You know you need it.
We might even say that living without life insurance is an opportunity missed – and don’t even think about dying without a policy. Why do so many people endure the risk and walk the uneasy streets of the uninsured? One culprit is the difficulty in choosing a suitable policy. The features and varieties seem endless and there’s pitfalls a’ plenty.
What can we do to smooth the way? For starters, get stuck into the linked article. Our featured author provides a seven-step guide that we think works pretty well.
The first step is self-education. You’ll find a teeming army of insurance agents swarming to help you when the time is right – but that moment comes once you’ve mastered the basics. What type of policy do you want: term, unit linked, endowment or whole life? Or one of the many other types? The internet is your friend for solid, basic information, so get cracking.
Once you know the type and amount of life insurance you want, you’re ready to contact a broker. Nowadays, the initial contact should be made online. This protects you from hard-sell tactics and allows you to analyze the offers at your leisure. You can apply to a life insurance broker who represents a range of firms, or contact a life company directly. It also makes sense to check with your place of employment to see if they offer a plan – major companies almost always offer a range of choices.
Price shouldn’t be your only consideration. Whatever company you choose, make sure they are highly rated: don’t rely on a firm with a rating less than ‘A’. Bargain-basement providers might offer considerable savings on premiums, but don’t be seduced: the matter is far too serious to admit any risks.
Finally, get a life insurance health exam, turn in your life insurance application, wait for the insurance underwriter and pay your life insurance premium.
For more information, please read:
Buy the Best Life Insurance in 7 Easy Steps [The Ultimate Guide] | Part-Time Money