Life insurance is often one of those things you put off until you're older, but is absolutely essential if you're the major breadwinner of a family. Life insurance protects your family from financial ruin or disaster and may help provide them with shelter, college educations, and coverage of living expenses for years to come in the event something happens to you. However, shopping around for life insurance can be time consuming and frustrating, especially when the least inquiry often prompts a deluge of phone calls from anxious agents desperate to sign you up. Finding the most effective approach to obtaining life insurance can save a lot of time and headaches for consumers.
Step 1
Log onto the Internet to find life insurance information and compare options, types of life insurance, such as term, whole life or universal, and costs. The Internet offers dozens of websites that provide comparison quotes from major life insurance providers around the country, such as LifeInsure.com and Intelliquote.com or QuickQuote.com. Such resources offer quotes from top-rated insurance companies.
Step 2
Input information required to receive quotes. Most commonly, information required may include but is not limited to date of birth, height and weight, desired coverage amount, the length of the police if you're looking for term insurance, as well as your current health. Questionnaires may also ask if you smoke or have any previously diagnosed health conditions.
Step 3
Submit the online inquiry. In many cases, you may receive quotes via email, or you may receive a phone call (or two or three) from prospective insurance brokers or agents requesting additional information for a custom-designed plan that suits your needs.
Step 4
Compare quotes from different carriers. If possible, request printed information to be sent to your home or office address so that you can take time to review options, costs and benefits from between 3 to 5 carriers. In most cases, quotes may be offered from major life insurance providers such as Prudential, MetLife, New York Like, American General, ING and Lincoln, among others.
Step 5
Choose the life insurance policy that best suits your needs and budget. Speak to an agent representing the policy you choose and make sure any and all questions you may have are answered before you sign on the dotted line and submit your first premium payment. If you're not satisfied with his or her answers, move on to your second choice.
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