When Is The Best Time To Secure A Final Expense Insurance Policy?

Written by Ross Quade Published: / Last updated:

Although no one likes to think about death or dying, it’s a reality that one day we all will have to face. And while we may never know when that day may come, it’s important to prepare for the future, at least for the sake of our loved ones.

Final expense insurance is an asset to those that we leave behind. Used to cover afterlife expenses and costs, final expense insurance< helps those we love most avoid the burden of paying the bill during a time of grief. If you’re like a lot of people through your question isn’t whether or not a final expense insurance policy is a worthwhile investment but when is the best time to make this investment. After all, are there any advantages or disadvantages to getting coverage this year versus five or even ten years down the road?

Absolutely! Discover why you may want to consider investing at an end of life insurance policy sooner rather than later.

Planning for the Future

If there’s one thing in life that is certain, it’s that the future is uncertain. What may come tomorrow is only our best guess, and while we may hope or desire for many more years, tomorrow is never a guarantee. So, does that mean we should live in a state of constant fear? Quite the contrary.

Planning for the future security of our loved ones helps to alleviate and reduce the fear by putting a plan into action. Rather than leaving the future to chance, you can put a policy in place that can provide protection even in the event the unthinkable were to occur.

How Soon is Too Soon?

Is there such a thing as too soon when it comes to purchasing a life insurance policy? If you ask most insurance experts, rarely. While you probably don’t need to invest in a policy in your early twenties, waiting until too far into your golden years isn’t a wise move either.

Sure, paying a premium every month might not seem attractive initially, but there are plenty of advantages to investing in a policy early on, especially if you’re in relatively good health. Moral of the story, when it comes final expense insurance there are very few cases in which you would not want to invest in a policy sooner rather than later.

SEE ALSO: Getting Ready To Apply For Final Expense Insurance? Here’s What You Need To Know

Advantages to Securing Early

In addition to safeguarding your loved ones against the expenses of paying for your funeral, you also are more likely to be offered lower premiums by insurers for securing final expense insurance early on.

While you hopefully will not need the policy for years to come, locking in an afterlife insurance policy sooner rather than later can help you save in the long run while also protecting your loved ones in the meantime.

Whether you are 50 or 80, exploring your options for final expense coverage is a wise move. Waiting to invest in coverage could lead to higher premiums as older individuals are often viewed as more expensive by insurers due to perceived risk. In addition, waiting to find a policy could leave your family stranded in debt if something were to happen before you were able to find coverage.

Securing a policy today can also build the policy’s value over time. In fact, with a permanent final expense insurance policy, your policy will build cash value over time that you can borrow against in a time of financial need.

While no one likes to think about their final days, no one wants to leave their loved ones with the burden of paying the bills in a time of grief either. Which is why there is no better time than the present to invest in a final expense insurance policy.

Featured image via WestchesterCountyLivableCommunities

About Prime Mutual
About Prime Mutual

Prime Mutual has been helping seniors compare the best final expense insurance companies throughout the United States since 2016. We believe in educating our clients, building trust, and assisting them plan for end of life expenses. With a growing population of seniors in retirement, it is more important than ever to have a financial plan in place to help struggling families honor their loved ones.

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