And Why You Shouldn’t Do It.

I had one of my favorite prospects (I really hope she becomes a client soon) ask me about how much Life Insurance she should get. She’s a pleasant and pretty woman, doesn’t intend to get married anytime soon.

Since she has no dependents, her primary desire for Life Insurance was about the mortgage that she will ultimately take, perhaps at 35 – so that her parents/siblings don’t have to take on any of her debts.

She’s presently 30 now. I do not think her parents/siblings are likely to co-sign on this lease, but you never know. It could be a particularly big mortgage that requires another owner – and another owner’s income power, by extension.

We can see the need for Life Insurance – but comes the question.

Should she buy insurance now, in anticipation of this?

Or should she buy it later, when she wants to purchase the property at 35?