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Your Financial Life
By Natalie Saar / Jan 11, 2016

How to Get Life Insurance

How to Buy Life Insurance

You may have heard some of the many reasons about why it’s important to consider buying life insurance. Not only can it help your loved ones with paying your final expenses, but it can also help provide them financial protection. This isn’t always a fun conversation, but once you decide that it’s time to buy life insurance, you should explore your options.

But what exactly is it that comes next?

Despite what you may think, buying life insurance is a fairly straightforward process at its core. Here’s how you can go about it:

Determine how much coverage you need.

This may be the least pleasant part of the process to get life insurance because it requires you to think about how much money your family will need if you pass away. Take into account final expense costs, and how much it will cost your family to continue with a similar quality of life in your absence.

Choose the type of life insurance that will work best for you.

There are several different types of life insurance to choose from. To get you started, determine whether you’ll want term life or permanent life. Term life insurance will cover you for the term period you choose. Permanent life insurance is intended to last until you pass away. There are other options, riders, etc. that can help determine the type of life insurance you want, and those will affect the premium cost as well.

Compare policies.

Now that you have a better idea of what you need, you’ll have to whittle down your options to find what’s the best policy for you. There are different ways to compare quotes, both off and online, or you can ask your friends and family what life insurance policy they have. What works for them may not work for you, but it can give you a place to start. You may even be able to opt into a policy that your employer offers as a part of your benefits, if you feel that it offers sufficient coverage.

Make your choice.

You’ve determined what type of life insurance you need, found a policy that has what you’re looking for, so it’s time to position yourself to get life insurance! Some policies will require you to take a medical exam, but that can’t happen until you get started with the process. If you’re struggling to make a decision, or want to make sure you’ve got the most comprehensive set of options, talk to an insurance professional to find out what you want to do.

Now that you have our best tips on how to get life insurance, acting on this information is up to you. If you’re still unsure about what type of life insuranceto get, we can help .

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