When to buy more life insurance?
Monday, July 20th, 2009
just wondering asked:
I remarried a couple years ago, and have a baby now. I need to get some more term life insurance. I’m 42, probably 10-15 pounds overweight, don’t smoke/drink. The catch is… my birthday is coming up in a few weeks, and right after that, I’m travelling outside the country. I thought I read somewhere that getting new/more life insurance just before travelling jacks-up the price, and I know the older you get, the more it costs. My question is: should I get it now (and pay extra coz I’m travelling, but pay less coz it’s before my birthday), or get it when I return (and pay less coz the travel is done, but pay more coz I’m 1 year older)?? Maybe another choice is to wait even longer til I get rid of the extra wait (to put me in a lower risk category?). Hope there’s some agent/broker out there who can answer or set the facts straight that I’ve got wrong. Thanks for your time and assistance…
Aaron
I remarried a couple years ago, and have a baby now. I need to get some more term life insurance. I’m 42, probably 10-15 pounds overweight, don’t smoke/drink. The catch is… my birthday is coming up in a few weeks, and right after that, I’m travelling outside the country. I thought I read somewhere that getting new/more life insurance just before travelling jacks-up the price, and I know the older you get, the more it costs. My question is: should I get it now (and pay extra coz I’m travelling, but pay less coz it’s before my birthday), or get it when I return (and pay less coz the travel is done, but pay more coz I’m 1 year older)?? Maybe another choice is to wait even longer til I get rid of the extra wait (to put me in a lower risk category?). Hope there’s some agent/broker out there who can answer or set the facts straight that I’ve got wrong. Thanks for your time and assistance…
Aaron