When Should I Get A Life Insurance Policy?
A lot of people hold off purchasing a life insurance policy because they don’t think it’s a good idea at their age. You might ask, “when should I get a life insurance policy” or question whether you are too young or too old. The answer is that, with Infinite Banking, you’re asking the wrong question. You should be asking how soon you can get into banking. Maybe you should start today. The earlier you purchase a life insurance policy, the longer you can take advantage of the living benefits. Here are some things to consider about life insurance during various life stages.
In Your 20s
As a young adult, you probably aren’t even considering life insurance. However, it should be at the top of your to-do list. This vital financial tool contributes to the solidification of your future. Do you know about the Infinite Banking Concept (IBC) created by R. Nelson Nash? It is the thought process of creating your own personal bank to finance your life activities. It starts with obtaining a life insurance policy. The costs are low at this stage in your life, and the cash value of your policy will accumulate for many years to come. We at Factum Financial are skilled at advising the younger generation about the limitless benefits of a whole life insurance policy. Even if you are single with no debt and no dependents, an insurance policy still has advantageous factors for you. Life insurance isn’t just a protection for your death. It can help you live the life you want now.
In Your 30s
Are you still paying off student loans? Battling credit card debt that you can’t escape? Debt is common for individuals of all classes. If you have unresolved debt issues upon your death, a life insurance policy satisfies the payment of those debts. Don’t let your loved ones be held responsible for financial liabilities such as car and home loans as well as consumer debt. Be assured that your spouse and children will be taken care of financially. But don’t just prepare for death. Live well now by securing your financial freedom. With guidance from Factum Financial, you can use a life insurance policy to break free from debt, retain cash value, and grow your wealth exponentially year by year.
In Your 40s
At this stage in your life, you might have health insurance, car insurance, and homeowners insurance. Of course, you don’t ever want to use the benefits that come with those policies, but having them gives you peace of mind. That applies to life insurance as well. It has often been said that the only things certain in life are death and taxes. Prepare yourself for both with a life insurance policy from Factum Financial. It is a secure, stable option that benefits the loved ones you leave behind, and it is tax-free. Not only that, but you can retain cash value and set yourself up for retirement with a dividend-paying whole life insurance. With a policy from Factum Financial, you actually will want to use your benefits now!
In Your 50s And Beyond
If you are purchasing a life insurance policy for the first time at this life stage, you will be asked about medical conditions and lifestyle choices. Are you a smoker? Do you have any ailments? If so, don’t fret! That does not automatically disqualify you from being covered. When polled, 84 percent of Americans agreed that most people need life insurance simply for the death benefits. That’s not even taking into account the living benefits. Many providers, Factum Financial included, help you establish a whole life insurance policy that you can bank on, even for people 50 and over. You’re never too late to start experiencing financial freedom.
When you reach retirement age, your paycheck retires too. The income from your life insurance policy does not. The plans that you have made and dreamed of for post-employment can be implemented without stress or worry. Our team can show you how to begin a small business, purchase a new home or travel around the world with money from your policy. We strive to give our customers financial wisdom that they can pass on to their family and peers.
Contact one of Factum Financial’s wealth strategists at 480-525-8180 to get a jump start on your benefits today.
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