by Guest » Thu Mar 21, 2013 12:56 pm
I'm just 23 and recently joined hands with an organization. I take home decent amount at the end of each month. But since I have some near ones who depend on me, I was thinking about getting a life insurance. What is the ideal age of getting one and which one should I choose? Thanks in advance.
Posted: Fri Mar 22, 2013 12:52 am Post Subject:
But since I have some near ones who depend on me, I was thinking about getting a life insurance. What is the ideal age of getting one and which one should I choose?
You are currently at an "ideal" age. Your cost of insurance will be very low due to your age.Without knowing more about your situation, your income, your needs, or your responsibilities, I can say that your first glance should probably be in the direction of term life insurance -- you'll get the most amount of money in exchange for your premium dollars.
Most agents will attempt to sell you some flavor of Universal Life, but you probably don't need it. Again, that statement is general, and not based on any knowledge of your life insurance needs or objectives.
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