Ten of Life Insurance

1. All policies fall into one or two camps. There is a policy or a pure term insurance cover. There were several variants of the whole life, combined with a pure investment product with term insurance and make a cash value.
2. Insurance is sold, not bought. The agents selling insurance products sometimes by exaggerating the product, because they expect high commissions from sales of life policies. In addition the level of competition in the life insurance industry is also more stringent.
3. Whole life is expensive. Policy with an investment component cost many times higher than the policy term. As a result, people who buy whole life often can not receive the present value of adequate, leaving them under the insurance.
4. Whole life policy is built upon assumptions. Agents presenting forecasts in the future, not the reality. Some companies defend this presumption of future returns on the high side to attract more buyers.
5. Keep your insurance and investments strictly separate. There are better places to invest and without the high commission of a lifetime policy.
6. Buy enough to fill the term of protection you need. Insurance is not the place to skimp, especially with the rates in history is always low. Use a calculator to get a rough idea of ​​how much insurance you need.
7. Customize your policy term as needed. You want a policy that would shut down as long as you rely on savings or for retirement income.
8. Buy now healthy. Parents are generally health is not in the best position, they must pay a higher rate of life insurance. So buy insurance as early as possible as you can, do not wait until you start to depend on.
9. Tell the truth. Just point out the facts on your application. And make sure if you make a claim in large numbers, the company will conduct an investigation before paying.
10. Use the Web to shop. Buying life insurance has never been easier before the arrival of the Internet. You can get a lot of answers from a website, without the hassle of sales agents.