A big part of financial planning is making sure that your loved ones will be provided for when you're gone. Buying a life insurance policy is a great way to start. The last thing on a 20 or 30 something's mind is life insurance but that's the best time to buy it. Don't wait until you're in your 40ies or 50ies.
When I was being screened on the phone for my life insurance policy, the simple questions, "How tall are you?" and "How much do you weigh?" were enough to raise the premium. Doesn't matter how fit you are or even if you just completed the New York Marathon. The chart that the telephone operator looks at said that 5'10" and 220 pounds requires MORE MONEY.
Term life insurance has never cost less: "But rates for plain-vanilla term life insurance policies are the lowest they've ever been. Premiums -- the annual fee you pay for a policy -- have fallen by about 50 percent since 1995, according to AccuQuote, the insurance-shopping Web site..."
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