Life insurance these days has so many options available as far as products go that it has become easier and easier to hone in to just exactly the right product for your life and your needs. Along with the huge increase in options is the need to have a professional independent insurance agent help you understand how best to choose or combine different options.
The good old days were simple. There was whole life insurance and you had a choice of what company you wanted to purchase it from. Today, while whole life is still an option, there is now universal life, universal life with no lapse guarantees, variable whole life and universal life. Along with all of those permanent options there are guaranteed level term insurance options from 5 to 30 years and return of premium term insurance. And for those small needs there are final expense policies or burial policies and finally, for the technically uninsurable, there is guaranteed issue graded whole life.
I’m not saying you can’t figure out the appropriate route on your own. All I’m saying is that professional advice can save you huge amounts of time and money. With the number of people who die each year “looking into” life insurance, time is an important consideration.
This post is somewhat dated. Life insurance underwriting is changing and evolving continually. For more updated information check out some of the key word links. If you have a specific question or topic you need information for do a search. If you don’t find the answers you need contact me and we’ll make sure you get the information that is important to you.