Locking in Your Future Health (and your lowest rates) Today
When most people think of their age, they think of their last birthday. However, in the life insurance industry, the math works a little differently. Most carriers use a concept called “Age Nearest,” which determines your premium based on whichever birthday you are closest to. If you are six months and one day past your 34th birthday, the insurance world officially considers you 35.
This nuance is exactly why January is one of the most strategic months to secure a life insurance policy. By taking action now, you aren’t just starting a New Year’s resolution—you are potentially saving thousands of dollars over the life of your policy.
The Financial Impact of the “Cost of Waiting”
Life insurance premiums are calculated based on mortality risk, which increases every year. While a one-year difference in age might only seem like a few dollars more per month, consider the long-term math:
- The Compounding Effect: A $10 monthly difference in premium between age 34 and 35 adds up to $2,400 over a 20-year term. For permanent or whole life policies, that gap can be even more significant.
- Locking in the “Age of Issue”: Once your policy is issued, that age is locked in. By applying in January, you beat the “half-birthday” clock that could bump you into a higher age bracket and higher premiums for the next several decades.
Future-Proofing Your Insurability
Beyond the math of age, January represents a snapshot of your current health.
- The Health Guarantee: You are, statistically speaking, the youngest and healthiest you will ever be right now. Life insurance is the only product you have to “qualify” for with your health. By securing a policy now, you lock in your current health status.
- Protecting Against the Unexpected: If a health issue arises later in the year—such as high blood pressure, a change in cholesterol, or a new diagnosis—it could make insurance much more expensive or even impossible to obtain. Locking in your “Age of Issue” in January means those future changes won’t affect the rate you’ve already secured.
Start Your Year with a Legacy Plan
Caring makes the difference when it comes to family security. Don’t wait for a “milestone” birthday to remind you that time is passing. Take advantage of the January window to secure the lowest possible rates for the longest possible time.
Secure Your Rate Today: Is your “insurance age” about to change? Contact our life insurance specialists today by sending us an email at info@parkwayinsurancegroup.com, or calling us at +1 281 558 1991 for a no-obligation quote. Let’s help you lock in a rate that protects your family’s future without overstretching your budget.
