Considering life insurance this summer?
Wanting to up the total amount of coverage for your family?
Seeking to protect your family?
Confused about life insurance?
Facing a wall of bewildering questions about various life insurance types and forms?
Being sold an overpriced life insurance product that you neither need or understand?
Prepare yourself for your life insurance meeting with a standard list of questions. These questions can assist you in what to ask your life insurance agent.
- Is your life insurance agent an Agent or a Broker, a Captive Life Insurance Agent or an Independent Life Insurance Agent?
- How do they get paid?
- Whose interest do they serve?
In order for your to get the best price on life insurance you will want to prepare yourself. Failure to prepare yourself may mean that you vastly overpay on life insurance.
Why would you want to overpay for life insurance?
Some Basic Forms of Life Insurance:
Life insurance comes in many forms and types.
The basic types of life insurance are:
- Whole Life, a form of cash value life insurance.
- Universal Life, another form of cash value life insurance, more complicated than whole.
- Variable Life, an extremely complex form of cash value life insurance which is invested, generally with in the market. Only a registered broker can provide.
- Term Life, pure life insurance, with no cash account.
- Group Life, typically through an employer or group. Different types available.
- Others, there are other options – this is not intended to be a complete list.
Why you need to be Prepared with Questions for your Life Insurance Meeting:
The cash value forms of life insurance are the ones that are the most often pushed by life insurance agents for you to buy. If you are not prepared with some basic knowledge about life insurance, the agent may end up selling you a form of life insurance that you did not want. Rarely do insurance agents offer up Term Life Insurance as the premium option. However this life insurance choice is the one that is suggested by the vast amount of financial gurus out there.
Just google the term “term vs whole life” and read the articles and message boards. A debate is raging and term life insurance is winning.
You will want to be prepared with a standard list of life insurance questions to ask your future life insurance agent.
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About Whole Vs Term Life Insurance .com:
We are a client based operation with a financial focus that believes in educating our clients about the various life insurance options. In contrast to the vast majority of life agents we do NOT believe that whole life insurance is a good deal for the vast majority of Americans. There are really very few modern and good uses of whole life insurance.
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