How To Buy Life Insurance

  1. Decide How Much Coverage You Need: Talk to an independent insurance agent. He/she can assist you in evaluating your insurance needs and also give you information about different types of policies. Determine how much coverage you need by getting important questions answered such as: How much of the family income do you personally provide? Does anyone else depend on you financially? How will your family pay final expenses and repay debts including mortgage payments, after your death? Based on the answers to these type questions and more, you can together intelligently decide how much coverage you need, for how long, and what you can afford to pay. You want to make sure that you buy enough life insurance to cover the financial effects of an unexpected sudden death.
    Click on my blog subject: How Much Life Insurance Do I Need?

  2. Determine What Type of Life Insurance You Need: 
    Decide if you need Permanent or Temporary life insurance.
    Term life insurance is commonly known as "Temporary" insurance because just as the name implies it only provides a death benefit for a specified number of years.
    Permanent life insurance on the other hand, doesn't end as long as you pay your premiums. In addition to providing a death benefit, permanent life insurance generally accumulates cash value, and you have the ability to access cash that has accumulated, in the form of loans and/or withdraws after a certain period of time.

  3. Assess Your Current Life Insurance Policy: If you already have a life insurance policy, do not cancel it until you have received the new one. You then have a minimum period to review your new policy and decide if it is what you want. Keep in mind that you may not have to cancel your current policy. You may keep the old one and add a new policy in addition to the old one. Or you possibly may be able to change your existing policy (depending on the policy) to get the coverage or benefits you want now.

  4. Read Your Policy Carefully: Will the premiums or benefits vary from year to year or are they fixed level payments? How much will the benefits build up in the policy? What part of the premiums or benefits are not guaranteed? What is the effect of interest on the money paid and received at different times on the policy? These are all questions that you should be able to answer by reading your policy thoroughly. Your agent can help you understand things that are unclear.

  5. Understand Renewal Policies: You may renew most term insurance policies for one or more terms even if your health has changed. Each time you renew the policy for a new term, premiums most likely will be higher. Many times premiums can skyrocket at renewal time. Ask what the premiums will be if you continue to renew the policy. Also ask if you will lose the right to renew the policy at a certain age.

  6. Choose a Trustworthy Agent: Select an agent that will be there for you to answer your questions and also give you excellent customer service even after the sale. Check the agent’s reviews, references, testimonials and/or recommendations. It is important to see how previous clients were treated.
    Please take a few seconds to read about what my actual clients have to say about my personalized service in their own words by clicking this link. Agent Reviews.

  7. Pick a Well Established Insurance Company with an Excellent Rating: Check the insurance companies’ ratings for financial strength first before completing an application. You want your insurance company to be there when your family needs it the most.

  8. Be Sure You Can Afford the Premium Payments: Before purchasing a life insurance policy, be sure that you can handle the premium payments. Can you afford the initial premium? If the premium increases later, will you still be able to afford it?

  9. Always Answer the Questions on Your Application Truthfully: A company will use this information to evaluate your risk and set a premium for your coverage. When it’s time to submit a claim, accurate and truthful answers will enable your beneficiary to receive prompt and full payment. Dishonest answers in certain circumstances could allow the insurance company to deny a claim.

  10. Ask for an Independent Insurance Agent: Independent agents don't just use one main insurance company and possibly some of its affiliates for quotes like captive insurance agents from a single big insurance company do. Independent insurance agents can shop a very large number of insurance companies across the market for the very best quotes. Independent insurance agents are also able find specific insurance policies that are best suited for their clients.

Please take a few seconds to read what my actual clients have to say about my personalized service in their own words by clicking this link. Insurance Agents Reviews

Note: Life Insurance information can be confusing to many people. As an "independent licensed agent" I can explain things to you in simple terms so you feel comfortable making a decision. Then I can help you choose a life insurance policy, from many choices of different insurance companies, that you feel fits your needs. Plus if you choose to work with me you will have personalized service by a local agent that can shop premium quotes for you. If you would like my assistance to discuss and/or start the process of getting you insured please call me at 941-404-5334. 

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Why Choose Independent Agents?