Deciding when you should purchase life insurance varies by person and the individual’s circumstance. But there are both benefits and drawbacks to purchasing life insurance at certain ages. Although the general consensus is that you should purchase when you are younger, there is no “wrong” age to consider purchasing life insurance.

That’s a good thing. Chances are your family may change or grow at different stages of your life, prompting you to consider purchasing a certain life insurance policy at different ages. Below we take a look at why it is a good idea to have life insurance at any age.