The Challenges of Obtaining Life Insurance Much Later in Life

Posted on: 7th May 2019

It is always advisable to accomplish as much as you can early in life. The energy in your youth is very potent but sadly it will not last forever. Therefore, it is not at all surprising, that people tend to take advantage of their early years in order to make provisions for the future. As the popular saying goes; ‘’a stitch in time saves nine’’ and hence making conscious plans for when you eventually get old is the ideal thing to do.

One of such provisions many young people are advised to make is that of a life insurance plan. Your early twenties is unarguably the best time to take out a life insurance plan. As you grow older and your life begins to take different twists and turns, you can always adjust, edit or replace your insurance plan. This is for your benefit as it helps to avoid a lot of challenges.

Failure to obtain life insurance much earlier in life will definitely leave you with some challenges when trying to opt for one much later. A life lived is directly proportional to time. What this means is that life, especially as it pertains to life insurance is as a function of time.

Challenges such as;

  1. Age Limitations.

It is universally agreed that you are less likely to die at a young age and even though people still get deceased prematurely, the odds of you living for a far more reasonable amount of time are pretty high. The more time goes by, the more you age and the more you age, the weaker your bargaining power when trying to negotiate a befitting insurance plan. This is because when you are much older, the chances of passing are greatly increased and this becomes a challenge when trying to acquire life insurance.


  1. Health Limitations.

This is also technically linked to your age. The older you get the more you become prone to health issues and diseases which can lead to your demise. This can greatly affect your chances of getting a life insurance plan that you would consider satisfactory by your standards. Depending on the state of your health, you may not even qualify to get one. If you are plagued already by some type of damning terminal illness, insurance companies would naturally want to consider you ineligible to obtain life insurance.


  1. Sudden Death.

This has to be the number one challenge of getting life insurance much later in life and the reason is quite simple. If you die before you get a chance to take out a life insurance plan, there’d be nobody to take it for you. At the risk of sounding sinister but without the intention to do so, anybody can give up the ghost suddenly. Death is one of the most unpredictable phenomena in our human existence and that’s why we are literally and dangerously testing our fates when we postpone buying life insurance till much later.

These are obvious challenges that are capable of either rendering a person ineligible for life insurance or reducing the quality of their insurance cover. Whatever the case may be, the clear cut advice here is crystal – the best time to buy life insurance is when you’re young. Nonetheless, the next best time is now, while you’re still breathing.


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