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Top 6 Questions to Ask When Buying Life Insurance

A number of factors go into buying life insurance and estimating your coverage needs. If you already know your financials, try our life insurance calculator. It will give you a sense of what you’ll need to consider for coverage. Plus, it offers three financial planning scenarios for what you could leave your beneficiaries. Here are a few more common considerations that go into buying life insurance. Does Your Employer Offer Life Insurance Coverage? If your employer offers life insurance coverage, it can be a cost-effective way to supplement your needs. Large employers negotiate group rates, helping with premiums. And those premiums often come straight out of your paycheck, so you hardly miss it. Life insurance through work is usually a supplement to buying life insurance on your own. It often benefits people to also purchase private insurance outside of their employer. Why? The average person will switch jobs 12 times…

How Your Life Insurance Quote is Determined

Life insurance plays an important role in protecting your loved ones from financial burden. Single or married, in your 20s and 30s or older, with kids or without, most people benefit from some level of life insurance. However, the perceived cost often holds people back from buying a life insurance policy. It’s assumed life insurance is expensive. A misconception that’s untrue for many people. How are Life Insurance Quotes Determined? The process of getting a life insurance quote is simple. You’ll start by filling out a questionnaire. This helps your SelectQuote agent provide a side-by-side comparison of prices from highly reputable insurance companies. Your SelectQuote agent will help you find a plan that works for you. Once you select plan, you’ll undergo a mini-medical exam. The life insurance company then conducts its underwriting process and delivers your final price. When completing the underwriting process, insurance companies look at a variety…

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