Life Insurance Guru is your guide to the basics of life insurance. The main purpose of this site is provide answers to some of the most often asked questions about life insurance. Do I need it in the first place? How much coverage do I need? What kinds of coverage can I get? Etc.
It turns out that life insurance is one of the most profitable insurance industries out there. For that reason, you can expect to get solicitied by salesman on a number of occassions throughout your life. Even your car insurance agent will try to get a piece of the pie. You should never bite at the first offer you get. Always shop around for life insurance both online and offline to find the best deal you can. When looking for the cheapest prices and negotiating offers, keep in mind that you will pay more money if you have any dangerious health behaviors like smoking, perform any dangerious jobs or even if you are old. Unfortunately, the older you get, the more expensive coverage becomes. On the other hand, if you are young and healthy, your life insurance should be very low.
It turns out that not everyone needs life insurance. You never want to get life insurance for your own sake. Rather, you always have someone else in mind such as a spouse or child. The main point of life insurance is to protect your loved ones from the financial consequences of an unexpected death. If you have no dependents, then you don't need coverage. On the other hand, if your spouse and children depend on your monthly income to make essential payments (e.g. mortgage, etc.), you should definitely get coverage
So why is life insurance such a profitable industry? Well, there are two main reasons. First, most people buy more life insurance then they need, and second most people never end up using the life insurance they buy. Keep these two facts in mind as you consider your options and negotiate your price. Remember: the agent who is trying to sell you life insurance protection knows that he has a lot of room for negotiation because almost all money paid into life insurance ends up being company profit.
In the end, getting life insurance is advisable in some situations and at the right price. You should make sure that you are aware of those situations when coverage is advisable, and consider whether your current place in life is a good fit. Then, you should make the various companies compete for your very desirable business.
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