If you're shopping for life insurance for the first time and realize you need life insurance but you have some questions, you'll want to consider the following questions:
- What goal do you want your life insurance to accomplish?
- How long do you need life insurance?
- How much life insurance do you need?
- What is your monthly budget to spend on life insurance?
- Does your spouse or partner need life insurance?
Next, you'll want to compare life insurance carriers and pricing. When comparing rates and insurers make sure you do the following:
- Compare free life insurance quotes from several of the top insurance companies.
- Review the AM Best financial strength ratings of the insurers you consider.
- Find out how long your rate is guaranteed to remain the same - for how many years.
- How long has the insurer been in business?
- How big is the insurer - total assets and number of policyholders?
Next, ask your friends and family members if they have any experience with the insurers you are considering for your life insurance to find out if they have good customer service and treat policyholders well.
How to save some money on your life insurance coverage:
- Compare life insurance rates from several insurers.
- Choose term life insurance over permanent life insurance eif you need coverage for 30 years or less.
- Choose to pay your premiums once per year instead of monthly as there are additional service charges for monthly payments.
- If you smoke, quit smoking, as smokers pay 2-3 times more for the same amount of life insurance compared to non-smokers.
Now that you've considered the tips mentioned above, you'll want to learn about the benefits of
term life insurance versus permanent life insurance to help you determine which type of life insurance will meet your own personal needs.
