As you shop for life insurance there is so much to consider. How much coverage do you need? Who are your beneficiaries? Sometimes the easiest way to narrow your options is to simply stick to the do’s and don’ts of buying life insurance. In today’s post, we will outline a few rules of thumb to help you make an informed decision.
Calculate Your Needs
Rather than picking an arbitrary amount, it’s important to calculate how much coverage you actually need. After all, it is counterproductive to purchase too little or too much coverage. Not sure where to begin? Visit IntelliQuote’s online life insurance calculator. Simply complete each field and submit your information for a calculation.
You wouldn’t make a major purchase without shopping around; the same should ring true when shopping for life insurance protection. The fastest and simplest way to compare your options is to request life insurance quotes online. At IntelliQuote, we provide a side-by-side comparison of the best policies available based on your needs. By taking the time to shop around, you can rest assured you’re getting a good deal.
Forget to Insure Your Spouse
Many couples make the mistake of only insuring the bread winner. Even if your spouse stays at home, it’s important to consider the financial strain you would face if he or she were no longer able to fulfill their household duties. As you compare life insurance quotes online, be sure to do so for both you and your spouse
Depend on Employer-Provided Coverage
In most cases, employer provided life insurance is designed to provide basic assistance in the event you become disabled or pass away. When you calculate your life insurance needs, you’re likely to discover that your employer-provided coverage simply isn’t enough to offset the financial strain your family would face if you could no longer provide financially. It’s also important to keep in mind that your coverage will not follow you if you change companies or lose your job. This is why it’s important to lock in coverage on your own.
By keeping these do’s and don’ts in mind, you can rest assured you’ll avoid the common pitfalls of buying life insurance. If you’re ready to compare life insurance quotes online, we encourage you to request a quote right here at IntelliQuote. We will be happy to help you compare quotes online and guide you through the application process. Request your quote now.
Would you like more tips and information designed to help select the right policy for your family’s needs? Follow our blog! Here we address the topics and industry developments that directly impact your coverage. While there, be sure and read these recent related posts: