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Top 3 Things You Need To Know About Life Insurance

For most people, thinking about the possibility of an untimely death can be an uncomfortable experience.  However, as we travel down life’s unpredictable path, we will acquire responsibilities and debts along the way that can seriously impact our closest loved ones if we were to suddenly die. Although it may be an unpleasant thought to consider, it is our responsibility to protect our loved ones. This involves making sure they are not left with an overwhelming debt load that impacts their quality of life. One way to protect your family is to purchase life insurance.

Buying life insurance will ensure that your loved ones are able to settle outstanding debts such as a home mortgage, and set aside money for future plans such as the children’s education. When searching for a suitable life insurance policy, it is important to be aware of the following top 3 things people should know about life insurance:

1. The two general life insurance categories are Permanent Life Insurance and Term Life Insurance. Permanent life insurance is insurance that covers an insurer for life. Term Life Insurance is insurance for a specific time period. The benefit is paid out if the insured dies during the term of the policy.

2. The life insurance industry is a business. It is important to shop around for an affordable and quality policy. A helpful tool is an insurance online comparison quote service that allows users to submit a bit of personal information and then receive several different insurance quotes from different insurance companies.

3. Honesty and good healthy is important when purchasing a life insurance policy. The best time to buy life insurance is when you are in good health. When you are healthy, including being a non-smoker, you will receive a lower insurance quote.

This entry was posted on Monday, April 19th, 2010 at 4:29 am and is filed under Life Insurance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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