Are you ready to buy life insurance? Shop carefully. Make your choice with insight from an insurance professional; it may help you avoid some of these all-too-common missteps.
Beware of buying the first policy you see. Anyone interested in life insurance should take the time to compare a few plans – not only their rates, but also their coverage terms. Supply each insurer you are considering with a quote containing the exact same information about yourself.1
“For which of you, desiring to build a tower, does not first sit down and count the cost?” Luke 14:28.
Don’t buy based only on price. Inexpensive life insurance is not necessarily great life insurance. If your household budget prompts you to shop for a bargain, be careful – you could end up purchasing less coverage than your household realistically needs.1
Compare the benefits of term policies versus permanent policies. A term policy, essentially offering life insurance coverage for 5-30 years, may be fine if you simply want to address basic insurance needs. If you see life insurance as a potential estate planning tool or a vehicle for building wealth over time, however, a permanent life policy might be more appropriate for yo ...
