President, Lane Independent Agency, Southern California
First of all, it is one you can afford. One you will continue to pay and not allow to lapse. Any insurance is better than no insurance, so get something and get it now. The younger you are, the less it will cost. If you can get a permanent policy, that will lock in your price for the rest of your life, regardless of your health in the future. If you cannot afford whole life now, then at least get term coverage right away. The better the reputation of the company the more reliable they are likely to be. Go with an old, large company. They are likely to still be around and offer you the variety you want at a fair price. Think about all your financial needs and your family's. Then try to get a face value to protect all of that if you can afford it. Again, remember, something is better than nothing. Gary Lane 949 797 2424. New York Life Agent.
>is with a reputable company (rated A or better by AM Best),
>has good guarantees (e.g. if term insurance, the premium is guaranteed not to go up for the entire term),
>is with an agency that provides good service (you have to ask about this; sometimes it is easier to get a hold of online agents than local offices),
>fits your budget (you don't want to have to drop your policy a year later because you can't afford it), and
>covers your needs (you don't want to take out $10,000 in Whole Life if you want the life insurance to protect your mortgage).
That last point covers a lot of area, as there are different types of policies to fit many different purposes for life insurance. The best way to get a good life insurance policy is to contact a good life insurance agent who will guide you through the options and help you find the beset for your situation.
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>is with a reputable company (rated A or better by AM Best),
>has good guarantees (e.g. if term insurance, the premium is guaranteed not to go up for the entire term),
>is with an agency that provides good service (you have to ask about this; sometimes it is easier to get a hold of online agents than local offices),
>fits your budget (you don't want to have to drop your policy a year later because you can't afford it), and
>covers your needs (you don't want to take out $10,000 in Whole Life if you want the life insurance to protect your mortgage).
That last point covers a lot of area, as there are different types of policies to fit many different purposes for life insurance. The best way to get a good life insurance policy is to contact a good life insurance agent who will guide you through the options and help you find the beset for your situation.