Personal Finance Insider writes about products, strategies and tips to help you make smart decisions with your money. We may receive a small commission from our partners, but our reports and recommendations are always independent and objective. I was not familiar with the world of life insurance until I became an insurance broker. Once I passed the insurance exams, however, my then boyfriend and I decided to get life insurance right away. A few years before meeting my current husband, my father had developed terminal liver cancer. By writing a letter to his insurance company signed by his doctors, he was able to access his policy to take my brothers on a trip to Europe before he died. Even though there was no life insurance money left when my father died several years later, this experience made me understand the importance of life insurance and the options it offers, and my partner and we didn't want to wait to buy our own policies. Because we got life insurance before getting married or having children My boyfriend and I bought our first home the year before we got married and we knew that if one of us died unexpectedly, we wanted Else could live there without worrying about how to pay the bills. In such a case, life insurance would be of great help. Another reason we decided to buy life insurance before getting married or having children is that we were both healthy and knew that the future would be unpredictable. Even if none of us have suffered from a serious illness or accident from purchasing insurance, obviously it is not possible to predict the future and we did not want to take risks because the cost of life insurance depends on your health and age. The choice of duration or full life insurance So it came to the type of insurance we wanted to buy. There are many different types of life insurance, but the main two are life insurance and whole life insurance. You can purchase life insurance policies based on fixed and other interest rates that are related to the performance of the stock market. When it came to which policy was right for us, we considered three factors: amount of coverage, economic convenience and predictability. Amount of coverage First of all, we wanted to make sure we had life insurance policies that covered everything we needed. Even though we purchased pre-child policies, we wanted to make a factor in a growing family as we knew we wanted children. We also wanted to be able to pay for the house for the other and cover a certain level of living expenses for 20-30 years in case of unexpected death. Convenience We knew that our life insurance policy had to fit into our budget. There was no reason to get a policy that would extend us financially, otherwise we would have had to cancel it if it wasn't the case and we didn't want to go into debt in an attempt to afford a life insurance policy. Predictability We did not feel comfortable with our life insurance policy linked to interest rates or the stock market in case one of those environments went south and our policy did not work in the way we needed it. So we decided to take out a $ 30 million life insurance policy for each of us. At the time, we imagined that 30 years would bring us closer to our retirement age and therefore would help cover all the years when there was only one income to live in case one of us died. The term policy was much cheaper than a whole life. Based on the policy, the amount of the death benefit was set ($ 1 million) and we knew exactly how much we would pay each month (or year) for the next 30 years. With that said, I advise people to look for term life insurance policies that suit their family's needs. I know many people want to wait until they have children, but if you and your partner participate in the long term, there is no better time to shop than when you are young and healthy.