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Tips for Buying Your Next Life Insurance Policy

Many people are unsure about the life insurance purchasing process. Here are seven tips on how to buy life insurance so you can get the right coverage that suits your needs.

7 Quick Tips for How to Buy Life Insurance

According to the 2016 Insurance Barometer Study, one in three homes would have immediate trouble paying living expenses if they were to lose their primary wage earner; while one in four American's say they need more life insurance than they currently have.1

If you are getting ready to shop for life insurance and are not sure where to begin, here are seven quick tips that can help get you started:

  1. Get multiple quotes from different life insurance companies.
  2. Use an online life insurance needs calculator to crunch the numbers so that you know how much coverage to buy before shopping for quotes.
  3. Be wary of life insurance companies with agents or representatives who don't take the time to explain your policy options or to answer your questions.
  4. While price is a consideration, have the mindset of thinking about your life insurance as a fixed monthly expense - much like your mortgage payment. For many people, the decision to buy life insurance shouldn't be considered a luxury, but a need.
  5. Ask about life insurance policy riders that may help you affordably enhance your coverage.
  6. Do your homework and buy from a reputable life insurance company.
  7. Consider life insurance for the whole family - including children. Expenses that can follow an unexpected death, serious illness or accident can add even more stress to an already grieving family.

For more helpful information on how to buy life insurance, as well as selecting the right life insurance policy for you and your family, visit the Protective Learning Center.

1. 2016 Insurance Barometer Study LIMRA/Life Happens

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All Learning Center articles are general summaries that can be used when considering your financial future at various life stages. The information presented is for educational purposes and is meant to supplement other information specific to your situation. It is not intended as investment advice and does not necessarily represent the opinion of Protective Life or its subsidiaries.

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