Life insurance is something you know you need; it provides vital protection for your family, but you probably don’t want to pay for it. It can be hard to get your head around the idea that you’re paying for something you will never see and understandable that you might ask one of the following questions. The answers aren’t the ones you’re looking for.
What if I don’t die?
This is the most common question insurance buyers ask when they consider term life insurance. Term insurance lasts for a set term. When it runs out, you get nothing if you’re not dead. Most people would be happy to still be alive, but others see the premiums that have disappeared.
This can lead to people waiting until later in life to get a term policy. That can be a risky gamble, because it means higher premiums and no guarantee of getting cover if your health deteriorates. The key is to make sure it covers periods of financial obligation, like a mortgage or children’s’ education. That way, while it’s in place it covers your expenses and once they end the policy loses its importance. It’s also worth considering a whole of life policy if this is a real issue for you.
What Should I Say to Get a Cheap Premium?
This is the classic thought when presented with an application form. The important thing with life insurance questions is to tell the truth. Massaging the truth may help save on premiums, but it could see your family suffering the consequences if your insurance provider refuses to pay on the grounds that you lied on the application form.
You buy life insurance to get peace of mind; you only get true peace of mind if you know your family’s future is secure. When you ask life insurance questions, you need to think about your family’s future and your financial obligations first. After all, that’s what these policies are for.