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The benefit of life insurance is that you can use it while you are still alive. There are many purposes including retirement income, funeral expenses, or if you ever have a major health issue (heart attack, stroke, cancer) you can access money from your policy. 

The best time to buy life insurance is when you are young and healthy. The premium is lower and sometimes doesn't require a medical exam.  And throughout your life, you get back more than what you paid for. 

Example for myself:

I am a Male, age 40, healthy and I purchased a $500K Guaranteed Universal Life to age 105 paying $289 per month. If I live to age 80 my combined premium is only $138.720. 

However, if I was a Male, age 40, and have bad health, $50,000 is already $109.87 per month. Paying to age 80 is already $52,737.60. 

There is no best life insurance product because each product serves a different purpose. 

• Universal Life:  I purchased a $500k guarantee universal life to age 105 because I wanted to cover myself if I lived too long. And I bought an Index Universal Life because I want to build cash value so that I can use it to supplement my retirement.

• Term Life: I purchased a $350k, 30-year term insurance to cover myself if I were to die early. It is the cheapest insurance, but ends after the term period. However, before it expires I can convert it to a permanent policy such as a universal life or whole life.

• Whole Life is a fixed premium, builds up cash value, and provides guarantees to age 120. It is the most expensive and mostly for the unhealthy such as final expense or guarantee whole life.

You should buy as much as you can afford to. Life insurance is an investment; The purpose is to cover funeral expenses, debts, income replacement, retirement, or wealth transfer. 

Each company has a maximum death benefit amount you can buy. It is calculated by income and age. In most cases under age 40, you can buy 25 times your annual income. 

Yes depending on your age, we have a guaranteed whole life that you can still qualify for. There are many companies for people over age 50. They are called final expenses or guarantee whole life.

You will need to take an online class and pass a state exam to get your state license. Please go to the agent page about Licensing to learn more about it.