When you think about life insurance, what do you picture? Do you see a grandfatherly figure who has lived a full life providing for his descendants? While there is some truth to this picture, this is not necessarily where the greatest need for life insurance is. At IAL Insurance, serving Indianapolis, IN and surrounding areas, we understand the importance of life insurance in financial planning, and we are happy to share our knowledge with our customers. As independent insurance agents, we represent many customers and can provide the insurance products that meet your needs.

The simple answer to when the best time to buy life insurance is before you need it and when you can afford it. These are both simplifications of a very complex issue.

When You’re Young

When you are young, you are less likely to think about life insurance or feel any urgency to buy some. On the other hand, life insurance is more affordable when you are young. As part of a long-term financial plan, this is the best time to buy at least a minimum amount of life insurance.

When You Start a Family

At the point in your life when you start to have dependents, it is no longer optional to have life insurance, it is a necessity. If you are lucky, you will get life insurance as part of your benefit package from your employer. That allows you to supplement that and not have to shoulder the entire burden yourself. Make sure that if something happens to you, your partner and children will be able to maintain the lifestyle that they are accustomed to. You need to plan this carefully and allow for the number of children and the number of years involved.

Contact our team at IAL Insurance, serving Indianapolis, IN and surrounding areas, when you have questions about life insurance.