Life insurance can be affordable
November 8, 2010, 11:47 am
Having life insurance is important for families, in particular those where one who provides financial support has a dangerous occupation. The Insurance Information Institute has tips for consumers who are ready to purchase coverage, but aren't sure where to begin.
The III says premiums can vary dramatically so it's important for consumers to consider all of a plan's features in addition to the reputation of the insurer. Furthermore, they suggest looking for discounts when purchasing a plan. The III says people can actually end up saving money in the long run by purchasing a higher level of coverage.
Regardless of the type of policy a person plans to purchase, it's important to conduct research. Failure to do so can result in a plan that doesn't offer the features a family needs.
CNN Money reminds people that life insurance is not the place where they should attempt to save money by purchasing less coverage than needed. There are other ways consumers can lower rates and get discounts. For example, they urge people to purchase a policy while healthy as those who are afflicted with medical conditions tend to be charged higher rates.
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