Life Insurance Shopping Checklist
Posted on May 6, 2008 - Filed Under Business | Leave a Comment
The number one rule when you are buying life insurance is to shop around! We ran quotes on ten of the top life insurance companies for the same individual, and the same 20 year term and $100,000 policy, and we found that the premium varied by as much as $300 a year!
Before you shop, think about your needs. Most of us need more life insurance while our children depend upon us for food, clothing, and education. Then, after the children have left to support themselves, we only may need several thousand dollars to cover final expenses like funeral costs and debt settlement. Or we may use life insurance as a vehicle to pass wealth on to the next generation, and so we want to keep a higher dollar policy in force our whole lives.
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