Tips for Choosing Life Insurance Protection for the Unexpected

PRESS RELEASE: November 14, 2012 - In the event of an accident or sudden illness that ends in tragedy, the people left behind have a lot to deal with. Financial concerns don’t have to be among them with the right life insurance in place to protect them. These tips from will help anyone choose the right coverage to protect loved ones from the unexpected.

Life insurance isn’t the most pleasant thing to think about, but it in the event of a sudden death it can make all the difference for those left behind. Many people put off shopping for life insurance either because they think they don’t need it or because they don’t know where to begin. Tammy Ezer of reminds those on the fence that life insurance is important. "Nearly everyone leaves behind some sort of financial responsibility and most will have final expenses. Life insurance takes that burden off your loved ones."

Determine How Much is Needed

Using calculators online when obtaining life insurance quotes can make it quick and easy to determine how much life insurance is enough. While any amount of coverage is better than none at all, it’s always better to get as much coverage as possible right from the start. The older an applicant is the more expensive policies can become, so buying more coverage at a younger age makes sense in the long run.

Remember that life insurance needs change over time, and events such as marriage and the birth of children are a good time to review what is in place and what more might be needed. An insurance professional can offer advice and guidance on how to choose the right policy or combination of policies to ensure those left behind will be protected.

Choose a Policy Type

Life insurance comes in many forms, but the two most common types are term and permanent, which is usually either whole or universal life. A term policy lasts for a pre-determined amount of time, anywhere from 5 to 30 years, usually in multiples of 5. Term insurance is more affordable because there is a lower risk that the insured person will pass away during the term. Permanent life lasts for the insured person’s entire life and is generally more expensive because it will be paid out at some point.

Term insurance is an excellent choice for those who need a high amount of coverage for a shorter period of time. Many people choose it to cover them while their children are at home, or for the duration of a mortgage. Combining a large term policy with a smaller permanent policy is an excellent way to get maximum coverage within a smaller budget.

Keep Up on Premiums

There is nothing worse than having the moment come when an insurance policy is needed only to find it is out of force. The best thing anyone can do once they have taken out a life insurance policy is to keep up on the premiums and keep it in force. Once a life insurance policy has gone expired, it may require a new medical exam and a higher premium to get the coverage back.

While everyone hopes that the need for a life insurance policy to pay benefits is a long way off, having it ready in case it is needed provides peace of mind for everyone.