When purchasing your life insurance policy, you should
make sure you are working with a reputable insurance company and a reputable insurance
agent.
Make sure your life insurance agent is properly licensed.
Also, check the financial rating of the insurance company
and make sure the life insurance company is rated "A" Excellent, or better, for
financial strength by A.M. Best Company.
Look at guarantees and compare "apples to apples"
when comparing life insurance policy prices and plans.
Look at the options, such as riders to add additional
coverage, and the option of convertibility of your term life policy to
permanent life insurance in the future.
Look for rates on your life insurance policy that you can
lock in and forget about having to worry about life insurance again for a long
time.
Term life insurance plans offer guaranteed level rates for
up to 30 years.
Make sue you consider why you are buying life insurance –
what is your goal?
Also, consider how much life insurance you need, for how
many years, what you can afford to pay, and if married, does your spouse need
life insurance, too?
Here is a life insurance policy checklist to help you prepare for purchasing your life insurance policy.
