The right time to purchase term life insurance is when you have a need for protection that will last for a period of 30 years or less. The younger and healthier you are when you buy your policy, the lower your annual cost of coverage.
There are several major life events that may give rise to the need for life insurance protection, including when you decide to get married, start a family, buy a home, a promotion at work, or after the passing of a loved one.
However, if you have anyone who relies on you for financial support, term life insurance can help to provide your family with financial security for their future, by helping to replace your income which they rely on to maintain their lifestyle.
Here' a checklist for buying a term life insurance policy.