When you’re young and healthy, life insurance is often the last thing on your mind.
You’re building your career.
Maybe you’re buying your first home.
Maybe you’re raising children or growing a business.
But here’s the truth: the best time to buy life insurance is when you don’t think you need it.
Because life insurance pricing is based primarily on two things:
- Your age
- Your health
The younger and healthier you are, the lower your premium — and the more options you have.
The Cost of Waiting: A Real-Life Story
Recently, I spoke with a very kind 70-year-old gentleman. He had just purchased a home.
- Mortgage balance: $300,000
- Home value: $400,000
- Loan term: 30 years
On paper, it looked great — he had equity.
But here’s what he hadn’t fully considered:
- His children live out of state.
- They do not have the financial ability to take over his mortgage.
- If he were to pass away, the loan would still need to be paid.
When mortgage payments become delinquent, the lender begins the foreclosure process. If the family cannot quickly bring the loan current, they risk losing:
- The home
- The equity
- Thousands in legal fees and penalties
At age 70, obtaining enough life insurance to pay off a $300,000 mortgage is extremely expensive to the point it does not make sense.
He waited too long to secure affordable protection.
A Compromise: Creating a Safety Net
Since paying off the entire mortgage wasn’t financially feasible, we structured something different:
We created a policy that would provide 18 months of mortgage payments.
Why?
Because that gives the family:
- Time to market and sell the property
- Time to keep payments current
- Time to preserve the equity
- Time to avoid foreclosure and legal costs
Was it perfect? No.
Was it responsible? Absolutely.
His children will be grateful that he at least created a financial cushion to protect them from chaos during an emotional time.
But had he purchased coverage at 30 or 40?
The full mortgage payoff would have been affordable.
Why Life Insurance Is Cheaper When You’re Young
Life insurance companies evaluate risk. As we age:
- Blood pressure rises
- Cholesterol increases
- Diabetes becomes more common
- Heart conditions develop
- Medications multiply
Each condition affects pricing. Multiple conditions can limit eligibility entirely.
A healthy 30-year-old might qualify for a large term policy for a surprisingly low monthly cost.
That same policy at age 60 or 70 can cost several times more — if it’s even available.
You will never be younger or healthier than you are today.
Term Life Insurance vs. Permanent Life Insurance
When planning properly, both types of policies serve important roles.
Term Life Insurance
Term life insurance provides coverage for a specific period (10, 20, or 30 years).
It’s ideal for:
- Paying off a mortgage
- Protecting young children
- Replacing income
- Covering business debts
When purchased young, term insurance is very affordable and allows you to secure large amounts of protection.
Permanent Life Insurance
Permanent policies (such as whole life or universal life) are designed to last your entire lifetime.
And here’s the key:
Death is not a matter of “if.” It’s a matter of “when.”
A permanent policy ensures that whenever that day comes — whether at 45 or 95 — your family receives a benefit.
Locking in a permanent policy while young guarantees:
- Lifetime coverage
- Lower locked-in premiums
- Insurability before health changes occur
Senior Citizens Who Waited Too Long
Over the years, I’ve spoken to many seniors who:
- Want $100,000+ in coverage
- Are on fixed incomes
- Have multiple health conditions
- Expect coverage for $50 per month
- Think they are healthy even after listing all their medications
Unfortunately, that is not how life insurance works.
At 75 or 80 years old, premiums are significantly higher because the risk to the insurance company is higher. Many are shocked to learn the cost.
The heartbreaking part?
Most of them say:
“I wish I had done this when I was younger.”
Life Insurance Is Not About Making Your Family Rich
It’s about protecting stability.
The goal is not to create wealth from tragedy.
The goal is to:
- Keep the mortgage paid
- Keep the lights on
- Eliminate debt
- Preserve dignity
- Provide time to grieve without financial panic
Financial stress during a time of loss can permanently damage families.
Life insurance prevents that.
The Added Advantage: Living Benefits
Many modern life insurance policies now include living benefits.
This means you may be able to access a portion of your death benefit if you are diagnosed with:
- A chronic illness
- A critical illness
- A terminal illness
If you are too sick to work, these funds can help cover:
- Mortgage payments
- Medical bills
- Household expenses
It transforms life insurance from “something that only pays when you die” into a policy that can help you while you are alive.
The Smart Strategy: Layer Your Coverage
For many families, the ideal plan includes:
- Term insurance for large debts and income replacement
- Permanent insurance for lifetime protection
- Policies with living benefits for added flexibility
When you put this plan in place early, it costs significantly less — and gives you peace of mind that cannot be measured.
Don’t Wait Until It’s Too Late
The 70-year-old homeowner I mentioned did the best he could with the timing he had left.
But imagine how much easier it would have been had he protected that home decades ago.
If you have:
- A mortgage
- Children
- A spouse
- A business
- Or anyone who depends on your income
Then life insurance is not optional. It’s responsible planning.
And the best time to act is while you are young, healthy, and insurable.
Take the First Step Today
You don’t need to overcomplicate it.
Start with a conversation.
At Brightside Financial, we help families and small business owners determine:
- How much coverage makes sense
- Whether term, permanent, or both is appropriate
- Which carrier best fits your health profile and budget
- How to include living benefits for added protection
Your future self — and your family — will thank you.
Contact Brightside Financial today to schedule your no-cost consultation.
We’re here to help you build a safety net that protects the people you love most.
Because tomorrow is never promised — but protection can be.
