Having our first child was the wakeup call for my spouse and I to finally look into obtaining life insurance. Like many key financial safeguards such as wills, living trusts, and Roth IRAs, the perceived inconvenience and time-consuming process had kept us procrastinating. Yet, we fully grasped the crucial role of life insurance, particularly when others financially rely on you.
Prior to becoming parents, we opted out of life insurance, confident in our financial stability should anything unexpected occur. However, the birth of our child marked a turning point where we resolved to ensure our financial security in case of unexpected events.
Conveniently, the procedure to acquire life insurance was simpler than we had feared, and we had myriad reputable companies like Term Life Insurance at our disposal. The following steps shed light on how the process, surprisingly straightforward, works.
Look for the most suitable rate
Everyone wants the best deal on their life insurance. Instead of wasting countless hours negotiating with endless insurance companies, reach out to an insurance broker whose task is to find you optimal deals on various types of insurances, be it auto, house, or life. Their services won’t cost you a dime as their compensation comes from the insurance company. Plus, they navigate not only local but also distant, out-of-state insurers, expanding your options. We ended up securing a deal with an insurer thousands of miles distant that offered the most attractive rate. Employing an insurance broker is a nearly foolproof way to pinpoint the most advantageous rate for your life insurance. Securing the best-fitting life insurance doesn’t have to be a daunting task.
Answer a questionnaire
Your insurance broker is likely to ask you elementary questions about your health: any past diseases you’ve had and your date of birth, just to name a few.
Arrange an appointment
Upon selecting a company best fulfilling your needs, you’ll have to schedule an appointment for a thorough health check that covers a blood test, along with weight and blood pressure measurements. In most cases, the insurance provider will collaborate with a service that will visit your house to conduct these tests, further facilitating the process.
Await a quote
Following the completion of your medical tests, the company will analyze your results and derive a quote according to their assessment of your health condition. Once you receive the quote, you must make the crucial decision of how much life insurance you want to secure. Although $250,000 may seem adequate now, it might prove insufficient in a couple of decades. Strive to obtain as much coverage as you can comfortably afford to accommodate funeral costs and the welfare of your remaining kin.
The process of securing life insurance is straightforward and not as challenging as it might seem – the key challenge lies in the initiative to kickstart the process. So, what’s stopping you?
