• Home
  • Get A Quote
    • Annuities
    • Automobile
    • Bonds
    • Business & CommercialImage of right arrow
      • Commercial Auto Insurance Quote
      • General Liability Quote Form
      • Business Owners (BOP) Quote Form
      • Builders Risk
      • Liquor Liability Quote Form
      • Workers Compensation Quote
    • Dental
    • Farm
    • Flood
    • HealthImage of right arrow
      • Health Insurance Quote
      • Disability Insurance Quote
      • Long Term Care Insurance Quote
    • HomeownersImage of right arrow
      • Homeowners Insurance Quote
      • Homeowner Flood Quote Form
    • LifeImage of right arrow
      • Life Insurance Quote
      • Term Life Insurance Quote
    • Motorcycle
    • Pet Insurance
    • Recreational Vehicle
    • Renters
    • Travel
    • Trucking
    • Vision
    • Watercraft & Boat
  • Customer Service
    • AutomobileImage of right arrow
      • Request ID Card for Auto Policy
      • Request Declaration and Coverages Page for Auto Policy
      • Send Declaration and Coverages Information to Lien Holder
      • Add Vehicle to Existing Auto Policy
      • Remove Vehicle from Existing Auto Policy
      • Add Driver to Existing Auto Policy
      • Remove Driver from Existing Auto Policy
      • Auto & Home Coverage Checklist
    • Business & CommercialImage of right arrow
      • Request ID Card for Commercial Auto Policy
      • Request Declaration and Coverages Page for Commercial Auto Policy
      • Add Vehicle to Existing Commercial Auto Policy
      • Remove Vehicle from Existing Commercial Auto Policy
      • Add Driver to Existing Commercial Auto Policy
      • Remove Driver from Existing Commercial Auto Policy
      • Request General Liability Certificate of Insurance
    • Flood
    • Health
    • HomeownersImage of right arrow
      • Request Declaration and Coverages for Existing Homeowners Insurance Coverage
      • Request Evidence of Insurance
      • Home & Auto Coverage Checklist
    • Life
    • MotorcycleImage of right arrow
      • Request ID Card for Motorcycle Policy
      • Request Declaration and Coverages Page for Motorcycle Policy
      • Add Motorcycle to Existing Policy
      • Remove Motorcycle from Existing Policy
      • Add Driver to Existing Motorcycle Policy
      • Remove Driver from Existing Motorcycle Policy
    • Other
    • Recreational VehicleImage of right arrow
      • Request ID Card for Recreational Vehicle Policy
      • Request Declaration and Coverages Page for Recreational Vehicle Policy
      • Add Recreational Vehicle to Existing Policy
      • Remove Recreational Vehicle from Existing Policy
      • Add Driver to Existing Recreational Vehicle Policy
      • Remove Driver from Existing Recreational Vehicle Policy
    • Renters
    • Vision
    • Watercraft & BoatImage of right arrow
      • Request ID Card for Watercraft Policy
      • Request Declaration and Coverages Page for Watercraft Policy
      • Add Watercraft to Existing Policy
      • Remove Watercraft from Existing Policy
      • Change Primary Operator on Existing Watercraft Policy
  • Claims
    • Automobile
    • Business & Commercial
    • Flood
    • Homeowners
    • Motorcycle
    • Renters
    • Watercraft & Boat
  • Blog
  • Make a Payment
  • Resources
    • Secure File Area
    • Refer a Friend
    • Important Links
    • Important Files
    • Insurance Glossary
  • About Us
    • About Etler-Kettenacker Agency
    • Location Map
    • Employee Directory
    • Partners
    • Customer Testimonials
    • Privacy Policy
  • Contact
    • Contact Us
    • Join Our Newsletter
Logo
Home > Blog > A Breakdown of Life Insurance Coverage by Decade
WEDNESDAY, SEPTEMBER 27, 2017

A Breakdown of Life Insurance Coverage by Decade

 

We all know we need life insurance, but coverage depends on a variety of factors; most notably, age.

Here's a breakdown of life insurance coverage by age:

In your 20s...

Life insurance may be the furthest thing in your mind during your 20s, but it shouldn't be. In fact, it's important to have life insurance if you've

  • have had kids
  • gotten married
  • provide financial support to a parent and/or spouse
  • have private debt, such as with student loans, a car or mortgage

And guess what? Life insurance when you’re young and healthy is less expensive, and can ensure that you benefit from a lower premium.

In your 30s...

When you've hit your 30s, you've likely had some major life milestones: purchased a house, had a few promotions or switched careers, gotten married or had kids. As such, it's more important than ever to make sure you have a life insurance policy that reflects these changes:

  • Have a new job? Job changes generally come with salary changes - so your policy will need to reflect your current salary.
  • Had children? Kids change everything, and you'll want to make sure your kids are protected should something happen. Life insurance can cover funeral costs and provide income to pay expenses after you’re gone.
  • Buying a home: Buying a home is huge investment. If something should happen, it's important to ensure your family can stay in their home.

In your 40s...

In your 40s, you're likely well established in your career... and your insurance needs to be in step with your current salary. However, you might also need to adjust because some of your expenses will have decreased: home mortgages, car payments, student loans and other debt might be paid off at this point.

In your 50s and up...

By this point, you're likely looking toward retirement - and perhaps an empty-nester.  Debts are likely paid off, making you more financially independent. However, on the other hand, there may be health issues or illness that's caused expenses and cost of living to increase. As such, it's definitely important to speak to your agent regarding you and your family's situation.

Whatever your age, it's always a good idea to sit down with your insurance agent to evaluate your individual needs.

Photo credit: Flickr/toufeeq hussain

Sources: AARP, Health Insurance for Older Adults | Consumer Reports, 4 Insurance Mistakes to Avoid | Farm Bureau Financial Insurance, Life Insurance Coverage

by Decade


Save
Posted 11:00 AM

Tags: life insurance, life insurance coverage, life insurance by age, insurance
Share |


NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2023
  • 2021
  • 2020
  • 2019
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011

  • insurance(49)
  • car insurance(29)
  • auto insurance(22)
  • safety(21)
  • homeowner's insurance(19)
  • save money(15)
  • policy(15)
  • insurance agent(13)
  • life insurance(11)
  • distracted driving(9)
  • deductible(9)
  • kids(8)
  • safe driving(8)
  • coverage(8)
  • cars(8)
  • pedestrian safety(7)
  • safeco(7)
  • premium(7)
  • homeowner's policy(7)
  • insurance policy(7)
  • home(6)
  • taxes(6)
  • texting while driving(6)
  • auto(6)
  • car(6)
  • fall(6)
  • summer(6)
  • technology(5)
  • kid safety(5)
  • liability(5)
  • homeowner(5)
  • flood insurance(5)
  • travel insurance(5)
  • homeowners insurance(5)
  • family(5)
  • spring cleaning(5)
  • back to school(5)
  • car safety(4)
  • self-driving car(4)
  • car seat safety(4)
  • small business(4)
  • car accident(4)
  • home insurance(4)
  • car seats(4)
  • driving(4)
  • road hazards(4)
  • online shopping(4)
  • halloween(4)
  • shopping(4)
  • tax season(4)

View Mobile Version
Social Social Social
7588 Central Park Blvd., Suite 219 | Mason, OH 45040
P: 513-984-0404 | F: 513-984-4347 | E: rachel@ekagency.com

Powered by Insurance Website Builder