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How To Take The Guesswork Out Of Buying Term Life Insurance Protecting your family is the single most important thing any individual can plan for during his or her life. Buying life insurance can be confusing, and a frustrating process. As an insurance agent, I am well aware of the details a customer must know to make the decision easier. In this article, I will offer practical advice on how to simply purchase life insurance. Look for a company that has at least an AA-rating or above. Independent agencies such as Moody's and Standard & Poors rate insurance companies on financial strength., there's little or no difference in two companies with the same exact financial rating. You should feel comfortable with any company that has an AA or higher rating. When it comes to pricing, don't be fooled into thinking that insurance agents determine prices and that you can negotiate. Insurance companies set prices and they depend on age, gender, health, smoking status, family history, activities such as scuba diving, auto racing, foreign travel, etc. Insurance agents are not allowed to offer customers any pricing discounts or incentives. Insurance companies offer different versions of the same product. Often you will see what appears to be the same product, but at a lower price. Normally, the reason for this is that the lower priced policy offers a weaker guarantee where the policy is not guaranteed for the full period. For example, a 10 year policy that is only guaranteed for the first 5 years. When choosing a policy there are important details to » Discuss it » Continue Reading »
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