I know life insurance is one of those things most families figure they can do without, but really, the truth of the matter is that, in this life you just never know, and you don't want to leave your family with debts.
My husband and I recently amended our life insurance policies. It's something we had been putting off, but with a third child coming, we figure no better time than the present. Our "insurance lady" was very helpful in explaining the different terms - term life vs. whole life vs. critical, 10 or 20 year policies.
When looking for an insurance agent, make sure they are licensed and that they take the time to ask about your needs and explain different options. Be wary of solicitors over the phone, these are usually the banks who promise that you can be insured without a medical exam. This is true, but when it's time for payout, these institutions have been known to find loopholes in order not to pay the client or their families. Be careful of this.
It's never too early to get life insurance, for us, we found the ideal time was when we got married and bought a house.
Remember the earlier you start, the better.
Happy Shopping!!!
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2 comments:
Good advice. I would add that the insurance agent should be independent and not beholden to one insurance company. An independent agent can write policies with multiple companies. As in other businesses, competition is good for the consumer.
We can all agree that an independent broker is a good way of getting Term Life Insurance Quotes , but I've found comparison sites do a good job also. They input the values given to them by the insurers so it's not like the price is any way changable on the fly.
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