You may want to buy life insurance now if you have a reason for life insurance coverage, an actual need.

Many people buy life insurance now because rates increase with age, so, the sooner you lock-in your rate for life insurance, the lower the cost of your life insurance policy.

In addition, if you do have a need for life insurance, why procrastinate? Why not get the protection you need now, instead of putting your loved ones at risk, in case you die unexpectedly?

There are many reasons people c...
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Yes, you can purchase life insurance coverage on your parents.

You can buy a life insurance policy on anyone with whom you share an economic insurable interest, including your parents or spouse.

The parent or parents you wish to insure will  need to sign as the policy "Insured" on the application for life insurance coverage, and have to be mentally competent to do so.

In addition, your parents may need to answer some health questions, or take a medical exam to find out if they...

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My dad is 50 years old and my stepmother is 37, and he wants to purchase life insurance for her. He will pay for the life insurance policy and he is the beneficiary.

Also my stepmother is a housewife.

He was told that he cannot purchase life insurance for her, until he has the same amount of life insurance on himself.

Does this make sense?

No, this does not make sense. The amount of life insurance purchased on one person should not affect the amount of life insurance on ano...

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Yes, you may be able to purchase a life insurance policy on the life of a relative.

You can usually get life insurance on a relative, but even with relatives, some insurable interest must exist between you and your relative in order for you to buy life insurance on the relative.

For example, Nephew Steve cannot take out a life insurance policy on Aunt Amy unless Amy has been living with Steve, if Steve has been contributing to her financially, if Amy loaned Steve some money, or...

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The right time to buy a life insurance policy is when you decide you have a need for life insurance?

Many people decide to buy a life insurance plan when they experience a major life event, such as, buying their first home, getting married, starting a family, or experiencing the loss of a loved one.

However, if you are planning ahead for your financial future, and know you want to get married and start a family some day, you may want to consider buying life insurance while you are young and hea...
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Yes, you can buy life insurance for your spouse.

In order to buy life insurance you need insurable interest in that person.

Insurable interest means you stand to lose financially if the person dies, or you rely on the person for some means of financial support.

There does exist insurable interest between spouses, so you can buy life insurance on your spouse.

However, you will need your spouse's permission/consent,your spouse's signature on the application, and your spouse may have to answer some ...
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