Buy Life Insurance The Right Way
Why Buy Life Insurance Today?
You know that you need to buy life insurance because you want to ensure your family's financial security. If you were to pass away, who would provide for your spouse and children? Who would take care of your child's education, and who would make sure your spouse can pay the bills if you're gone? Besides, daily needs and a funeral can cost thousands of dollars, and you don't want to burden your parents or grown children with that final expense bill!
But many responsible people still delay purchasing a policy even though they know how important it is. Should people leave their family’s financial security up to chance?
When I’ve asked these individuals why they’ve postponed their buying decision, they actually have some reasons that seem valid on the surface. Let’s look at some of the excuses people give:
- Life insurance is too complicated.
Insurance shoppers often find different types of coverage confusing. They don’t know whether they need a term or whole life policy, or they wonder if they should buy $10,000, $100,000, or $1,000,000 worth of coverage.
- Policies cost too much.
People may have received one premium quote that sounded high, and they don’t realize there are more affordable options available to them. A 30-year million-dollar term policy might not fit the budget, but perhaps a 20-year term life policy for $100,000 would be affordable and sufficient.
- People don’t want an insurer prying into their personal life.
Some are concerned about releasing their personal or health records to faceless employees. Part of the problem is uncertainty about the information contained in those records. They fear the information might be wrong or misleading, don’t know where it will end up, and aren’t fully aware of what’s on those reports.
- Consumers don’t know which company or agent to trust.
We hear about various consumer scams every day, making it hard to know which companies we can trust. Even legitimate companies might have financial problems, so how can we be assured our coverage will be there when we need it?
But are these reasons really valid?
The Truth About Buying Life Insurance
What is the truth? You’ll have an easier time buying an insurance policy now than at any other time in history. You can also take very simple steps to ensure you purchase the right coverage from a top-rated insurer. It’s also straightforward to compare rates.
Here are some quick tips to motivate you if you've been delaying coverage for your own life:
- Premium Rates are Dropping.
You'll find that insurers have reduced their premiums over the last 10 years, and most people can buy coverage for much less than they think. Why have rates gone down? Statistics show we’re living longer, so companies face less risk. Additionally, computers and the internet have made the insurance business more efficient. Plus, you can adjust the policy’s options and face value to allow for a premium you can afford.
- Consumer Protection Information is Online.
You can verify the financial rating and complaint record of insurers online. Independent rating websites and state insurance departments provide this information. Consumers can compare insurance agents with state insurance commissions. If you don’t have access to this ability, every state offers a toll-free number to call. Just a little research, which is very easy to do, should protect you.
- Compare Life Insurance Rates and Plans Online.
You can find the lowest-priced policies online with just a few mouse clicks! Consumers can learn about the best types of coverage and calculate coverage amounts. You control your personal information and will be legally protected. Personal records won’t be released without your permission. You also have the right to check your own health and consumer records before releasing them to any other company. Both medical information databases and consumer credit reporting agencies must give you a free report every year so you know what’s on your file.
In fact, the entire process of finding the best policy, comparing rates, or even locating a qualified, local insurance professional can be as simple as filling out a short online life insurance quote form. Visit us to save time and money.