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Life insurance at 27
xHollyx
Posts: 2 Newbie
Hi i turn 27 in December when is the best time to get life insurance and pensions?
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Comments
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when is the best time to get life insurance
It is best to buy life assurance when you have a financial need for it.and pensions?
Earlier the better. On birth is the best time but you need parents/grandparents willing to fund it and its out of your control. However, when you start work is next. If that is at 18 then so be it.
Every year of delay will increase the amount you need to contribute each month to end up with the target income.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Pensions: As soon as possible, unless you have debt at high interest rates that you need to pay off first.
Life assurance: As soon as you have someone else dependant on your income.
If you don't have anyone else dependant on your income, you may want to consider an income protection policy to protect your own income.I am an Independent Financial Adviser. Any comments I make here are intended for information / discussion only. Nothing I post here should be construed as advice. If you are looking for individual financial advice, please contact a local Independent Financial Adviser.0
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