How old were you when you first got life insurance for yourself?

Jake0307 · 10 July 2016 at 10:42PM

I'm job hunting atm as my degree is nearly over. I was just wondering whether there is a general age in which people find it is the right time to buy life insurance for themselves, or whether it just depends on your own personal situation (income, health etc.)

I'm new to insurance so I was curious.

EDIT: Apologies for not adding a 'N/A' option to the poll. Just don't answer in that case, as I don't think I can edit the poll. :mad:

ThePants999 · 11 July 2016 at 10:01AM

You need life insurance once you have someone financially dependent on you. If nobody is, there's no point getting it.

I took out my policy at 21, when I got a joint mortgage with my wife and needed to ensure she could repay it if I died.

Faith177 · 11 July 2016 at 10:07AM

I got mine at 21 too when I got a joint mortgage with my mum and despite the mortgage now being paid I've kept it in place and taken out a further one to provide for my husband should anything happen to me

dunstonh · 11 July 2016 at 10:10AM

Life assurance is easy. If someone is worse off in the event of your death then you need it. No poll needed.

vacheron · 11 July 2016 at 10:19AM

I've had 5X death in service as part of my work package since I started at 21 and I've no need for any additional policies.

EdGasket · 11 July 2016 at 11:23AM

It's mostly for your children imho. If you don't have dependents then you don't need it. I don't think childless couple's really need it unless both working to support a huge mortgage and you'd lose your home if one died. Otherwise they'll probably marry someone else once you've popped your clogs so no worries.