So you’d like to find life insurance coverage but you don’t want to spend a small fortune? This is actually the goal of many people in Washington State. Speaking with a life insurance agent can be confusing and many times words are tossed around that make little sense to the consumer. Knowing the basics of what life insurance is and isn’t can help an individual make a better informed choice of what they need. One important note is that in Washington State life insurance cannot be sold under the guise of a pension plan.
Beyond that, there are many things to keep in mind when looking for a low cost life insurance solution:
•Ask about coverage for your entire family. Although many parents aren’t keen on the idea of purchasing life insurance for their children, a whole family plan can actually be more affordable than an individual plan.
•Your hobbies can directly affect your life insurance premiums. Inquire with several different companies about whether your high-risk hobby will affect your rates.
•When gathering quotes ask about the history of each company. If the person you are dealing with is hesitant about supplying that information, research it on your own. Although a company may give you a very low quoted rate, if they have no reputation to stand on, it may not be the best choice.
Life insurance is a very big investment for most individuals. Not only does it amount to a payment each month or year but it’s also an investment in trust. Even though you obviously want the best rate you can possibly find, don’t cut corners by going with a company with no history to stand on. Invest in a policy that will pay-out when the time comes. The extra few dollars you’ll spend will be well worth it to your loved ones once you are gone.
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