• About Us
  • Testimonials
  • Great Articles
  • Quick Reads
  • Contact Us
  •   250-953-2307
  • |     604-484-6595

InsureBizz

Outstanding Services Specializing in Insurance & Investments

  • Insurance Options
    • Term Life
    • Whole Life
    • Universal Life
    • Mortgage Insurance
    • Critical Illness Insurance
    • Long Term Care
    • Visitors to Canada / Super Visa
    • Group Insurance
    • Disability Income Protection
    • Business Loan Protector
    • Business Overhead Expense
    • Key Person Protector
    • Disability Buy & Sell
  • Investment Solutions
    • Retirement Planning
    • RRSP
    • Tax Free Saving Account (TFSA)
    • RESP
    • Payout Annuities / RIF
    • Segregated Funds
    • Estate Planning
  • Book an Appointment

I’m only 28 years old and I never get sick. Why would I buy insurance now?

You are here: Home / Archives for age

In the years I’ve been working as an insurance advisor, I have helped clients work through hundreds of questions about their insurance needs. But one of the most common questions I get is “I’m only 28 years old and I never get sick. Why would I buy insurance now?”

Actually, this is the best time to get insurance. The younger you are and the healthier you are, the less expensive your insurance will be. In fact, the premiums you pay on a policy you obtain in your 20’s and 30’s (assuming you are healthy) can be less than $40 per month. As well, with many plans, you can secure your low rate for years to come by purchasing insurance and locking in the rate.

As we get older, our health risk factors increase, so insurance companies do charge higher premiums to account for this risk. If you wait until you are over 40 or 50 to purchase life or disability insurance, the premiums are going to be significantly higher than if you purchased in your 20’s or 30’s. Additionally, the odds of finding yourself with a pre-existing condition as you age are higher, also resulting in higher premiums or perhaps even exclusions to your policy.

Insurance policies make good financial sense when you are young. As we all know, accidents or illnesses can occur at anytime, and it is critical to ensure that you and your loved ones are protected. Even if you don’t have a family, should you suddenly pass away, your life insurance could be used to cover the estate expenses, funeral costs and more. Similarly, if you find yourself unable to work due to an illness, disability insurance can protect you until you transition back to work.

There are a multitude of reasons to purchase insurance – protecting your family, protecting yourself from a possible loss of income, a tax-sheltering strategy or even as an investment. Whatever the reason, the best time to buy insurance is when you are young and healthy.

Filed Under: Uncategorized Tagged With: age, disability insurance, life insurance

Featured Article

In what ways does critical illness insurance protect you?

It is common for everyone to know someone who is suffering from a dangerous illness like cancer, heart attack, or stroke. With these, there are so many diseases that drastically alter your life, most importantly, your financial situation. So, to keep yourself safe from this disaster and to save your financial balance, you should do […]

You may be Interested In

Ensure you Financial Independance
Contact Us

Testimonials

"Last year my mom was visiting from India and I called Alex to purchase Visitor's to Canada Insurance. He was able to provide me quick quotes from a few companies and I ended up purchasing a policy in 10 to 15 minutes, over the phone!"

- Raj. P -

The information above is intended as a summary only. Your policy will contain complete details on terms and conditions, including benefits and exclusions.

Get In Touch!

Alex Fariborz Akhavan

Offices
1540 Fort Street
Victoria, BC, V8S 5J2

#2020- 1020 W. Pender St, Vancouver, BC, V6E 3S7

Victoria 250-953-2307
Vancouver 604-484-6595
Fax 250-953-2302
Skype alexakhavan

alex@insurebizz.com

Let Me Contact You!

© 2019 Insure Bizz. All Rights Reserved.s