Archive for May 23rd, 2012

Tips To Help You Shop For Life Insurance


It is imperative to buy life insurance from a reputable and established company. Insurance companies are not all alike, and it’s unlikely that they ever will be. Research insurance companies, especially the established ones, they generally are financially sound and offer quality investments.

If you are healthy then you’re going to pay much less for any type of life insurance. If you plan to purchase a life insurance policy in the near future, give yourself a head start and make healthy lifestyle changes to ensure that you are in the best shape possible. Get a complete physical and check your cholesterol, stop smoking and shed those excess pounds. Keep your premiums to a minimum by staying healthy and fit.

Make sure your broker is willing to answer difficult questions authoritatively. Ask if your policy can be renewed, if you can cancel it at anytime, and if you have premium guarantees. This is all extremely important information if you are looking for the greatest deal.

You might think it is a good idea to exercise before you go in for your medical check up. However, this will actually cause your blood pressure to rise, and may give a false reading to the doctors.

If you have a spouse, consider a joint-life policy, as you may be able to get a good discount on it. If saving money sounds good to you, this is a great option. This kind of policy will not offer two payouts, and will end after one spouse dies.

Purchasing your life insurance policy through an independent broker has many advantages that dealing with a firm would not pose. Independent brokers work with many different companies, meaning that your purchasing options are greatly increased. They also allow you to cost compare policies in one location, meaning that you could see a substantial savings over just looking into one company. Always shop around before you make any decision, because life insurance will be a long-term obligation.

Becoming knowledgeable of life insurance is invaluable, but so is the advice of a trained professional. This can help you make a better decision about the coverage you need since they can give you answers to your questions, or even help make some changes to your chosen policy.

Don’t waste time with the “guaranteed issue” insurance policies if it is possible. These polices are intended to provide coverage for those with existing health problems. This type of life insurance does not require a medical exam, but you will pay much higher premiums, and the coverage is only available in very limited face value amounts.

Find out if your employer offers a life insurance option. You can save a lot of money by getting insurance through your employer, and they might even make contributions to your plan. Be sure to understand what happens to any policy you have through them if you are terminated.

Abstain from drinking coffee and other heavily caffeinated products prior to a medical exam for life insurance. Even though caffeine is legal, it’s a stimulant, and has properties that can increase your heart rate, elevate your blood pressure, or make you feel anxious. This can hurt the results of your examination.

Work with a financial advisor to purchase life insurance, instead of a broker. Brokers will earn a commission from every life insurance policy they sell you. However, financial advisers receive a flat fee. Because of this, a financial adviser will be far less driven to make a sale, and is more likely to be honest with you.

The advice you have been provided with will provide you with the confidence you need to purchase the life insurance plan that best fits your needs. You are now in a better place to purchase a policy that you understand and one that is affordable for your needs.