The idea that you’d step out of education and straight away think of buying a life cover is insane to many-after all, isn’t this the age where you should be carefree and wild? True – it is, but does that mean you have to miss out on the deal of the century?
What is the best age to get a life cover? And why?
Acquiring a life cover as soon as you can will mean you receive the best deal possible for you- the perfect time to get life insurance is as soon as you think of it! As per the UK government, 18 is considered the earliest to have the responsibility to enter into long-term financial arrangements and so represents the youngest age possible to have an independent life policy. Therefore, if you are planning to get a life cover in your early twenty’s or even late teens(the perfect image of a risk-free life cover), that is the wisest decision of your life, at the same time making it a high level of risk for the insurance company. E.g., A policy taken out in your early twenty’s, the premiums for the same would be as low as 5 quid per month for over 100,000 quid in cover. Five pounds that’s it! Well, it is barely not more than a decent cup coffee, but it gives more than enough cover to your beneficiaries(ability to cover daily expenses, funeral and more).
Additionally, you are entitled to make some changes to your life cover policy (with no penalty)when you have a major’ life event’ as a part of the term of the policy- moments like marriage or childbirth is counted as ‘life event’.
There is no such age bar to get a life insurance in place, the earlier and healthier you decide the cheaper and best deals you secure.
Life insurance is all about future planning, so why not take it like that and take future planning to the maximum!
We would recommend you to talk to one of our advisers for life insurance quotes.
Any quote that your adviser provides you with will take into account your circumstances, your medical history, as well as your budget!
Call 011-3733-4610 – Monday to Thursday from 11.00 to 19.00 and on Friday between 11.00 and 16.00