Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Life Insurance Resources and other Life Insurance topics.
Before you choose a life insurance policy, be sure you have all the life insurance information you need to make a sound decision. Life insurance education is your key to making a smart decision. You will, no doubt, have many questions about your life insurance plan. Use the following tips to get life insurance answers that you can trust.
Tip 1. Get Life Insurance Answers from Your Life Insurance Agent: Life insurance agents don't just deal with policies occasionally like the general population. Their in-depth knowledge of carriers, plans and options make them a good resource for life insurance education.
Tip 2. Understand Life Insurance Definitions to Make the Best Plan Comparisons:
• Life insurance shoppers should have at least a general understanding of the policies they are comparing. For example, knowing the difference between term and whole life insurance may mean the difference between providing for loved ones at death or not.
• Similarly, knowing that the option of survivorship life insurance exists and understanding how it can protect net worth is important for maximizing coverage and minimizing the estate tax burden.
Tip 3. Life Insurance Information is Available from a Variety of Sources: Even for those life insurance shoppers that have limited access to the Internet or trouble reading from a screen, information is widely available. Learn about plans you are considering from:
• Your agent
• Plan Brochures
• Life Insurance Videos
• Current Plan holders
|Jennifer Mathes, Ph.D.|