When Is The Right Time To Take Out Life Insurance?

Life insurance can be a big thing to try and tackle on your own. The fact of the matter is that no one really enjoys thinking about what happens when they die. You may even be at the peak of your health right now. The question is, when is the right time to take out insurance? Is there even a right time to get insurance? 

As we get older in life, we tend to take on more financial commitments. Things like mortgages, having kids and getting married are all seen as part of growing up. Wanting to protect these things is only natural.

In this article, we’ll explore this question in detail. By the end, you’ll be able to make a clearer decision on whether or not it’s the right time for you. 

When is the right time to start thinking about Life Insurance?

Like with anything in life there’s no one size fits all answer. There are, however, some common times when people start considering it. Some common life events include having children, getting married or getting a mortgage. Another common one is when people progress into retirement, that’s when Over 50’s life insurance comes on the radar. 

Generally, you can think of it as when we have dependents, getting life insurance could be a good idea. A lot of us want to make sure that our loved ones are looked after when we pass away. Despite it being a time of grief, things like mortgages, debts and household bills still need to be paid. 

Everyone’s situation is different though. What is right for one person might not be right for you. Age is a big factor when it comes to life insurance. So, while people start to think about life insurance at certain times, age is a key factor to consider. 

How does age affect my life insurance?

As you may have already guessed the later you start to look at life insurance the more expensive it will be. Unfortunately, the older you are the more likely you are to pass away. That’s why it makes sense to think about insurance when you come into adulthood.


With some policies, such as term life insurance, if you secure a policy at a younger age you can get a larger benefit at a lower premium. It can be the difference between applying when you are 30 versus applying when you are 40. 

Are there any limits on when you can get life insurance?

While it might seem like life insurance companies are ready to take your money at any stage there are a few limits. 

You have to think of it from the life insurance company’s perspective. If you are at a time in your life when you are more likely to pass away then they might be more reluctant to insure you. This will depend on the life insurance company itself. 

As a general rule of thumb, you could say that if you are above the age of 80 life insurance companies might be reluctant to insure you.


On the other hand, you can't get life insurance if you're too young either. You must be over the age of 18 to take out a policy.

What happens if I didn’t get life insurance when I was younger?

The main thing is not to panic. There are plenty of options out there that don’t have to cost an arm and a leg. For example, over 50s life insurance is something that offers guaranteed acceptance if you are aged 50-80 and a UK resident. That means you won’t have to submit a medical. Of course, you have to bear in mind that some of the payouts for these policies are lower than other life insurance policies. 

Get Started Today With Choozi

Getting life insurance can seem like a long process. There’s no doubt that sometimes it can be easier to just not think about it. Generally, though, it can make sense to start thinking about it as soon as possible. While everyone is at different stages, the younger you start thinking about it the better. Search with Choozi so you can save money and get the right cover for your family. Using details you provide us with we search among leading UK life insurance providers. No matter what stage you’re at we can help find the right life insurance policy for you. 


Compare, choose and buy life insurance with Choozi