@hopelesslysaved No. Rates don’t spike at a certain point. They begin to go up more steeply as you age, but it’s not like they go up $1 one year and the next $100.
However - it IS a good idea to get some life insurance in place while young and before you “need” it.
I’ve sold life insurance for 19 years, and the number of times I’ve talked to people who need coverage, and it’s expensive because of their health or other situation, and would not have been a problem a year or two or three before, is astounding. Your health changes, your conversations with your doctor can have an impact, Etc. etc. and nausea.
Buying life insurance isn’t something you do once, and then never again. Think of life insurance like buying a car. You buy a small car when that’s what’s appropriate, and what you can afford reasonably. Then as you need more, you buy another small car, or you trade the small car and get a bigger car. And then another when you need another. I have three policies, all term, by the way, because when I was young, I didn’t need much, then I had kids, and I needed some more, and then I had more kids and the business, I needed a little more.
Bottom line is, get a little that is so inexpensive the 10 or 20 or $30 a month expense just doesn’t impact your life. And then get more as you need it. That way, if something happens and it’s way more expensive later or you are not eligible for coverage later because of a health condition, you at least have a little something in place.
For men, remember, once you start the process of having a baby, that process continues whether you are there or not.
For women, when you get pregnant, it reeks havoc on the body and can cause life insurance rates to go up because of complications, postpartum, depression, and all kinds of other stuff.
I hope that helps.
