7 Things You Should Know About Life Insurance Policies

Most people don’t consider life insurance until they are in their 30s and have a family that depends on them. Here are 7 things you need to know before getting a life insurance policy:

1. Life insurance is affordable

   In 2015 a study was done that showed most people overestimate the cost to own life insurance. One of the major reasons people don’t buy life insurance is the cost, even though it is less than most people would think. More on this to come, where we will show you how easy it is to get a quick quote.

2. Different products for different situations

   There is a massive debate out there where you see people argue over term life insurance or permanent insurance. Which is better? Well, the correct answer would depend on your situation. Term life generally is better for covering short term debts. Things like your mortgage or student loans would become someone else’s burden. Whereas whole life is a better fit into an overall financial plan. Especially if you have a corporation whole life insurance can help you increase your earnings while being able to take more money out of your corporation tax-free.

3. When will your term life policy increases

   Term life insurance often comes in Term 10, Term 20, and Term 30 plans. The numbers represent how many years until your premiums will increase. For example, 10 years after purchasing a term 10 product your rates will automatically increase, without having to do another medical.

4. Do I need a medical exam to get life insurance?

   No, in fact, there are some great non-medical options out there. With more and more companies coming out guaranteed life insurance, you can be assured there are some great options. For a list of reviewed companies CLICK HERE  

5. How much life insurance do I need?

   That would depend on a wide variety of factors. What are you looking to cover and how long do you need coverage for? Here is a simple to use Life Insurance Calculator that can help you understand how much coverage you need.

6. Which company is the best?

   As always, there is never 1 company that is best. It would be the same as saying Burger King is better than McDonald’s. Where in reality McDonald’s is better for some people where Burger King is better for others. What is best to do is understand why you are looking for life insurance, how much coverage you need, and how long you need coverage for. From there you can find the best coverage for your situation.

7. How do I get a quote?

   This is where we come in, many people have told us, they want to get a quote without speaking to anyone, without having to add an email or phone number. So we provide that exact solution. You can now shop the market from the comfort of your home, with no sales reps, no need to give up your personal info. Simply get a quick insurance quote from us by CLICKING HERE and begin shopping for the best insurance quote.

For more information or help finding the right life insurance for you, contact one of our non-commission staff members who are waiting and would be happy to help!