Life insurance is an essential part of financial planning. One reason
most people buy life insurance is to replace income that would be
lost with the death of a wage earner. The cash provided by life
insurance also can help ensure that your dependents are not burdened
with significant debt when you die.
When you buy life insurance, you want a policy which fits your needs
without costing too much. Your first step is to decide how much you
need, how much you can afford to pay and the kind of policy you want.
Then, find out what various companies charge for that kind of policy.
If you compare Surrender
Cost Indexes and Net Payment Cost Indexes of similar
competing policies, your chances of finding a relatively good buy
will be better than if you do not shop.
Three Basic Kinds of Life Insurance
Regardless of how fancy the policy title or sales
presentation might appear, all life insurance policies contain
benefits derived from one or more of the three basic kinds shown
below. Some policies due combine more than one kind of life insurance
and can be confusing.
Rates and coverage vary form state to state. Shop around on your own
and talk to an independent insurance agent to make sure you get a
plan that's right for you. It's amazing how much rates may vary from
company to company for the same coverage. For more information and
rates on life insurance visit our specialist site below.