Life insurance unbiased tricks: The cheaper really is the better. This isn’t car insurance. It’s just a straightforward policy that will pay out when you die. There’s little to dispute over whether someone is dead or not, so you can just go with the cheapest.

Don’t Volunteer Unnecessary Information. If the life insurance company doesn’t ask for particular information about your health, family history, or lifestyle choices then don’t tell them about it and you won’t be penalized. Don’t volunteer any information which they don’t ask about! For example, almost every life insurance company will penalize you if either of your parents ever had cancer. There is at least one carrier that only asks if any members of your immediate family ever had heart disease on their application. In other words, if your father died of cancer, you can simply answer “no” and you won’t be hiding anything! Don’t add a note next to it saying “but my father died of cancer.”

What should millennials know about the advantages of life insurance? While they may not be a able to envision it now, many who are in their 20s and early 30s now will go on to: Have children that they would like to financially protect. Start a business with partners. They may want to protect their partners and themselves in the event of the death or disability of one of the team members. Go on to be wealthy and want insurance for estate planning purposes. Have family members that have special needs and will need ongoing care for their entire lives. See extra details on Independent & Unbiased Life Insurance Agency Pennsylvania.

Some life insurance is better than no life insurance. A good starting place is coverage that equals any outstanding debt (including mortgage, car payments and student loans) + 5 years of annual salary. Use the average American salary, $40,000, to represent your income in your estimate if you’re a stay-at-home parent or currently in-between jobs. Life insurance is less expensive than you think. Many people think life insurance is much more expensive than it actually is. In fact, many people can get term coverage from a reputable company for a surprisingly low price. A healthy 35 year old can pay as little as $30 a month for $500K of coverage. Life insurance does get more expensive as you get older. It makes sense to buy as much as you may need while you’re young and healthy.

How Much Insurance Do You Need? Your life insurance coverage amount will be based on your liabilities, responsibilities, and assets. We can guide you to conduct a thorough “Needs Analysis” to determine your specific amount and learn where your protection gap is. What Policy Term to Choose? The duration of your life insurance coverage should be determined by your age, the length of your liabilities; i.e. mortgage or the age of your children as well as other factors. We can guide you to find the optimal duration. Discover additional info at www.terms4less.com.