AndrewRoche
Expert
- 50
Keep it simple.
1-Decide how much you can comfortably afford per month. Emphasize comfortably!
Everything depends on that number. It doesn't matter if you're healthy or unhealthy. The amount and type of insurance you purchase should be based on what you can afford.
2-Decide how long you think you want coverage.10, 15, 20 or 30 years or until age 100.
Remember, you're buying a death benefit. If you need permanent coverage go with a product that guarantees the premium and death benefit until age 100 or beyond but also gives you the ability to cancel the policy and get all your premiums back. Maybe tough to get this if you're table rated but it would be nice to have that choice in the twentieth or twenty-fifth year of the policy.
Once you decide on your budget and how long you need coverage, get examined to find out if your insurable and then compare the products of A Rated companies.
Don't over think it! It's a death benefit.
You're getting it because you want to know your loved ones will be okay. It's not an investment or a savings vehicle and no matter what people say, you don't need an insurance calculator to determine how much you should buy. You only need to decide how much you can comfortably afford.
In other words, you want to get it and forget it!
Good Luck!
1-Decide how much you can comfortably afford per month. Emphasize comfortably!
Everything depends on that number. It doesn't matter if you're healthy or unhealthy. The amount and type of insurance you purchase should be based on what you can afford.
2-Decide how long you think you want coverage.10, 15, 20 or 30 years or until age 100.
Remember, you're buying a death benefit. If you need permanent coverage go with a product that guarantees the premium and death benefit until age 100 or beyond but also gives you the ability to cancel the policy and get all your premiums back. Maybe tough to get this if you're table rated but it would be nice to have that choice in the twentieth or twenty-fifth year of the policy.
Once you decide on your budget and how long you need coverage, get examined to find out if your insurable and then compare the products of A Rated companies.
Don't over think it! It's a death benefit.
You're getting it because you want to know your loved ones will be okay. It's not an investment or a savings vehicle and no matter what people say, you don't need an insurance calculator to determine how much you should buy. You only need to decide how much you can comfortably afford.
In other words, you want to get it and forget it!
Good Luck!