Jul 18
Seven Common Life Insurance Pitfalls
You wouldn’t buy a house without first checking the schools and neighborhood, or a car without taking it for a test drive. So why is it that so many people buy life insurance policies that don’t offer their families adequate protection?
Life insurance is not the kind of thing you should buy without doing a little research first. You need to make sure the policy you decide to go with is really right for you.
A good place to start is by getting versed on the most common mistakes people make when shopping for life insurance. They are:
1) Letting premiums define your decision.
The amount you’ll have to pay for a premium shouldn’t be your only consideration. It’s also important to factor in the financial strength/integrity of the insurance companies quoted, as well as important product features such as renewability privileges, conversion rights, available riders and how long the rates are guaranteed.
More after the jump…
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