How should I compare life insurance providers?

Comparing life insurance providers

Oftentimes, the best way to find a life insurance provider is to work with someone that a friend or family member uses. If this is not an option, comparing companies and policies online can be extremely useful.

No matter how an insurance professional or insurance company is recommended, it is important to compare multiple life insurance providers and policies. This means asking a lot of questions about the policy, the types of coverage available, the insurance professional, and what type of support is offered.

Here are some basic questions to ask about life insurance:

• Is a term policy best and how long should the term be?
• Is a permanent policy a better choice?
• If the policy is for investment, rather than for dependents, is it sufficient to meet the insured’s needs?
• What type of additional coverage is necessary?
• Is a group or individual policy the best option?
• What are the premiums and will they ever increase?
• Is the life insurance agent a captive or independent agent?
• Does the insurance professional have experience selling life insurance?
• Is the insurance professional licensed?
• What type of customer service does the insurance professional offer?