Buy Life Insurance With Confidence

Author: Dennis Jarvis
Source: isnare.com

I had a friend the other day call and ask me about buying term life insurance. He had just signed up for an expensive whole life plan through his employer and wanted to compare life insurance plans with what’s out there on the market. We went through the differences between his current plan and term life available on the market. He’s now on a much more affordable life plan that fits his needs. We’re still friends. Let’s see if we can give some similar guidance to help you buy life insurance.

You’re probably in one of these two categories. Either you are completely brand new to the life insurance purchase or you have existing life insurance and want to either add additional coverage or make sure you have the best rate. We can help with both situations. Either way, the key to term life insurance these days is price. It’s really a commodity these days. This means that buying life insurance is more similar to buying paper than buying car. Why? The market has become incredibly competitive over the last decade and for the most part, term life is a very simple product that’s easy for the carriers to understand. They all have similar access to actuarial data. This has narrowed the price range you’ll find for a given term length and amount of coverage which is good news for you. This brings up a good point…

Tip #1. You need access to the rates across multiple carriers and plans which you can compare against each other. Some traditional brokers might quote just a few plans. This puts you at a significant disadvantage since there may be certain premium bands or carrier preferences that would benefit you over others. The only way to find this out is to quote across many plans. The online world has made this this distribution of information easy and in our opinion, mandatory. You’ll find our online term life insurance quoting tool can quickly and instantly provide you multiple life insurance rates based on your basic demographics. You’re half way there with such a powerful tool at your disposal. This brings up a good point…how much benefit and for how long should you consider?

Tip #2. Knowledge is power and no where is that more true than when buying life insurance since this product, more than any other, is all about information. You can always call us as licensed life insurance brokers but if you’re like me, I like to take it at my pace. I love a website that’s deep in great information that helps me make a good decision. If I have additional questions, I will usually call them once the website and company has established that they are trying to give me the edge in making a decision. Check out our life insurance article database which just keeps growing. We’re trying to break down the entire product in a straight-forward way that you can wrap your head around. You’ll notice the language is honest, impartial, and addresses what’s really important when buying life insurance.

Tip #3. Choosing the life insurance plan is just the start. You need a advisor that can help shepherd your application through the underwriting process and beyond. This whole process after you buy the life policy is relatively new to most people. We work to speed the paramedical exam, speed the underwriting process, and try hard to deliver a life insurance policy that you can feel good about. We’re here through the life of the policy and a re-examining of your policy against what is available on the market is always a call or email away.

We want you to buy life insurance with confidence and the feeling that someone on the inside is on your side.

Dennis Jarvis is a licensed insurance agent concentrating on term life insurance. Shop, compare, and instantly quote multiple carriers with professional guidance and resources.

Don’t Buy Term Life Insurance

Author: Donald Lusan
Source: articleage.com

Don’t buy term life insurance if you have a lot of money. You
simply should not buy any life insurance at all.

Let Us Look At The Young Married Couple

You have married the partner of your dreams and have decided to
get married. You have no children yet. You both work. You save
every dollar you can save for the baby you plan on having in the
future. You should not buy term life insurance because you are
positive you wont die before you see your dreams fulfilled.

You are planning to buy a house so that the family can enjoy it.
The children, which you plan to have, will be able to run around
their own house. You will be able to toss a baseball at your
son’s glove in your own backyard. You have all the money to buy
this house, so you will need no mortgage. So you have no need to
buy any term life insurance.

You are in good health now and you know that 20 years from now
you will be there to pay those college expenses. You are going
to be there to see your daughter walk up on that podium. May be
she will be valedictorian. So don’t buy that extra $150,000 of
life insurance that will help pay for her college costs.

Possibly you will have no children. As a couple, you enjoy a
truly loving and happy relationship. You know you won’t develop
a life threatening illness that may put you six feet under
within the next year, so you shouldn’t buy any life insurance at
all.

Single Mother With 2 Children To Support

Your husband died, he made some provision for the family, you
have readjusted well. You still have a small mortgage on the
house, your first born will soon be ready for college, the
second will follow in a couple of years. You are quite proud of
the job you did with them. Don’t buy that extra $250,000 of term
life insurance that would guarantee that both children will
finish college. Would you want the balance of the mortgage to be
paid off if you should suddenly die.

May be, you have been fortunate with your investments and you
have a couple million dollars that will be theirs. Estate taxes
have not been repealed as yet. So don’t buy sufficient term life
insurance that would cover your estate taxes. Let the children
pay it. Leave them penniless.

Mr. Businessman

You and your partners have big plans. You feel pretty certain
that these plans will be successfully come to fruition. After
all you have all the best talent in your type of business. Each
partner specializes in a certain area. The future looks great.

You shouldn’t buy that term life insurance on each partner that
would help the company adjust in case of a partners death. You
should not buy that life insurance policy that you could use to
buy out the deceased partners shares from his heirs. Remember
that “buy sell” agreement, may be you have enough funds in the
company to fund it. If you do have enough funds I would say do
not buy term life insurance or any life insurance at all.

All the smart people that I know of ignore the above advice, and
go right ahead and buy the life insurance they need.