When you are looking for life insurance at 31 years old you only need to be worried about one thing: am I going with the right company? We have put together a couple articles that cover the best life insurance companies in the U.S., including the top no medical exam life insurance. Give us a call today and see how we can help you find the best policy for your specific needs.
Life Insurance Thirty-One (31) Year Old.
So you’re 31 and you’ve begun thinking about getting life insurance. Maybe you’ve recently married, just had a child or have just begun getting your finances together. Whatever the reason is, you simply want to make sure that everything is in place just in case anything happens to you.
Well the good news is that you picked a perfect age to begin looking for life insurance. Buying life insurance age 30+ will generally be:
- Very affordable (see our life insurance rates by age chart)
- Simple to qualify for.
- Full of different options to choose from.
- See how affordable a million dollar life insurance policy is
Affordable Life Insurance for a 31 year old:
Buying life insurance at age 31 should be really affordable because at age 31 most individuals will be looking at purchasing a term life insurance policy. A term policy can provide coverage for the next 10, 15, 20, 25 or 30 years, depending on what term length you choose.
Most financial experts will recommend a term life policy over whole life policy. Why you ask? Simply because the term policy will be much more affordable and because it is generally assumed that an applicant’s insurance needs will change over the course of their life. Because the applicants life insurance needs will most likely change, buying a whole life insurance policy now is a less practical option.
For example, a 31 year old male in perfect health taking out a $250,000 20 year term policy would pay about $13 a month. And a universal life policy for $250,000 to age 100 would run a little over $77 a month. That same 31 year old male would only pay $20 a month for a non medical exam term life insurance policy.
Easy to qualify for:
Buying life insurance at age 31 should be easy to qualify for because in most circumstances, people who are 31 are generally in pretty good shape. They haven’t been diagnosed with conditions that commonly make buying life insurance either more difficult or more expensive. Conditions such as:
- High cholesterol.
- High blood pressure.
- High blood sugar (see life insurance diabetes)
Now if you have been diagnosed with one of these conditions already, it won’t be a real big issue, it just makes getting insurance now all the more urgent. The reason is, these conditions will worsen over time and may preclude you from getting life insurance at all. So the prudent thing would be to lock in now while life insurance is still inexpensive, rather than wait and pay a hefty premium down the road.
More options to choose from:
Buying life insurance at age 31 provides applicants with the widest variety of policies to pick and choose from. As stated before, thirty one year old applicants are generally in pretty good shape, which means rates are going to be low, which should make different types of life insurance options such as:
- Return of Premium Insurance policies.
- Whole life insurance policies.
- And Universal Life Insurance policies.
much more attractive options to consider. But don’t rule out a shorter term policy with a bigger face amount if that is what your family needs. Our team of professionals at TermLife2Go can help walk you through the decision process so you choose the best policy for your specific needs.
We know that for a lot of individuals, especially those who are just starting a family, having a “ton” of discretionary income simply isn’t a reality. So, despite the fact that you may have all the reasons in the world to purchase a term or whole life insurance policy right now, having the “funds” to do so just isn’t possible!
For this reason…
We’ve also chosen to write several articles sharing some of the knowledge that we have acquired over the years working with 1000’s of clients concerning how they earn a living.
You see, nearly every time we complete a life insurance application for one of our clients, one of the first questions that we need to ask is:
“what do you do for a living?” and “what would you estimate your annual income as?
Which means that over the years, we’ve become really familiar with a wide range of different career paths and opportunities that a person can take. Some of which you would probably never think of on your own!
And since we still have your attention…
One can assume that “most” folks who end up purchasing a term or whole life insurance policy do so, so that their loved ones would be protected “financially” in the event of their death.
But what happens if you get sick but don’t die?
Would your family’s financial future still be protected? Probably not. This is why we like to encourage folks to also take a look at some of our other articles that discuss other “types” of insurance policies as well so that regardless of what happens in the future, your family will be well prepared:
- Best Long Term Care Insurance Companies,
- Best Individual Short Term Care Insurance Companies,
- And the Best Disability Insurance.
Our number one goal here at TermLife2Go is to help individuals and families secure their own financial security and independence, we wanted to share with you what we’ve learned.