimer – These rates are effective as of February 1, 2013)

Types of Life Insurance Policies for Someone Ages 31 -35

If you’re not sure what type of life insurance would suit your particular needs then I will explain the differences.

Life insurance comes in 2 main types which are known as term insurance and permanent insurance. Permanent insurance is further broken down into whole life and universal life.

Term Insurance

Term insurance is a life insurance policy that covers you for life but is sold in periods of time like the samples shown in the quotes above. There are other term options available because you can get a term policy to cover you to specific age in life such as age 65 which is when most people often retire from working.

Term insurance is ideal if all you’re looking for is income replacement. It can also be used to pay for your death and funeral expenses, pay off your mortgage, your other debts such as loans and credit cards. It is also a good option if you operate your own business and need some life insurance to cover your business debts or if you’re in partnership with one or more people.

Term insurance pays death benefits only. It is up to you to determine how much coverage you need and what you want the insurance to look after should die or come down with a life threatening illness.

The benefits are paid to your beneficiary as a lump sum and are tax deferred so your family can use the benefits right away to cover their most pressing needs.

Of all the life insurance policies, term life insurance is the most attractive because of it so affordable and the cheapest form of life insurance that you can buy.

The one thing you want to remember about term insurance is that it becomes more expensive as you get older. That is why it’s best to buy a longer term policy than a shorter term policy. The reason is because when you go to re-new a policy it becomes a lot more expensive to buy.

Permanent Insurance

Permanent insurance offers the same type of death benefits as term insurance but it comes with the additional advantage of providing you with a cash value accumulation feature which is based on interest or depends on how well the market performs.

A permanent policy is ideal if you are looking for a retirement savings, or to use for estate purposes, and is also ideal for setting up a trust.

Permanent insurance is more expensive than term insurance, and it is a long term investment.

If you want to learn more about the different policies available, I would be happy to explain the differences between a whole life policy and a universal policy.

How to Find and Buy Affordable Life Insurance

You always want to talk to an independent agent like myself.  We can access and research dozens of companies so you are assured we will find the best policy at the most affordable rates.  If you have health concerns, don’t let that dissuade you because we can give you valuable advice and help you to find a policy that suits you.

Whatever your needs or questions then please call 866-662-6903