Daily Almanac for
Feb 15, 2012
Search: Infoplease Info search tips
Search: Biographies Bio search tips
| Share
 
Personal Finance > How to Buy Life Insurance

Choosing a Policy

Your agent's role is to find a policy that is right for you. Be prepared to discuss your financial situation, personal goals, family background, and health. You may have to take a physical exam. Tell the truth. Lying on your application could result in a denial of benefits for your survivors.

The agent should be able to explain various insurance policies. Get a step-by-step explanation. Many companies offer buyer's guides. Consider:

  • When does the policy take effect?
  • Can you afford the premiums?
  • Will the premiums increase?
  • What happens if you fail to pay a premium?
  • What amounts in the policy are guaranteed?
  • Will death benefits be affected by interest rates or other factors?
  • Does the policy pay dividends?
  • What provisions in the policy could change?
  • Will you be notified if there are changes?

Information Please® Database, © 2007 Pearson Education, Inc. All rights reserved.

Finding an AgentHow to Buy Life InsuranceConsider Other Provisions
    • Cite
    • Print
    • Bookmark

Premium Partner Content
HighBeam Research

Related content from HighBeam Research on: Choosing a Policy

Two very different efforts.(Choosing Environmental Policy : Comparing Instruments and Outcomes in the United States and Europe)(New Approaches on Energy and the Environment : Policy Advice for the President )(Book Review) (Regulation)

Choosing Environmental Policy: Comparing Instruments and Outcomes in the United States and Europe.(Book Review) (Environmental Law)

7 Factors When Choosing a Policy Admin System; Celent profiles 45 policy admin systems for P&C insurers, and details seven functionalities that indicate a good, modern system.(InsuranceNetworking.com - The most popular content on INN's Web site) (Insurance Networking News: Executive Strategies for Technology Management)

Balance shifts in build vs. buy: with Microsoft and Linux platforms having proved themselves, midsize property/casualty carriers in particular are more open than they were five or six years ago to choosing policy administration systems outside the mainframe environment.(TECHNOLOGY)(Interview) (Risk & Insurance)

Buying life insurance: choosing the right policy can protect and preserve your assets for your kids without costing their inheritance.(excerpted from 'Talking Dollars and Making Sense: A Wealth Building GuIde for African-Americans') (Black Enterprise)

Choosing a life insurance policy. (column) (Healthcare Financial Management)

Choosing Politics Over Policy.(Medicare solution hampered by Democrats' political motives)(Brief Article) (Newsweek)

Choosing not to choose in comparative policy research design: the case of the Research Network on Gender, Politics, and the State. (Policy Studies Journal)

Levi's creating new sourcing guidelines. (Levi Strauss & Co. altars its policy for choosing overseas manufacturing sources: takes human rights into account) (Daily News Record)

Too Good To Be True?(choosing a life insurance policy)(Brief Article) (The Practical Accountant)

Additional search results provided by HighBeam Research, LLC. © Copyright 2005. All rights reserved.
A free, reliable Q&A site for homework help. Answerplease.com

24 X 7

Private Tutor

Click Here for Details
24 x 7 Tutor Availability
Unlimited Online Tutoring
1-on-1 Tutoring
Explore Free Algebra Help , Grade 8 Math