Fact # 1 - Life insurance is usually sold and not purchased or sought after by consumers.
Many consumers do not understand the complexity of life insurance, and usually besides a term life insurance policy offered by employers; many families do not own an insurance policy.
Fact # 2 - The purpose of life insurance is to indemnify.
Life insurance was designed to assist individuals and families who have suffered the loss of a loved one the ability to be restored back to their original financial positions, and to ensure there are enough funds to bury their loved ones with dignity. There are also tax advantages associated with life insurance.
Fact # 3 - Their are various types of life insurance policies.
Life insurance comes in many types. There are whole life, term life, variable life, and universal life insurance policies. Policies should be sold to consumers based on the consumers' needs.
Fact # 4 - Life insurance should not be purchased strictly for retirement or savings.
Consumers must always remember that the purpose of life insurance is to indemnify and should not be utilized for the sole purpose of saving or investing.
Fact # 5 - Life insurance serves as many forms of protection from the unexpected.
Many consumers can purchase life insurance for income replacement, mortgage protection, and estate planning.
Fact # 6 - Insurance should be purchased when consumers are healthy.
The older the client, the more expensive the coverage gets. Consumers should purchase life insurance at an early age. Insurance is less expensive for those who are young and healthy.
Fact # 7 - Be honest on your applications.
Life insurance companies do not pay large claims without investigating the information given by consumers. In fact, oftentimes, life insurance contracts are not approved unless all health and personal information has been verified by the insurer.
Fact # 8 - Consumers should contact independent agents and use online resources to shop rates.
Before agreeing to purchase an insurance policy. Consumers should contact insurance brokers, who have the ability to shop the rates of several insurers. Brokers are also trained and practiced professionals with industry experience who can give quality advice.
The fact is, there are too many families that do not have life insurance due to lack of resources or finances. In the event of a loss, families with no insurance suffer financially. In order to avoid unnecessary financial devastation contact your local independent life insurance agent today.
For more information about the importance of life insurance visit www.maifsinsurance.com. or www.lifehappens.org.
Comments