Take advantage of our user friendly online advice
to complete a profile and then either shop rates yourself from the online rate
service or request a local agent to prepare quotes for you.
While waiting for your universal life insurance
cost quotes to be prepared, you can check the ratings on several organization.
You want a organization that is strong financially, has been in business a long
time and that pays claims in a timely manner.
If you decide to meet with an service rep
personally, be prepared to ask some important questions:
To what extent would that agent represent you?
Does the organization have insurance services that will
last to age one hundred or even to 120.
Does the organization have radically higher rates for
smokers
Does the organization require a visit from a paramedic?
Some companiess only require a paramedical exam and doctor's report on amounts
of 100,000 or more.
Does the organization have an "easy issue" insurance
service that requires less medical underwriting and that pays without a two year
waiting period?
What payment process does the firm use? Most require you
to make the first payment and then authorize automatic bank draft for future
payments.
Strongly consider using an agent. term life
insurance does not have standardized language from one organization to the
other. If you try to do it alone, you could easily end up with something like
"modified life insurance," a type of variable life insurance that has cash value
and insures you to age 100, but also has premiums that increase at a
predetermined frequency. If an agent misinforms you regarding a insurance
policy, the firm is responsible. If you make that decision on your own, you bear
the responsibility even if you don't understand the terms.
Once you have decided on a variable life insurance
insurance policy and answered the questions for the application, all you have to
do is wait. You still aren't fully committed. By law, you have a thirty day free
look from the time your whole life insurance policy is delivered to you. If you
see something you didn't expect or didn't want, you can return it and have your
first payment refunded.
Usually, a little homework, an open mind and an
understanding of the process can virtually guarantee a variable life insurance
insurance plan that will satisfy you and your family for many years to come.