Having our first child was the wake-up call my spouse and I needed to finally look into getting life insurance. Like other important financial tools such as wills, living trusts, and Roth IRAs, the perceived hassle and lengthy process had made us keep putting it off. However, we understood how essential life insurance is, especially when others depend on you financially.
Before becoming parents, we felt secure enough financially to opt out of life insurance. But when our child was born, we decided it was time to make sure we were financially prepared for any unexpected events.
To our surprise, getting life insurance was easier than we anticipated, and we had plenty of reputable options like Term Life Insurance. Here’s how the simple process works:
Find the Right Rate
Everyone wants the best deal on their life insurance. Instead of spending endless hours negotiating with numerous insurance companies, contact an insurance broker. Their job is to find you the best deals on various types of insurance: auto, home, or life. Their services are free because they get paid by the insurance companies. Plus, they look beyond local options, including out-of-state insurers. We ended up getting a great rate from a company thousands of miles away. Using an insurance broker is one of the best ways to find the most beneficial rate for your life insurance. Finding the right life insurance doesn’t have to be hard.
Answer a Questionnaire
Your insurance broker will likely ask basic health questions, such as any past illnesses and your date of birth.
Schedule an Appointment
Once you choose a company that fits your needs, you’ll need to set up an appointment for a complete health check-up, which includes a blood test, and weight and blood pressure measurements. Usually, the insurance provider works with a service that can come to your home to conduct these tests, making it even more convenient.
Wait for a Quote
After your medical tests are done, the company will review your results and give you a quote based on their evaluation of your health. Once you get the quote, you’ll need to decide how much life insurance you want. Although $250,000 might seem like enough now, it may not be sufficient in a few decades. Aim to get as much coverage as you can afford to cover funeral costs and ensure your family’s well-being.
Getting life insurance is simple and not as daunting as it seems. The hardest part is just starting the process. So, what’s stopping you?