As I approached the age of 30, I knew that I needed to purchase life insurance. My wife continued to remind me that once I passed that age, my premiums would increase. However, I continued to put it off. After all, who enjoys shopping for insurance?
Fortunately, a couple months prior to my birthday, we finally decided to sit down and buy appropriate coverage. While we made the purchase with several weeks to spare, I still felt like I had put us in an awkward position. As if buying life insurance is not challenging enough, being hurried can only add to the stress.
During this time, I realized that there were three keys that allowed us to not only purchase life insurance quickly, but also to make a final decision that we both agreed was correct. Therefore, if you find yourself needing to buy a policy with little time to spare, follow these three tips to get started:
1. Do Plenty of Research
You are not going to learn all you need to know until you speak with agents and obtain quotes – but you may be surprised at just how much advice you can gather online. If both you and your spouse take part in the learning process, you will both be able to come up with a wealth of valuable information. This can only help when buying a policy, especially if you are up against a tight deadline and need to make an informed decision sooner rather than later.
2. Use the Internet
It can be extremely time-consuming to call life insurance agents on the phone. Not only do you have to find the time to call several agents from several companies, but you never know how long the conversation is going to last.
With the help of a few solid online services, we were able to obtain quotes from more than five companies within a matter of minutes. This gave us all the information necessary to compare quotes and make an informed decision. Imagine how long it would have taken to call five agents on the phone. I would have had to give each one the same information, and then waited for them to get back to me with a quote.
3. Be Patient
While it may seem counter-intuitive to be patient when you are in a hurry, it is absolutely necessary. If you make a decision the same day you request quotes, you may look back and wonder why you made such a hasty choice. However, if you patiently compare quotes and rates, you can gain a better understanding of what exactly you are being offered. Remember: There is a big difference between being patient and putting off the entire process.
It is best to give yourself plenty of time to purchase the proper life insurance policy. However, if you find yourself rushed, you can rely on the three tips above to get started. With this advice and the right understanding of the industry, you can quickly settle on a policy that offers the protection you need at a price you can afford.
What other tips can you offer for purchasing life insurance?