Never Forget these 3 Best Tips when Buying Life Insurance

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If you’re currently shopping for a life insurance policy, bear in mind to do the following:

  1. Never choose the first life insurance option you see

If you are working with an insurer, never trust the first insurance company that they recommend. In order for them to make an informed decision or recommendation, they need to know your current financial situation, debts, and other money-related concerns that you may have. Even if you have an insurance broker to help you out, do your own research too!

  1. Know how your insurance broker gets paid

Insurance brokers get paid in three ways: commission only, fee-plus-commission, and fee only basis. Those who work on commission may only promote a life insurance option from one or two insurers because they will get paid if they do have a successful referral. The insurance they are selling may not be the best, and brokers are often faced with conflict of interest when this happens. Make sure to do your thorough research on the different life insurance options too!

  1. Insurance is for protection and not an investment tool

Term level insurance primarily provides protection. It does not have a savings or investment component unlike permanent life insurance policies. On the other hand, whole life and universal life all both under permanent life insurance are both expensive in nature due to the savings component and cash value that can be used by policy owners in the case of emergencies.  If you’re not that keen on investing, it’s always best to get protection first and foremost. You may also use the extra cash in more worthwhile products or services for investment.

Why My Elderly Mom Bought Life Insurance

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I always thought that life insurance (like lifeshieldhq.com) was something that you bought when you were young. I assumed that insurance companies wouldn’t be willing to insure an elderly person. After all, people are more likely to die when they’re older. It struck me as a big risk.

That’s why I was so surprised to hear why my old mom bought life insurance. I didn’t even think it was a possibility for her, so her story was truly stunning to me.

My mom explained that she’d never considered getting life insurance when she was younger. My dad had a policy, and that was enough.

However, my dad passed away in his 50s, and my mom is still alive and healthy today. After some time, she started to wonder if she should try to get life insurance too.

She looked at her options and found a company that specialized in life insurance for the elderly. Although my mom had to pay higher rates than my dad did, she was able to secure a policy.

My mom bought life insurance because she knew how much it helped when my dad died. She wanted to be able to do the same for us when she passed away. I really appreciate what she has done for our family.

Importance of actually taking some time when it comes to making a decision

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As a consumer and as a driver, it is important that you make an educated decision when it comes to purchasing car insurance. In fact, purchasing insurance (check out online auto insurance) shouldn’t be a decision made in haste. What many drivers overlook is the importance of actually taking some time to really look at car insurance quotes and compare them.

Many companies will often offer competitive rates in order to reel you in, but what you must really ask yourself is: are you getting the coverage you need? You may find out a tad too late that the quote you thought really suits your needs isn’t going to in the long run. Before you sign with a company, look at the compelling reasons below why you should compare car insurance quotes.

Save Money

Comparison shopping really pays off because it can save you money. If you have some time on your hands, look at different quotes and take note of what you’re getting for your coverage. Depending on where you live, your marital status, age of your car and even credit rating, you can expect to be charged more or less for car insurance.

Take into account that some companies charge more than others which is why it really helps when you look at several quotes.

Save Time

The Internet makes shopping for a new insurance policy much easier than it once was. In fact, you only really need to fill in the details once and you can get several quotes to compare side by side. All it takes is a couple of minutes of your time. You no longer have to call insurance companies on the phone in order to get the quotes you need.

Shop When You Want

Most people lead busy lives, and you’re probably no different. This means that calling insurance companies for a quote may be out of the question. When you decide to compare quotes online, you are taking matters into your own hands and shopping on your own terms.

Get The Right Policy

Comparison shopping online is the only way that you can ever really end up with the car insurance coverage that addresses all of your needs. You may want bare minimum coverage or you may need coverage with roadside assistance, but those are all things that you can easily get included in your online quote. You may even find that even with your tight budget, you can end up getting even better coverage than your originally anticipated.

Instant Insurance

The best part about getting insurance online is that you can get insured right away. The moment you purchase your new coverage, most companies will provide you with a printable temporary pass that allows you to cancel your old policy in favor of your new one.

As you can see, there are numerous benefits to reap when you decide to compare car insurance quotes online. Not only do you save time and money, but you can end up getting a better policy than what you already have.