Begin to analyze your current insurance coverage by completing the record sheets at the end of this newsletter. Use this information to determine if your coverage is adequate. Decide how much money you can spend on premiums. Then comparison shop for the best coverage at the lowest cost using the following suggestions. The two types of life insurance are cash value insurance and term insurance.
Term insurance provides pure protection and no savings feature.
Financial experts, who generally recommend that consumers not mix their savings with the purchase of insurance, feel that term insurance offers the most coverage for the lowest price. Buy life insurance only if you need it, generally just when you have someone dependent upon you. There is seldom another reason for you to purchase life insurance. Always comparison-shop for the least expensive coverage. If you recently left your job, don't assume that you are getting the lowest premmium by taking advantage of your company benefit conversion privilege.