Life Insurance Comparison – Getting Value For Your Money

2007-03-08 10:33:40

( Health )



Insurance companies have introduced more insurance products with increasingly more complex benefits and features. For this reason, life insurance comparison shopping is necessary to get the most value from your money.

A company’s sales presentation is one source of information on the best life insurance that matches your needs. The presentation should give details about the policy type and additional benefits. The policy illustration will probably cite a range of costs for various policy types. This will give you good reference data points as you search for the best insurance rates.

There must also be information about what you will pay in premiums, the buildup of cash value, the cash surrender value, and possible variability in death benefits for each policy type. Many state insurance commissions have regulations intended to help you get accurate and realistic information on best life insurance values when you do your life insurance comparison shopping. You should find out if the insurance company complies with such standards.

You should try to get as many policy illustrations as you can. The more data points you have, the easier you can find the best insurance. Normally, if you now have many policies in your life insurance comparison exercise, you will find that the one with the higher cash surrender value is probably the best insurance for you.

Life insurance comparison shopping should also consider the financial stability of the insurance company, its management expertise and the quality of its corporate governance. The best life insurance firms are usually rated by independent agencies. Look for companies that have strong ratings.

The best life insurance companies also have strong after-sales customer service. You would want to make sure that even after you have bought a policy, you will be able to talk with their professional staff about any issues regarding your insurance. They can help you assess your current and future insurance needs.


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