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Do you have life insurance? If not, you may want to consider purchasing a policy sooner rather than later. Many people make the mistake of assuming that life insurance is only needed for individuals who are sick or over 50 years of age. Life insurance is designed to give your loved ones protection if anything were to happen to you. There are many times when people wait until they are 50 before even considering life insurance. They then find out that their premiums are going to be much higher than they would have been if they had gotten the policy when they were younger. If you are considering the purchase of life insurance, here are few things that you need to know to determine if you should get a policy now or wait until you are older.

Children

If you have children, you should have a life insurance policy. If you were to pass away unexpectedly and did not have life insurance, your family would be forced to figure out how to live without the income you once brought into the home. This situation can be avoided by simply purchasing a life insurance policy. The policy will help replace the income that the household will lose when you die. This could help your loved ones keep their home, pay their bills, and have less worry.

Health and Genetics

It is easier for a healthy person to get low premiums for a life insurance policy than someone who is in poor health. Age and genetics can greatly impact the amount of money you pay for your life insurance premiums. It is best to get a policy while you are young and in great shape because you should be able to pass any health screenings or physicals with flying colors. If cancer, diabetes, or certain other diseases run in your family, getting a life insurance policy as soon as you can will allow you to ensure that you qualify for the best coverage possible. Once you have been diagnosed with any major medical issue, life insurance costs will be much higher.

Type of Life Insurance

Consider the policy that you want to purchase. There are many different types of life insurance policies available. It is best to talk with an agent to find out which option best suits your needs at the moment. Later on down the road, you can make changes to your policy to better accommodate your situation at that particular time. Having the right amount of coverage is essential to ensure that your family is provided for after you are gone. Give Regency Insurance Agency a call at 800-350-6876 to discuss your life insurance needs today.

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