Buying life insurance coverage in 2019.
There are a lot of misconceptions about purchasing life insurance. Fortunately, it’s a lot easier than most people think. If one of your 2019 resolutions is to secure life insurance, here are a few things you should know.
Coverage doesn’t have to be for life.
There are generally two types of life insurance – term and permanent. Term insurance covers you for a certain amount of time, such as 5, 10, 30 years. These policies are generally incredibly affordable and offer valuable protection. If you want whole life coverage, a permanent policy is the way to go. It covers you for your entire life and builds a cash value. These premiums tend to be higher than a term policy but have significant benefits, depending on your needs.
It’s less expensive than you think.
Americans grossly overestimate the cost of life insurance. Some consumers even estimate that the cost of their life policy by as much as ten times its actual cost. In reality, working with the right insurer can help you secure a reliable policy to suit your needs and budget.
You might not have to take an exam.
When people are thinking about applying for life insurance, many times the part they dread the most is taking the medical exam. If you’re one of those people, note that you may not have to take the exam. If you have a health condition that could cause a traditional policy rate to skyrocket, we suggest opting for a no-exam policy instead. Not only do you save your time, but you can save some money as well.
Make sure you have the right life policy that steps in when your family needs it the most. Talk to a trusted life insurance advisor to determine your policy and coverage exactly. Contact Donald Weiss Insurance Services to get started on your coverage today.
