Asked by Crystal  |  Submitted February 25, 2016

What is the easiest way to buy life insurance? I see all these questions and it makes me think it is complicated.

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  Answers  |  2

February 25, 2016

Hello Crystal,

First, the "complication" part is fairly common (you are not alone!). Life insurance can seem complicated when you explore all of the types of life insurance, underwriting, pricing, rate classes, etc. One of the best ways to simplify the topic is to realize that you are only going to purchase one or two policies in your lifetime - so avoid staring at lots of stuff that you will never want or need and focus on those that you will want or need. Think of the list of insurance stuff as a menu - and you want to deselect what you don't want or need in order to get to the one or two things that you do want or need. See how simple that was?

See my article at Confused About Life Insurance Products? for more advice.

More: if you are a term buyer with temporary needs, match the length of the term to the length of the need. Have a mortgage balance that will be around for 30 years? Look at 30 year term. For permanent needs, look at Universal Life but look at a smaller policy since your needs when you are 85 will not likely be large. How much death benefit do you need n your term plan? How much do you spend every month to get through life right now? If it is, say, 5K, then those you love will need about 60K per year to live without your contribution. The "bucket of money" you leave will last for 5 years if you buy 300K of life insurance. So, 30 year term for 300K for your temporary need, and 30K for your permanent need (burial or cremation, with flowers and all the trimmings). Done this way, you will have programmed your coverage to get through a 30 year mortgage and into the great beyond without leaving your family without adequate financial support when you are gone..

Ok. Now that you have some of the needs analysis done, find pricing. Should be simple since you've narrowed the search. Get pricing for term at LifeInsuranceToday.US, our quoting site, or call for custom designed UL. Complete an application and wait for an approval. Yaay! You're approved!! Your policy arrives, Pay for it and stick it in a drawer and that's it. That wasn't so bad, was it?


$commenter.renderDisplayableName() | 09.20.20 @ 05:13


March 03, 2016

There are a variety of insurance plans that ask a range of questions from none to a ton. The way to think about it is that the more questions the insurance company asks you, the less expensive your coverage could be. You can purchase "simpler" coverage, but it will cost more than the plans that ask a lot of questions.

$commenter.renderDisplayableName() | 09.20.20 @ 05:13