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A life insurance policy should meet your financial goals at a cost you can afford. Because of the complexity of the different types of plans available, and possible adverse tax consequences if the wrong decision is made regarding withdraws or a surrender, it is vital to work with an experienced broker.
We compare, advise, and shop for our customers, and simplify the buying process. However, proper financial planning is not simple, and requires careful and comprehensive review.
The life insurance policy at purchase should meet your personal unique needs. Is the face amount adequate to cover my loved ones financial needs such as debt, income replacement or for a business the key person's value to the company? If cash value plans does it meet the retirement goals you were aiming for?
Once the policy is purchased the components of the policy to look for are, first the declaration page. This is one of the first pages of the policy and is a summary of coverage. the death benefit, premiums paid, terms and dates concerning your coverage. Next look for the illustration pages. These pages explain any cash value building in your policy or if term the guarantee lengths of premiums and any future rate increases. Lastly find the terms and conditions page. This page explains any exemptions, waivers or riders on your policy. Your loved ones should not be surprised at an untimely death that a benefit is eliminated or reduced. Always seek advice of a professional broker to avoid any unexpected issues.
1) Decide on that term (length of coverage). It should be long enough to see your kids grown and through college (20 -25 years, is typical) and major debts paid.
2) Determine the amount of coverage. Use an online insurance needs calculator. There is one that is thorough and easy to use at http://www.qualitytermlife.com/#needs.
Once you've decided on term and coverage...
3) Comparison shop. There is a big difference between costs from insurer to insurer. Again, visit a site where you can get term life insurance quotes from most of the top insurance companies.
4) Talk to an agent. They can often get you an even lower price, especially if you have complicating factors (health, age, other needs).
The three big concerns: Affordability, proper coverage, good customer service/reliability. Beware of anything that seems too affordable, promises a large amount of coverage for very little, or unanswered calls or emails. Shop for insurance like you would for a car, one that fits your needs and budget, and that you are proud to be seen with!
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We compare, advise, and shop for our customers, and simplify the buying process. However, proper financial planning is not simple, and requires careful and comprehensive review.
Once the policy is purchased the components of the policy to look for are, first the declaration page. This is one of the first pages of the policy and is a summary of coverage. the death benefit, premiums paid, terms and dates concerning your coverage. Next look for the illustration pages. These pages explain any cash value building in your policy or if term the guarantee lengths of premiums and any future rate increases. Lastly find the terms and conditions page. This page explains any exemptions, waivers or riders on your policy. Your loved ones should not be surprised at an untimely death that a benefit is eliminated or reduced. Always seek advice of a professional broker to avoid any unexpected issues.
2) Determine the amount of coverage. Use an online insurance needs calculator. There is one that is thorough and easy to use at http://www.qualitytermlife.com/#needs.
Once you've decided on term and coverage...
3) Comparison shop. There is a big difference between costs from insurer to insurer. Again, visit a site where you can get term life insurance quotes from most of the top insurance companies.
4) Talk to an agent. They can often get you an even lower price, especially if you have complicating factors (health, age, other needs).