--- title: When is the Best Time to Buy Life Insurance? description: Read the HPM Insurance blog to learn about life insurance and more! Got questions? We're here to help! 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[Personal Insurance](https://hpminsurance.com/blog/topic/personal-insurance),. [Claim Information](https://hpminsurance.com/blog/topic/claim-information). [Life insurance](https://hpminsurance.com/insurance-quotes/life-insurance) for NH residents is a critical component of any personal financial plan to secure the economic security of loved ones when the insured passes away. Though no one likes to think about death, it is wise to reevaluate your life insurance needs anytime your financial situation or dependents change. Below we highlight a few major life events that call for evaluating your current life insurance limits. ![NH Life Insurance](https://hpminsurance.com/hs-fs/hubfs/life%20insurance%2024.jpg?width=1832&height=667&name=life%20insurance%2024.jpg) # **** ## **When is the Right Time to Get Life Insurance?** ## **Getting married ** Marriage usually calls for a significant reorganization of finances, as you have literally gone from single to a couple. Life insurance should be part of the reorganization to ensure you and your spouse are financially secure throughout your lives. Even if you keep separate bank accounts, each of you often contributes a portion, whether financially or physically, to the household. How would your finances be impacted should one party’s contribution suddenly stop? Because of this significant impact, it is common for both spouses to get life insurance. Life insurance could ensure that your spouse will be financially comfortable if you pass away. They’ll undoubtedly miss you still. Taking care of finances at least eases one burden off of them. ## **Having children** Having children is one of the most critical times to evaluate your life insurance, given the significant expense of raising kids from birth through after high school. Life insurance is vital for any working parent, but don’t discount it if you’re a stay-at-home mom or dad. Childcare and household management have an economic value. If you don’t work outside the home, you may want life insurance to pay for services such as childcare, cleaning, and meal prep if you are no longer around. In addition to ensuring everyday expenses are taken care of, you might also want life insurance to help pay for kids’ college, weddings, first home down payment, or other significant expenses. ## **Buying a new home** **![Home](https://hpminsurance.com/hs-fs/hubfs/Assets/Insurance%20Quotes%20Top%20Nav/Homeowners_Insurance_Icon_HPM.jpg?width=99&height=99&name=Homeowners_Insurance_Icon_HPM.jpg)**Owning a home is a dream come true, but it also comes with long-term financial obligations. Should you pass away, life insurance benefits can be used to cover mortgage payments. Making sure your family can stay in their home would provide at least a little stability at a difficult time. ## **Major salary increase** Anytime your salary increases substantially, whether due to a promotion, a new job, or inheritance, take a moment to review your living expenses compared with your life insurance limits.  It’s not automatically necessary to purchase more insurance if your salary increases. Still, if you use the additional income to increase your living standards, you might want more life insurance so that loved ones can sustain an improved lifestyle. ## **During early adulthood** Purchasing life insurance during early adulthood, in your 20s or early 30s, can help you get highly affordable premiums. Because most people in their 20s and early 30s are relatively healthy, premiums tend to be lower when policies are purchased at this age. Those lower premiums might keep what you pay in the future lower than what would otherwise be your rate. ## **Get help evaluating your life insurance needs** If you’ve recently experienced one of these significant life events or are about to, contact the independent insurance agents at HPM Insurance for help evaluating your life insurance needs. We’ll help determine how much coverage you should have given your new situation. We can help you find a NH Life Insurance policy to meet your and your family's needs.   ### Possibly related posts: - [How Do I Insure An Investment Property?](https://hpminsurance.com/blog/how-do-i-insure-an-investment-property) - [How Does a Speeding Ticket Impact My Auto Insurance in New Hampshire?](https://hpminsurance.com/blog/how-does-a-speeding-ticket-impact-my-auto-insurance-in-new-hampshire) - [How Will Tariffs Likely Impact Your NH Home & Auto Insurance Rates?](https://hpminsurance.com/blog/how-will-the-tariffs-impact-your-nh-home-auto-insurance-rates) - [The Basics of NH Directors and Officers Insurance](https://hpminsurance.com/blog/the-basics-of-nh-directors-and-officers-insurance) ## Request Free Insurance Quotes! ### [Rss Feed](https://hpminsurance.com/blog/rss.xml) - [Personal Insurance (61)](https://hpminsurance.com/blog/topic/personal-insurance) - [Homeowners Insurance (44)](https://hpminsurance.com/blog/topic/homeowners-insurance) - [Business Insurance (35)](https://hpminsurance.com/blog/topic/business-insurance) - [Car Insurance (26)](https://hpminsurance.com/blog/topic/car-insurance) - [Agency News (24)](https://hpminsurance.com/blog/topic/agency-news) - [Commercial Insurance (21)](https://hpminsurance.com/blog/topic/commercial-insurance) - [Safety Tips (14)](https://hpminsurance.com/blog/topic/safety-tips) - [Health Insurance (9)](https://hpminsurance.com/blog/topic/health-insurance) - [Claim Information (8)](https://hpminsurance.com/blog/topic/claim-information) - [Auto Insurance (7)](https://hpminsurance.com/blog/topic/auto-insurance) - [Insurance Tips (6)](https://hpminsurance.com/blog/topic/insurance-tips) - [Boat Insurance (5)](https://hpminsurance.com/blog/topic/boat-insurance) - [Commercial Auto Insurance (5)](https://hpminsurance.com/blog/topic/commercial-auto-insurance) - [Workers Compensation Insurance (5)](https://hpminsurance.com/blog/topic/workers-compensation-insurance) - [Jewelry Insurance (4)](https://hpminsurance.com/blog/topic/jewelry-insurance) - [Landlord Insurance (4)](https://hpminsurance.com/blog/topic/landlord-insurance) - [Small Business Insurance (4)](https://hpminsurance.com/blog/topic/small-business-insurance) - [save money (4)](https://hpminsurance.com/blog/topic/save-money) - [Cyber Insurance (3)](https://hpminsurance.com/blog/topic/cyber-insurance) - [Flood Insurance (3)](https://hpminsurance.com/blog/topic/flood-insurance) - [NH Homeowners Insurance (3)](https://hpminsurance.com/blog/topic/nh-homeowners-insurance) - [renters Insurance (3)](https://hpminsurance.com/blog/topic/renters-insurance) - [Life Insurance (2)](https://hpminsurance.com/blog/topic/life-insurance) - [NH Auto Insurance (2)](https://hpminsurance.com/blog/topic/nh-auto-insurance) - [Property Insurance (2)](https://hpminsurance.com/blog/topic/property-insurance) - [Agency Happenings (1)](https://hpminsurance.com/blog/topic/agency-happenings) - [Business Insurance New Hampshire (1)](https://hpminsurance.com/blog/topic/business-insurance-new-hampshire) - [Condo Insurance (1)](https://hpminsurance.com/blog/topic/condo-insurance) - [Employee Benefits (1)](https://hpminsurance.com/blog/topic/employee-benefits) - [High Value Home Insurance (1)](https://hpminsurance.com/blog/topic/high-value-home-insurance) - [High-Value Homeowners Insurance (1)](https://hpminsurance.com/blog/topic/high-value-homeowners-insurance) - [Home Insurance (1)](https://hpminsurance.com/blog/topic/home-insurance) - [Motorcycle Insurance (1)](https://hpminsurance.com/blog/topic/motorcycle-insurance) - [New Hampshire Insurance (1)](https://hpminsurance.com/blog/topic/new-hampshire-insurance) - [RV Insurance (1)](https://hpminsurance.com/blog/topic/rv-insurance) - [Travel Insurance (1)](https://hpminsurance.com/blog/topic/travel-insurance) - [commercial property insurance (1)](https://hpminsurance.com/blog/topic/commercial-property-insurance) - [homeoweners insurance (1)](https://hpminsurance.com/blog/topic/homeoweners-insurance) ## Subscribe to Our Blog - ### Don't Wait. 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The illustrations, instructions and principles contained in the material are general in scope and, to the best of our knowledge, current at the time of publication. Website Built & Powered by [Jump Suit Group](https://www.jumpsuitgroup.com/) ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "April Weismann", "url" : "https://hpminsurance.com/blog/author/april-weismann" }, "dateModified" : "2024-03-18T21:07:46.067Z", "datePublished" : "2024-03-18T21:06:57.000Z", "headline" : "When is the Best Time to Buy Life Insurance?", "image" : [ "https://hpminsurance.com/hubfs/AdobeStock_444797423.jpg" ], "mainEntityOfPage" : { "@id" : "https://hpminsurance.com/blog/when-is-the-best-time-to-buy-life-insurance", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://hpminsurance.com/hubfs/HPMinsurance/Images/HPM_Logo_Large.jpg" }, "name" : "HPM Insurance" } } ```