Understand What You Need
Always remember that you alone can understand your financial situation so if your agent suddenly goes barging in with its know-it-all look and attitude, then you might want to put your foot down because after all, you live and earn all your finances, not him. Reassess your current financial needs and status. Never forget to consider your future needs as well such as the children’s education, home improvement, etc.
Deal with An Independent Agent
Never, under any circumstances, deal with someone that is also handing your mortgage plans and the like. More often than not, these brokers will ridiculously inflate the premium rates, with the promise of letting you believe that you are actually getting a great price for it. Go out there and compare life insurance quotes so you can truly get value for your money.
Realize that Insurance is Not an Investment
The most common mistake of many policyholders is that they think that life insurance is a great investment. In reality, life insurance is for the protection of your family in the future. You can make investment out of it but it is just an added bonus so make sure you separate the two so you won’t confuse yourself.
Don’t Hesitate to Ask Difficult Questions
When meeting with a licensed agent, always clarify everything. It is only wise and smart for you to know what you are getting inside and out. Ask the toughies such as can the term be canceled? How long is the maturity date? What if you suddenly stopped paying for it? These are just some of the examples that you might want to know the answer to. Again, if there is something remotely unclear, regardless how mundane or stupid you may sound, make sure you ask it for your peace of mind.