CAPUT58

* After determining your needs for life insurance using the Life Insurance Needs Analysis, you may have to decide on how much you want to buy, for how long and how much you can afford to pay. Be sure that the premiums are within your ability to pay. Don’t look only at the initial premiums, but take into account the possibility of future premium increase.

* Shop around and learn about the different types of life insurance policies that are available and that best suits your needs.

* Ask about comparison index numbers, and check several companies which offer similar policies. Remember, smaller index numbers generally represent a better buy when using the Net Payment Cost Comparison Indexes. And larger index numbers generally represent a better buy when using the Life Insurance Yield Comparison Indexes. Compare the financial strength ratings from top-rated life insurance companies by referring to the A.M. Best and Standard & Poor. Also compare quotes of similar products among the insurance companies. You can either engage the insurance agents to provide you with the quotes, or you can get your quotes online without any charges.

* Decide on the life insurance companies that provides quality insurance products, value, a wide selection of choices, low prices, accurate quotes and services that are reliable and responsive. Some life insurance companies do offered their insurance products online where you can get instant quotes free and make an online application from their website. It is fast, simple, and hassle free. You may want to consider the future performances and financial results of the insurance companies as they affect the cash values of the life insurance policies that you may want to buy. Some factors that may influence a life insurance company’s performance are expenses, mortality rates and investment performance.

* Make sure you feel confident in your insurance agent. Engage a professional licensed insurance agent with years of experience who is honest, efficient, patient, personable and timely in responding. A good insurance agent will be able to provide you with knowledge you need to make informed decisions, and personalized caring service dedicated to making your insurance buying simple and convenient.

* Read your life insurance policy carefully. Ask your agent or the life insurance company on matters that may not be clear to you. Do not sign an application until you review it carefully to ensure that the information is complete and accurate.

* Do not buy a life insurance policy unless you intend to stick with your plan. It may be very costly if you quit during the early years of the policy.

* When you buy a policy, it is always the best practice to make the check payable to the life insurance company and not the agent.

* Review your life insurance program with your agent or company every few years to keep up with changes in your income and your needs.

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