Life insurance is a financial tool that provides protection when you need it.
Some people choose to buy life insurance when they purchase their first home and have a large mortgage loan.
Others may buy life insurance when they get married or have their first child.
Still others may wait until they get a big promotion at work or buy their first car and then purchase life insurance.
Usually, it's a good idea to consider buying life insurance when you realize you have a need for life insurance, when something in your life makes you ask yourself, is now the time for me to buy a life insurance policy.
Life insurance proceeds can be used for any purpose, so if you leave a life insurance policy to your spouse or family member, they can use the proceeds from the life insurance for any reason, such as, to pay for your burial, pay off your debt, pay off your home mortgage, provide living expenses for your family, replace your income, etc.
Just keep in mind, sometimes if you wait, you may not be able to qualify for life insurance when you need it most because maybe you develop a health condition or get sick.
Also, buying life insurance when you are young will allow you to lock-in rates that are lower because rates for life insurance increase with age.
Finally, make sure you compare multiple life insurance quotes among several leading life insurance companies before you buy, so you can find out which insurers may offer you the best plan at the best price.