Some savings banks and commercial banks also sell term life insurance, usually through only one company. Don't buy a policy without getting quotes from several agents or companies-you could end up paying thousands of dollars more than you need to. Ask your attorney, accountant or financial adviser for recommendations. Compare not only premiums, but cash-value, death benefits and fees. To find this number, look in the state government section in the front of your white pages phone book, or call directory assistance.
Life insurance is a long-term commitment.
It's important that your insurer is financially stable. Ask about the highest ratings each service gives. Stick to companies that have had high ratings for five years or more. Applicants for life insurance usually have to have a physical check-up by a doctor chosen by the insurance company. People who represent the greatest risk to the company, because of age, illness or dangerous work, for example, pay the most for insurance-if they are able to get a policy at all.