Three in 10 American households are uninsured and half say they need more life insurance

Even though most people realize that life insurance is an important way to provide for their families, buying life insurance can seem daunting.

Choosing the right life insurance is certainly a very important decision. You will want to pick the right type of policy as well as enough coverage to protect your family. How can you know if you’re making the right choice for you and your family? Here are a few suggestions that you can consider that may be able to help you in picking the best plan.

A good place to start when you’re trying to decide between life insurance companies would be to ask friends and family for their personal recommendations. Keep in mind that you can always meet with an insurance agent to talk through your options.


You can ask for the outlines of several life insurance  plans and then compare the features of the various life insurance options that you’re considering.

Then you can decide if you need permanent or term life insurance. There is a difference between the two. Term policies will pay only if you die during a specific period of time. However, Permanent policies will provide money to your family no matter when you die.

Keep in mind that insurance gets very expensive as you leave your 50s.

So you may pay more to cover yourself until 65. Coverage past age 70 or so may be unattainable. Remember life insurance is not a substitute for a retirement plan. You want to plan so that not only will you have enough to live on when you retire, but also so that you won’t have to keep paying insurance premiums.

Of course once you select your plan you will want to store the policy with your other important financial documents. You might want to note that if you are using a safe deposit box, it might not be the best choice. This could cause a delay in your families gaining access to the coverage. This is because, upon death, boxes are sometimes sealed temporarily by the bank. You will also want to review and update your policy from time to time. A good time to do this would be after major life events, such as marriages or the birth of children.


Remember, the sole purpose of life insurance is to replace your income in case you die, so that your dependents can maintain their current lifestyle.

There may not be a simple answer to exactly how much coverage is enough. However, there are several factors to consider that may help in your decision. For instance, some financial planners advise that you need enough insurance to replace about five to seven years of your salary.  If you have significant debt or young children, you might want to consider bumping up your coverage so you have enough to replace as much as 10 years of your salary. These, and many other factors, influence the decision on how much coverage you need.

If you go for a term life insurance policy you will have to figure out how long you need the policy. There are a few ways that will help you in determining how long you’ll need life insurance coverage. The key to buying a policy with the right term is figuring out how long you need to be insured. You can start by estimating when your children will no longer be in need of your financial support. You can also consider that you will want to cover your spouse for your lost income until what would be your normal retirement age 65. Then you can go from there. Get the right insurance protection.


We know if you drive a car, you must have auto insurance

How to buy auto insurance in Florida

Learning how to buy auto insurance is important. While most people would like auto insurance to be optional, the fact is that auto insurance is required by law in Florida. The Internet has made it so easy to compare rates and coverage between insurance companies. This in turn, has raised the level of competition between insurance companies because they are under more pressure to offer competitive deals. So why not use this to your advantage to help you save time, save money, and find the best auto insurance coverage?

There are many things that can influence your rates. Insurance prices are all based on statistics, so the price each of us pays will vary. There are many variables that will factor into the price you will pay for your particular coverage, such as the driver’s age, years of driving experience, and the make and model of the car.  Of course your personal driving record will be consider as well.

You will also need to consider what coverage you need. While your state sets forth the minimum liability coverage you must maintain, these are just the legal minimums. These might not give you the exact coverage you want. It will be up to you to decide what you want to buy beyond these minimums to insure that you have adequate coverage. You can always supplement your policy with specific protections such as comprehensive or collision coverage. Have your insurance agent explain these to you.

It would be good to gather a few comparable quotes so that you know which company offers the lowest price for the policy you want. Then you can check out the companies as well to find out whether they are reliable and will suit your needs. Of course before you sign, be sure to carefully review your new policy to make sure it includes all the coverage you want. These are just a few of the simple steps. Insurance shopping is easy when you learn how to buy insurance.

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