Grand Rapids Life Insurance - Choose Wisely

1. There are 2 main types of life insurance. When evaluating your life insurance needs you will find that you can choose between term insurance and permanent insurance. Term life insurance policies were designed to protect for a specific time frame. At the end of that time frame the policy would expire. Whole life policies are meant to be permanent polices that cover you for the duration of your life. 2. Life insurance policies are sold through various outlets. On average most life insurance policies are sold by both captive and independent insurance agents rather than through the companies directly. It is important to work with an agent that you trust and ensure that they are selling you the policy that you need rather than the one that earns them the most commission. 3. Permanent or whole life insurance is expensive. Term life insurance is significantly less expensive than permanent policies that contain some type of investment component. Many consumers who purchase whole life find that they can't afford the total amount of coverage they need. This leaves them in a situation where they are underinsured. Make sure you have a basic understanding of how much coverage you need before you begin shopping for life insurance in Grand Rapids. 4. Permanent or whole life returns are just projections. It is important that you realize any illustrations presented to you for whole life insurance are just projections not guarantees. Some overzealous companies will present inflated projections to attract more buyers. 5. Keep your life insurance and investments separate. There are significantly more attractive investment options outside of the insurance world. A lot of times I find that the permanent life insurance policies actually benefit the agent selling the policy more than the client. 6. Make sure you purchase enough term life insurance coverage. Life insurance in Grand Rapids MI is relatively cheap especially if you purchase it while you are young and healthy. Life insurance is not something you want to skimp on. 7. Consider how long you wish to be covered. Term insurance policies are generally sold for a period of anywhere from 10 - 30 years. If your need is short term you may want to consider a 10 year term policy. If you are thinking more long term the 30 year term policy may be a better fit. 8. The best time to buy is when you are healthy. The healthier you are the cheaper the rate. Many consumers miss out on affordable Grand Rapids life insurance because they wait too long to purchase it. Too many people wait until they have received bad news about their health before they consider purchasing a policy. 9. Be straightforward with your life insurance carrier. Before an insurance company pays out a large death claim they will conduct an investigation. Make sure that you are honest when filling out your application so you don't give the insurance companies any reason to deny a claim. 10. Purchase life insurance online or through an independent insurance agent. Thanks to technology it has never been easier to compare life insurance rates from multiple companies. In a matter of minutes you can see the rates from multiple top-rated companies eager to earn your business. So what are you waiting for? Protect your family today with a Grand Rapids life insurance policy.

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