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7 Mistakes to Avoid when Buying Life Insurance

7 Mistakes to Avoid when Buying Life Insurance

Are looking to buy life insurance but concerned about the cost, and overwhelmed by the amount of information you need to sift through to determine the right life insurance policy to protect your family’s financial future? If you’re in the process of researching your options here are 7 Mistakes to Avoid When Buying Life Insurance.

  1. Compare plans with the same terms and conditions, so you get an accurate price comparison
  2. Don’t assume your employer provides enough coverage for your family’s needs
  3. Talk with a qualified financial advisor
  4. Don’t buy a policy and forget about it – review all of your insurance needs every 3 – 5 years to accommodate life events and changes
  5. Be wary of online quotes – online quotes can be a good way to start the conversation with an experienced life insurance provider
  6. Avoid buying Life Insurance without a medical exam to avoid running the risk of being pooled in with higher risk policyholders
  7. Look beyond insurance for only the major breadwinner in your family. Consider how much would it cost to keep your family life running smoothly without your at-home support system or the additional income from a part-time job.

Avoid the mistakes of buying life insurance.  The worst time to find out you don’t have the right coverage is when your family really needs it.

If you have questions about life insurance call us at 800-392-6532.