Life Insurance Policy 39 Year Old

What kind of life insurance should a 30-year-old buy? There are two types of life insurance that are commonly purchased: term and permanent. Term life insurance provides a simple, affordable way to help financially protect your family for a specific period of time – typically 10, 15, 20 or 30 years.. Most shoppers look for life insurance at age 39 so that they can lock in a low rate while they are young and in perfect health. Many parents will also purchase life insurance for their children at this age.. 30 to 39 Year Olds If you are in your thirties this is the perfect time to get life insurance - rates are still very affordable and long term coverage is easy to get. Maybe you just got married and are starting a family, maybe you want to make sure your kids have a place to live and have their college education paid for in case of your death, no matter the reason, you owe your loved ones peace of mind.. The cost of life insurance can average more than $126 per month for a standard 20-year term policy. Insurers will primarily base your life insurance rate on your health and age. Some additional factors include your weight, whether you smoke, your occupation and even your family health history..

If you find an old life insurance policy, how you go about determining if it's worth anything depends on whether it belonged to you or someone else. You'll need to first contact the insurer and see if the policy is of any use. The unclaimed property office may help if the insurer won't.. Whole life is the most common type of permanent life insurance. With whole life insurance, your premium payments remain the same over the life of the policy. You can choose how often you’d like to make premium payments, too – annually, semiannually, quarterly or monthly. Some whole life policies can be paid up after a certain number of years..

Waiting to buy will always be more expensive. For example, consider a 30-year-old who waits 10 years to buy a policy at age 40: A 20-year, $500,000 term life policy will cost about $100 more per year. By waiting 20 years until age 50, rates for a 20-year, $500,000 term life policy will more than triple.. A term life insurenace policy is only going to pay $10,000 whether you die in the first year or the 40th year. If you live beyond the term of the Insurance , it becomes worthless. Although, I'm not aware of any term policies that go beyond 30 years, so you probably have something different..