Compare Life Insurance Rates

Compare life insurance rates by first looking at the two types of life insurance.

There are term policies, or pure insurance coverage. And there are the many variants of whole life, which combine an investment product with pure term insurance and build cash value.

2.  Insurance is usually sold by agents who earn a commission.

Agents sell the vast majority of life policies written in the U.S. because the life insurance industry has a vested interest in pushing high-commission (and high-profit) whole-life policies.

I personally sold life and health insurance while working my way through college and I can tell you from experience that there is money to be made for the sales agents so be sure and do your own research into which policy best meets your needs and do not necessary go by what you are told.

3.  Whole life insurance is expensive and in most cases not necessary.

Policies with an investment component cost many times more than term policies. As a result, many people, who buy whole life insurance often can’t afford an adequate face value, leaving themselves underinsured.

4.  Whole-life policies are built on assumptions.

The returns quoted by the agent are simply guesses – not reality. And some companies keep these guesses of future returns on the high side to attract more buyers.

5.  Investing and buying insurance should be kept separate.

There are better places to invest – and without the high commissions of whole-life policies. Rule of thumb, buy life insurance to protect your family, not as an investment.

6.  Buy enough term coverage to fill your needs.

Life insurance is no place to skimp, especially with rates at historic lows.

7.  Match the term of the policy to your needs.

You want the policy to last as long as it takes for your dependents to leave the nest – or for your retirement income to kick in.

8.  Buy when you’re young and healthy.

Older people and those not in the best of health pay steeply higher rates for life insurance – so buy as early as you can, but don’t buy until you have dependents.

9.  Tell the truth.

There’s no sense in shading the facts on your application to get a lower rate. Be assured that if a large claim is made, the insurance company will investigate before paying.

10.  Buy life insurance online.

Buying life insurance has never been easier, thanks to the Internet. You can get tons of quotes, take your time, avoid the pushy salespeople and get the best price on life insurance.

Whoa Jimmy?

Send everyone you know who needs to earn money or save money a link to this website. www.increasenow.com

Click below to see more on saving money on life insurance.

http://www.increasenow.com/insurance-term-life/

http://www.increasenow.com/term-life-insurance-rate/

http://www.increasenow.com/how-much-life-insurance-do-you-really-need/

http://www.increasenow.com/compare-term-life-insurance/

http://www.increasenow.com/7-steps-before-you-buy-low-cost-term-life-insurance/

http://www.increasenow.com/how-to-buy-an-affordable-life-insurance-policy/

Compare life insurance rates is always a good idea and if you have any more ideas on saving money on insurance please share with our readers in the comments.