Readers Question:

What things should I know before I buy my first life insurance policy here in Missouri? Thanks!

Glenda

Springfield, MO

Everyone, especially first-timers, interested in getting the right kind of life insurance coverage at the best price, here are five essential tips to keep in mind:

Tip # 1: Know The Basics

In a nutshell; there are two types of life insurance policies, Term life and Whole life. Term is best for people only needing life coverage for a certain period of time in their life, such as while raising a family, or paying mortgage. This is the cheapest and simplest kind of life insurance. Whole life is for those who are investment savvy and would want a portion of their premiums going into a form of savings (cash-value), while having permanent coverage.

Tip # 2: Know How Much To Buy

Factor in the immediate needs of your family/dependents such as living expenses and financial obligations, and buy the life insurance coverage amount that would cover those needs for at least the next few years in the event of your untimely demise.

Tip # 3: Shop For Rates Effectively

Get the most competitive prices when it comes to your Missouri life insurance (or wherever you are) by using specialized websites called life insurance portals (youre on one right now). These allow you to compare prices and offers effectively; by giving you free access to the latest rates from a wider selection of providers in the market today./p

Tip # 4: Do Your Homework

Life insurance is a long-term commitment, so choose your provider carefully. Independent rating agencies such as A.M best and J.D Powers rates many different companies based on important categories, such as claims handling, financial stability and customer service. These are vital information to anyone who wants to make sure they choose a competitive and reliable insurer.

Tip # 5: Aim For A Healthy Lifestyle

Finally, nothing beats the perks of healthy living. Smoking alone can push rates up 300 – 400% higher than average, so there is definitely thousands of dollars to be saved annually if you decide to quit now. The longer you live, the lower your Missouri life insurance rates will become.