- Listed: January 5, 2015 6:25 pm
- Expires: This ad has expired
If you haven’t yet purchased a life insurance policy and are currently considering the benefits of one, now could be the best time to start shopping. Planning for your future and that of your family depends on wise decisions, especially in life insurance policies, and these tips could help you along the process.
Don’t put off buying a life insurance policy. The older you are when you purchase the policy, the higher your premiums will be, even for the same amount of coverage. Also, if you are young and healthy, you won’t have any trouble getting approved for coverage, which might be a problem as you grow older.
When you are thinking about how much life insurance to purchase, it’s a good idea to get at least eight or ten times the amount of your annual income. With this amount, if something happens to you, your dependents will be able to invest wisely and continue to take care of their living expenses in the long term.
Term life insurance is the most effective for a single parent. Whole life completely disregards the reason you are looking for insurance and that is to take care of your children in case of tragedy. Term life is much more affordable than whole life and it provides all of the protection you need to care for your family.
Life insurance companies often charge cigarette smokers double the usual premium. A way to reduce the monthly cost of your insurance, is to quit smoking if you are a smoker. Another way to bring your premium down is to stay in shape. Physically fit, non-smokers are at far less risk for developing illness and diseases.
Make sure you don’t get too much or too little life insurance. Figuring out how much you need can be a confusing process, but it will save you a great deal of grief in the end. Think about the balance of your mortgage, property taxes, college tuition and other needs when you are trying to evaluate how much coverage to buy.
It is crucial that you ask if a potential life insurance policy covers accidental death, as some insurance companies will not cover this. Anything can happen to you and want you to be assured that your family will be able to pay for your final expenses. If you are unsure, ask your insurance company.
Choose permanent life insurance if you want to build cash value. Building cash value in a life insurance policy helps you have additional cash for the future. The insured can borrow the cash value at a low interest rate. They can also use it to pay the premiums. The cash grows tax-free, and some financial planners recommend it as a way to cover estate taxes as part of a comprehensive financial plan.
Buy the right amount of life insurance to cover all of your needs. Skimping on life insurance is not a good idea. Term insurance, especially, is very affordable, so make sure you get as much insurance as you need. If you treasured this article therefore you would like to receive more info concerning Over 50 life insurance generously visit our web-site. For a rule of thumb, consider buying insurance that equals approximately 6 to 10 times your income.
Take advantage of the accelerated death benefit option if it’s offered by your insurance company. This life insurance benefit allows the policyholder to receive a substantial amount of the death benefit of the policy, in the case of a terminal illness. This can allow the insured to use this benefit to cover things such as medical costs, experimental treatments, a trip, home improvements or nursing staff.
If you use the information that has been given you should know what questions to ask your issuance agent and what to look for in the policy. Having a great life insurance policy is one of the only ways you are going to be able to make sure that your family is okay after you are gone.
509 total views, 1 today
Information about the ad poster
- Listed by: Krichauff Joan
- Member Since: October 9, 2014
Other items listed by Krichauff Joan
- Handy Advice You Can Use To Get A Better Life Insurance Deal
- Life Insurance Tips You Must Read Today
- Helpful Advice For Getting The Most From Your Life Insurance
- Great Tips For Getting The Most Of Your Life Insurance
Popular Ads Overall
- The Secret To Citicards Online Payment (43964 views)
- Citibank E Banking Secrets Revealed (36528 views)
- The Lost Secret Of Pinterest Blogs (18169 views)
- What To Expect From Aol Com Sign In Mailbox? (17320 views)
- Never Lose Your Facebo Ok Login Again (14135 views)
- Master The Art Of Www.facebook Application With These 7 Tips (13010 views)
- Gmail.com Login – An In Depth Anaylsis on What Works and What Doesn’t (11360 views)
- What’s Really Happening With Mail.yahoo.com Login (10530 views)
- How To Gain Paypal Login My Account (9377 views)
- Picture Your Hotmail.com.login On Top. Read This And Make It So (9252 views)