When purchasing Life Insurance, take into account your goals, assets and liabilities. Compare the different types of insurance before Meeting with an Agent.
Once you have filed your application, the insurance company schedules a phone interview in which they ask the proposed insured questions about personal health and other matters. Then they schedule a nurse’s visit for a physical exam. The insured’s age and the amount of coverage being requested will determine how invasive the testing is.
The value of money changes every day. Downward. A thousand dollars today isn’t worth half of that in ten years. So don’t get too excited about leaving hundreds of thousands of dollars to your beneficiaries. If you live long enough that won’t be worth what you think by the time the time comes.
Once the company has collected the medical records and reviewed current health matters, it will come back with a premium proposal.
Next: Meeting with an Agent