August 21, 2006 2:24 AM
Life Insurance Buying Tips
Some time-tested tips for life insurance buyers from the Office of the Insurance Commissioner of Washington State. If short, all life insurance buying tips can be reduced to two: sticking to term life insurance and comparison shopping.
From Washington State Office of the Insurance Commissioner:
Term life insurance: Most consumer advocates feel that term insurance is the best life insurance buy. Term is different from "whole life" or "ordinary life" in that you build up no equity, or cash value. In term, you pay each year for the cost of insurance, which typically increases annually as your chances of being alive the next year decline. Most term policies are renewable on an annual basis, and some have level premiums or a decreasing death benefit for a stated period -- one, five or ten years, or even to a specified age.
Shop around for rates: Life insurance is a competitive marketplace, and much of the competition focuses on price. Don't hesitate to seek premium quotes from several different companies.
10/29/06 | Does Permanent Life Insurance Make Sense?
10/25/06 | How Much Life Insurance Do You Need?
10/06/06 | Buy Term Life Insurance And Invest The Difference?
10/05/06 | What Is Level Term Life Insurance?
10/05/06 | How To Choose A Good Term Life Insurance Company?
10/05/06 | Different Types Of Life Insurance Plans
10/05/06 | How Your Life Insurance Rate Is Determined
10/05/06 | 25-Year Term Life Insurance May Be A Good Choice
10/05/06 | Quick Facts About Viatical Settlement?
10/05/06 | Decreasing Term Life Insurance: Quick Facts
09/20/06 | What Is Adjustable Life Insurance?
09/13/06 | How To Save On Life Insurance
09/13/06 | Term, Whole, Or Return Of Premium. Which Life Insurance Is Best?
08/26/06 | What Is "Return of Premium" Term Life Insurance?
08/25/06 | Term Life Insurance: Level Term vs Decreasing Term
08/24/06 | Why Should You Buy Life Insurance?
08/23/06 | Yes, Smokers Can Still Get Term Life Insurance
08/22/06 | Life Expectancy Table
08/20/06 | Term Life Insurance Comparison Shopping on the Web
08/15/06 | The Benefits Of Term Life Insurance