Life Insurance in Your 30s 

Your 30s are likely to be the time that you’re hard into your career, climbing the financial ladder, and perhaps considering (or have already begun) starting a family. Life insurance might well be one of the furthest things from your mind.

Well, hold on for one minute. Because as soon as you have any commitments (partner, children, mortgage, or other debts) then life insurance becomes an absolute must-have.

The following details everything you need to know about taking out a life insurance policy in your 30s.

Life Insurance in Your 30s: What you need to know 

• The 30s sweet spot
• Why you should take out life insurance in your 30s

The 30s sweet spot 

Your 30s is one of the best decades of your life. You’ll likely have minimal health conditions, your career will be on the rise (with any luck you’ll be being primed for promotion or your own business will be flourishing), you’ve hopefully paid off some of your student debt, and you’ll be heading into that wonderful time of life when you’re beginning to have a little more liquid capital. 

It’s also the ultimate time to take out life insurance. Not only does it protect the ones you love but you’ll be a prime catch for life insurance companies. This means you’ll benefit from lower premiums that you should be able to fix for life, making financial planning much easier. 

Why you should take out life insurance in your 30s

The following are 5 of the greatest reasons why taking out life insurance in your 30s is a smart move:

1. Your responsibilities are increasing: Being in a relationship, buying a property, starting a family—there are many new stages of life that we typically take on in this decade of life. Life insurance ensures that, should the worst happen, those who financially depend on you won’t end up with debts they can’t afford. The right life insurance policy will mean that your dependents won’t have to worry about monetary outgoings, such as mortgage payments, childcare fees, medical expenses, and more.
2. Your debts will be covered: You’ll likely have various financial obligations, such as a car loan, student debt, consumer debt, and a mortgage. If you die, the right life insurance cover will mean these commitments aren’t passed onto your loved ones.
3. You fix your payments before age-related health issues strike: OK, so we’re not saying that everyone gets health problems as they get older, but the likelihood of this happening increases as each year passes. Taking out life insurance during your 30s reduces the chance that you’ll need to have a full medical examination and, even if you do. Having to pay higher premiums to cover any health issues.
4. Protection for your business: With more people running their own business or working in the gig economy, it’s important to consider what this would mean should you die unexpectedly. Succession planning is essential—having life insurance is a vital element of this and shouldn’t be overlooked.
5. Funeral expenses are covered: Much as you might not want to think about it, paying for your funeral is an expense you’d probably rather not leave to your family. Such costs can easily head skywards of $8K, but a quality life insurance policy will cover this.

Need Life Insurance and/or Medicare Advice? Contact Capita Today 

Financial experts, Capita, offer a world-beating service regarding life insurance and Medicare. Long-term, strategic planning at an age when you’re earning a rising income and have minimal health issues is one of the most advantageous things you can do for yourself and your loved ones. 

Visit https://www.capitafinancialnetwork.com/services/medicare-and-insurance today to begin the first stage of your life insurance journey and call to arrange a no-obligation discussion.