If you want to make sure your family is protected if something happens to you, the way to accomplish that is to have the proper life insurance in place.
While this might seem like a good idea, and you may be ready to buy life insurance because you realize the value it has for your family, where on earth do you get started? There are just so many different companies with different policies and rates that it gets confusing after about the third website. Ideally what you want is a company that knows its products, knows how to explain them in plain English, and doesn’t try to shove something down your throat that you don’t need.
This company needs to be willing to listen to what your needs and requirements are and then translate those into a policy that works for you and with you. The last thing you need is an insurance policy that doesn’t work and won’t give you what you want to provide for your family. This is where it comes in handy if you write down a list of questions to ask your local life insurance broker. The more questions the better; after all it’s “your” life and your money paying the premiums, and you deserve full and complete answers.
Before you get started looking around, decide what you really and truly want from a life insurance company. You could start with comparing life insurance rates with the most popular companies online. Check their websites and find out what they offer for you and your family. Many will ask you to have the usual physical exam before they approve you.
They will also need a list of pre-existing conditions. Whatever you do, don’t leave stuff out in that section, because they will find out about it later, which could disqualify you. In most instances as well, you will be asked to get a letter from your physician outlining what you do have in terms of pre-existing conditions and what medications or other things you are doing to control the conditions.
The usual rule of thumb when you compare life insurance companies online for their policies and premiums is to check out five. While this may seem overwhelming, the best way to go about doing this is to get one quote from one company a week and then compare. That way you don’t get everything in at once. Talk about confusion. The good thing about dealing online is that the quotes are free and if you take the time to speak directly to some of the agents, you will get a good idea or not if the company suits you personally. Keep in mind that the lowest price isn’t always the way to go.
With information in hand, you can now make some decisions. If the cascade of paper is too much, contact an insurance agent to help you winnow it down to something a bit more manageable. The insurance agent is also fully trained to be able to get the quotes you need for the “right” coverage. This will save you an enormous amount of time in the long run and it will also save you money.
While life insurance should never be “too” expensive, it does have to be at a certain level depending on what you want that policy to do for your family. This is one of the most important things you will want to discuss with your agent. So, while you are asking questions, have the agent outline what the various policies mean and how they pay out. This is information that will come in handy when you are making decisions.