Why Get Life Insurance Now Instead of Later?

Talking about Life Insurance and what happens after you pass is never a fun subject.  In fact, most of us tend to put off this discussion as long as we can, but how long is too long?  Of course, we’d all love to have Life Insurance in place the day before we need it so we only have to pay one premium, but we never know when that will be. Due to the unpredictability of the future, there are many reasons why you should get Life Insurance sooner rather than later.  

  1. Protect your loved ones. You never know when the unexpected can happen. Accidents, new diagnosis and injuries occur every day. Do you want to leave your loved ones dealing with financial stress on top of the shock of losing you? It’s better to have Life Insurance in place years before you need it than a day too late.  

  2. Save money. Premiums are typically lower when you are younger. Plus, the cost of everything usually goes up, not down. So, the same protection today could end up costing you more whether it’s six months or six years from now.

  3. Get better ratings. Typically, the younger you are, the healthier you are. As you age, more health complications may arise, and you never know when that will happen. It’s better to purchase life insurance when you can lock-in lower rates for a longer term before you end up in a riskier category that’s more expensive.   

  4. Be insurable. Depending on your situation, health impairments and changing regulations could also cause you to be “uninsurable” in the future, which means it is either too expensive to insure you or it can be difficult to cover you at all due to pre-existing or chronic health conditions. 

  5. Ease the burden of your debts. Co-signers, joint account holders, spouses and creditors may be leery of you going further into debt. Knowing that you have a Life Insurance policy in place to cover this debt can help ease their mind and make the process easier on your business and personal relationships.

  6. Need to launch or grow your business.  Companies may want Life Insurance on key employees or executives whose loss may severely impact the business. In addition, potential partners and/or investors may shy away from investing in your business if you haven’t purchased Life Insurance to cover their investment if something happens to you.  

  7. Reduce Uncertainty with COVID-19.  We’re in a pandemic, and COVID-19 is still a relatively new virus, especially in the insurance industry. We’re not sure how Life Insurance companies will handle COVID-19 deaths, vaccination status, travel plans, long-term COVID-19 effects and more in the future.  Plus, it may affect how long it takes to get your application for Life Insurance processed and completed due to staffing shortages. In an uncertain world, it’s best to control what you can like getting a Life Insurance policy in place before it’s too late.  


You can calculate the proper coverage for you, check out rates from multiple providers, get expert advice and apply for term life insurance on our new Digital Insurance Platform.

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Insurance Products are: Not a Deposit; Not Insured by FDIC or Any Government Agency; Involve Investment Risk, Including the Possible Loss of Value; No Bank Guarantee. Term life insurance products are sold by Mid America Banking Insurance Services, Inc. (“MABIS”), an Iowa Bankers Insurance Services (“IBIS”) subsidiary, using National Producer Number-3196554. Insurance products, rates, contracts and features may vary by state and may not be available in all states, including New York. All quotes and estimates are non-binding and are not to be construed as a guarantee you will be able to purchase insurance. Neither Premier Insurance Agency, MABIS, nor any of their agents or representatives provide any legal, tax, or financial planning advice.