At what age did you decided to purchase Life Insurance and why?

Question

At what age did you decided to purchase Life Insurance and why?

Answer 1

I was 24 and only got it because my mum got a low intrest rate loan for me, which i pay, but obviously if something were to happen to me, the loan is in her name, so its to clear the loan if i die.

I never needed it before, as i am not married and dont have any kids, so theres no need for a payout if i'm dead, theres no one to leave it to, my mum and dad would get my house, as the mortgage would be paid off (but you have to have that kind of insurance on a mortgage in the UK)

Answer 2

Hi i took life insurance out when i was 21 I'm now 22 and a single mum to a wonderful 16 month old daughter

i wanted life insurance to make sure my little girl will be ok if anything happens to me  

Answer 3

Only when I took out an enormous mortgage which my wife wouldn't be able to pay if I was to die before it's paid off.

If I paid the mortgage off early I'd cancel the policy, as generally I regard life insurance as money poured down the toilet.

Answer 4

I was going on 23. It seemed like a good Idea.  

Answer 5

dont

Answer 6

if you are single, you really don't need it - maybe a small amount for burial expenses - when you get married and have kids is when you need it - I only get insur thru work - cheaper

Answer 7

I dont think ages is really as much as a factor.  It is more dependant on who depends on your income.  If there is nonone that depends on your income dont bother.  

Answer 8

I am lucky and i get it free through work. However like a lot of the answers above i wouldn't really consider purchasing it unless i had dependents.  

Answer 9

I bought life insurance after my son was born to make sure I didn't leave my wife with no income, funeral expenses, etc.  That was my reasoning.