When Should I Buy Life Insurance? 
Buy life insurance when you are ready to make a commitment . A commitment to whom , you say ? A commitment to the beneficiary . If the policy would be for personal use , that means to your spouse . Do n't buy the policy until you 're ready to make sure his or her future is secure . If the policy is for business use , then do n't buy the policy until you are ready to make sure the business is secure . If the policy is to be used as a charitable gift , then do n't buy the policy until you are ready to make sure that the charity close to your heart is secure . Why is commitment important here ? Because without it , a life insurance premium payment becomes just another bill . But , your life insurance policy is different . To get it , you will have to go through underwriting that is more thorough than anything else you will have experienced . Your current health ; medical history ; family medical history ; job ; hobbies ; travel habits ; and legal , financial , and motor vehicle records will have to be reviewed . Once you are approved for coverage , the only way you can lose it is if you stop making those payments . You would not want to go through that again if it could be avoided . If you remain committed to the security of your beneficiary , you will make sure that payment is always made . If you are ready for this today , then buy it today . 