When is The Right Time to Buy Life Insurance?

When you realize your death will negatively affect other people. That is the right time to buy life insurance.

Or…

You want to leave a lasting, positive mark on this world.

There are so many reasons to buy life insurance:

Do you have children?

Do you have a partner / wife / husband?

Do you own a house?

Do you care about your parents?

Do you have debt that needs to be paid?

Do you care about anyone but yourself?

Do you care about charity?

Do you want to save a species from going extinct?

Basically, when you want to be a human that cares about more than just for themselves is a perfect time to buy life insurance.

Remember life insurance is not for you… you’re DEAD!!! The money does not help you in the slightest. It’s for the people you leave behind. It’s for the charities you care about. It’s to make the world a better place.

Let’s imagine you’re 30 years old, you have no kids, no house and you really do not care about your parents. However, you love wild animals and the wilderness. You die and your estate gets paid $500,000. That money can be spent on creating a wilderness preserve or saving a species from extinction. You’re in the grave but still doing good. That’s a powerful position to be in….. dead happy some might say.

Life insurance lets you leave a legacy to the world.

Set up a scholarship for underprivileged children that gets them through school and into university.

Essentially, buying life insurance separates people that care from people that simply don’t give a shit about anything. No judgment there, just figure out who you are and then decide to buy life insurance or not.

Did you know that in Canada you can buy life insurance when you’re 31 days old? It’s true. You can. Well, to be honest you can’t do much at 31 days old, but parents, grandparents or guardians can buy life insurance for their precious bundles of joy. How cool is that!!!! This kind of life insurance is called a Head Start and it gives your kids an advantage over other children. This kind of life insurance has a cash value and can be used in many different ways to give your kids the edge over the competition. It’s an exciting topic that will be covered in the next blog. Or if your super curious, then send us a mail at: info@dropdeadlifeinsurance.ca

The best time to buy life insurance is when you’re young and health. The younger the better. You can buy life insurance when you’re 18 in Canada. That the best time to buy your first 20-year policy and it’s so unbelievably cheap. If you’re a girl your policy for $450,000 of coverage will be $19, and if you’re a dude it will be $26 a month.

So, at 18 you might not have kids and a house, but you for sure care about the environment or other humans, so get life insurance young. It will make you a better human than your friends. Then you can tell your witless peeps how awesome you are. Nice thing is, once you have educated them, they too can step up and get the coverage they need to make them and this planet a better place.

You’re still reading this, so it’s safe to assume you do care. Well done!! Now we need to figure out how to buy and what to buy. It’s really simple and cheap, so no need to get stressed. Basically, all you need is a policy that lasts for 20 years. That will cover off a lot of risk for a very small amount of money. Most Canadians buy $440,000 of coverage for 20 years. That will help if you croak during that period.

Another way to simply figure out how much you need is to buy 10 times your annual salary. So, if you make 100 grand a year, you need to buy a million dollars of life insurance. See, told you it was super simple.

If you’re a stay-at-home parent there is also a need for life insurance. The caregiver is a crucial part of the well being of the family and needs to be covered as well. If the caregiver dies, then who will look after the kids, make the home a home and all that good stuff? The parent with the salary will have to hire help, like nannies, housekeepers, and others to help out. This costs cash. Hence the stay-at-home parent has an actual annual value that can be attributed to his or her family. The general consensus is 5 times the salaried parents salary. So, if the main bread winner is making 100k a year then 500 grand for the stay-at-home parent is about the right amount.

Once you have figured out how much you need it’s time to find the best options. Once again this is super easy. 99% of term life insurance is the same. So shop on price. Buy the cheapest policy you can. It makes zero sense buying policies that cost more. Would you pay $2 for a bottle of water you can get for a buck? Of course not, unless you hate money and I think it’s safe to assume that’s not the case.

So, buy cheap, buy 20 years of coverage, buy 10 ties your salary.

Lastly, there is no need to speak to a broker. They are super annoying and add no value. Simply go online, answer 15 questions and you’re covered. The best and cheapest term life insurance platform in Canada is drop dead. They rock!! Even the name is the best. They are not only the cheapest and the best, but they price match and they have a FREE Will option as well.

So, you can go to one site and achieve three milestones in life:

1.) Buy the cheapest and best term life insurance

2.) Get a FREE Will

2.) Give to charity

I would say that’s a win, win, win for you!! 3 wins in one day. I wish every day was this easy.

Don’t wait until it’s too late. Become a legend today. Go and buy life insurance from Dropdead Insurance.

Author’s Bio

Colin Hegarty is a content writer for BreezeMaxWeb that helps businesses showcase their brand through enticing copy. When he’s not working, you can find him playing net in a local beer league or biking around the city.