The right time to buy life insurance depends on various factors. Those factors vary from person to person, family members, and financial situations. The best time to buy a term life insurance plan is the moment you have dependents which means family such as retired parents, children, or a financially dependent spouse.
Life insurance premiums increase as you age, therefore, buying it while you’re still young could help you to save money. The premiums might be low if you buy a term plan when you’re young. A term plan is the best if you’re looking for an average cost-effective and financial protection, financial planning plan.