When should I buy life insurance?


It depends on what its purpose is for. If it is used to help your significant other should you pass away prematurely, you should probably lock it down as soon as possible. It's often purchased following big life events, such as buying a house, getting married. Some people purchase it after the birth of each child. A lot of people buy life insurance to create a tax deferred cash accumulation vehicle because it can provide tax free income down the road.