Out of all of the financial planning you can do, life insurance might be the most important part of the planning process. First, leaving family behind because of a premature death with no financial means is inexcusable. Second, life insurance is cheap. You can easily get one catered to fit your needs.
The problem - who do you trust? No one wants to get into a high pressured sales situation. For these reasons, the most important part of planning gets put on the back burner for another day. It is a real shame because death does not send out an invitation ahead of time.
Online Life Insurance
I was driving in my car and heard an ad for a company that claims to provide ethical life insurance. I thought I would shop their rates against my database of rates. I went through an easy online process to get some sample rates. If I wanted to get something specific, I had to talk to someone. Their cost for $153,000 for 15 years for someone my age was $59 a month. It seemed cheap enough. I ran it on my system and the best price was $35 a month. With a rating for health conditions it was $44 a month which was still below their best rate. So, that online method wasn't a good deal. Don't fall for the notion that online is cheaper and better. They have a lot of expenses to pay for with their set-up.
This is what it comes down to. Unless you are the picture of perfect health, life insurance is far more than about just quoting insurance. It is about finding the balance between the perfect match for your particular set of conditions. These life insurance companies look at health conditions differently. It is about giving the applicant the best chance at setting expectations before the process and helping them achieve those expectations. No one wants to go through a process where the odds are unknowingly stacked against them. How do I find someone?
I would ask around. I would also interview either the adviser or agent over the phone. You are trying to determine one important aspect. Can I trust this person to have my best interest in mind? Finally, I would make sure that I am talking to someone who can work with most of the companies on the market. This is important because the price range for the same quote for life insurance can vary from company to company.
Bottom Line: The important thing is to make sure your family is covered and term (the most inexpensive insurance you can buy) is the way to go.