If I already have life insurance should I shop around for a better deal?

That depends on you. Keep in mind, if you switch policies your 2 year contestability period starts over which means if you pass away in the first two years of your new policy the insurance company can contest the payment of your death benefit if they find you have misrepresented a material fact on your application for life insurance.

But, if you feel you may save some money by switching to a new life insurance policy just ...
Continue reading ...

It depends on the type of life insurance policy you own.

Most term life insurance policies offer the option of renewability which means you may renew your life insurance coverage for another "term" when your original term life policy ends.

However, the duration of your renewal term may vary by insurer and type of policy.

For instance, some plans may offer yearly renewal, while others may guarantee you a level rate for a period of up to 10 years on your renewal term life policy. 

In addiiton, you ...
Continue reading ...

If you already own life insurance the most important thing to remember is to not cancel any existing life insurance coverage until your new life insurance policy has been approved, delivered, and put "In Force".

Compare the your current life insurance policy to the one you want to purchase by comparing price, guarantee periods, convertibility, financial strength of the insurance companies, and exclusions.

When beginning a new life insurance policy, a new contestability period...

Continue reading ...