Turning 40

Why your plan to get healthier as you get older is a good one.

You might be telling yourself, I don’t plan to ignore life insurance forever, just for now.  Maybe you’re in a committed relationship, but you don’t have a kid yet, or maybe you have a kid, but don’t have kids yet, or maybe you have kids and just realized you have no spare time for anything, including sleep.  

If these thoughts feel familiar, you probably never needed a guide to help you ignore life insurance in the first place.  You’re already doing it, Congrats!

Year after year, a new reason to put off life insurance even though “you know you need it” will present itself.  To properly ignore life insurance it’s important you seize on these reasons immediately and put very little thought into it.

Somewhere around mid-life crisis time though, you might come around.  Hmm.  Yeah.  I really gotta take care of this.  By then millennials aren’t the “it” generation anymore, all anyone talks about now are those spoiled billenials.

This is where you plan to get healthier as you get older will come in handy.  Father time might be undefeated, but he hasn’t played you yet right?  Well, take a look at what happens to the cost of life insurance as you get older…

Average Cost for $250,000 of Term Life Insurance

  • Age 25-34 = $21/month
  • Age 35-44 = $28/month
  • Age 45-54 = $55/month
  • Age 55-64 = $114/month
  • Age 65-69 = $243/month
  • Age 70-79 = $445/month

Source: LIMRA 2013 U.S. Individual Life Insurance Annual Sales Supplement

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STAY AT HOME PARENT?

Based on information from the US Bureau of Labor Statistics, the value of work performed by the average stay at home parent is an annual salary of approximately $60,000 (Wages: bit.ly/HTBLI_momwages and Time: bit.ly/HTBLI_momhours). Eligibility, insurability, underwriting criteria and other factors may also apply.

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