Taking a step into the unknown land of life insurance for the very first time might feel a tad daunting, but by keeping the helpful tips listed below in mind, you will soon find yourself being smarter with researching and purchasing the best life insurance policy for you and your family.
When choosing a life insurance policy, it is important that you assess your and your family’s financial needs. Separate what you think you know from what the insurance salesman is telling you. You understand your situation better than any salesperson, which means you know how much coverage you require.
It is important to have sufficient life insurance. You should have enough insurance to cover at least five years of your current salary if you are married. If you have children or many debts, you should have upwards of ten years salary’s worth of life insurance. Insurance will help your loved ones to cover expenses when you are gone.
It is important to have a sufficient life insurance policy. You should have enough insurance to cover at least five years of your current salary, if you are married. If you have children or many debts, you should have upwards of ten years salary’s worth of life insurance. Insurance will help your loved ones cover expenses when you are gone.
Try to lead a healthy lifestyle. The healthier you are the cheaper your life insurance will be as insurance providers assume that you will live longer. Remember, you will be expected to pay a high premium on a life insurance policy for anything that shortens your life expectancy, for example being overweight, smoking, taking certain medication, etc.
Don’t rely on the life insurance plans provided by your employer. The coverage provided by the group term life insurance plans that many employers take out may not meet all your life insurance needs. Also, if you quit your job, you usually can’t take your life insurance policy with you.
Improve your fitness and mental health and quit bad habits before applying for a life insurance policy. Many life insurance providers will offer you a discount based on your physical and mental health. Smoking, being overweight, having high blood pressure and suffering from depression, can all increase the cost of your policy.
Most life insurance companies require you to take a medical exam before they give you coverage. They look at blood pressure, cholesterol levels, an EKG of your heart rate activity, and many other indicators that reveal the presence of any type of disease or risk factors. You can perform better on the test, even put yourself into a higher rate class, by eating low-fat foods for the two days before your test. Drink extra water to maintain hydration, and avoid alcohol for three to four days ahead of the test. Also, make sure you get plenty of sleep for the week leading up to the exam.
So, after reading and applying the helpful tips listed above, you should feel a bit more at ease in the land of life insurance. You have the tools – it’s time to use them. You should feel more confident and ready to start looking for the perfect policy for you and your loved ones.