Buy Life Insurance
You are going to die. Sorry but it's true. Right about now you are probably thinking…"what a horrible thing to write about," but hold on one little minute! Stay with me! The purpose of this HUB is to discuss the various ways (other than an insurance agent) to buy term life insurance. Life insurance is a huge market and a very competitive one at that. If you do have an agent, it is a good idea to discuss term life insurance with him or her and then shop around to see if you can find a company with a better offer (it is possible!). Buying life insurance is kind of like buying a car. You bargain shop, do your homework and then go with the company that presents the deal that is the best fit for you and your needs.
Life Insurance On the Internet and Beyond!
One of the most obvious places to begin your search for the perfect life insurance plan is on the internet. There are many sites on the world-wide-web set up to comparison-shop term life insurance plans for you. This is wonderful…but not so fast! Before you buy, make sure you do your research, talk to a company representative and ask a LOT of questions. Remember, you are searching for a "balanced" insurance policy that you can afford and will cover major risk areas (in this case, your family) should you pass away (and I promise you will sooner or later).
Have you ever received a telephone call (or should I say telemarketer call) from your credit card company offering to sell you life insurance? If I was a betting man, I would say that you have. My wife and I get these types of calls weekly. In a nutshell, credit card companies offer you a deal in which your balance would be "paid in full" should you die. While this sounds wonderful, the rates that they offer are much higher than normal and the creditor (not your survivors) is the beneficiary. If possible, avoid buying life insurance through a credit card company. There are better policies and better deals out there.
Most employers (especially large companies) offer free life insurance. Without a doubt…take it! In fact, you should sign up for all of the free life insurance that your employer offers…why not!? If you want additional coverage it is a good idea to buy it privately. Why? Well, for one thing, you might not be at your current job forever…so it is a good idea to keep your life insurance policy separate so that the rates do not go up should you leave. Trust me, this has been known to happen.
Ahhh…good old fashioned snail mail! Who hasn't received a life insurance offer in the mail!? Avoid these offers UNLESS you cannot get insurance any other way! They usually cost an arm and a leg and are run by un-known, "fly by night" companies. Now this is not to say that insurance companies who solicit business by mail are ALL bad. Just use extreme caution, REVIEW all documents, ask a lot of questions and get everything in writing…BEFORE YOU BUY!
Over all, life insurance is very important…especially if you have children or people who depend on you. Take your time and find the perfect policy…one that fits your needs and one that you can afford! It is smarter to figure out how much life insurance you need and buy ONE policy (it is much cheaper than buying… as they say in the business…"in pieces"). Good luck and here's to living a long, happy life!
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