Life insuranceShopping for term life insurance can seem overwhelming.  It is quite difficult to think about our own mortality, and what you are one day going to leave behind.  Purchasing term life insurance can leave you with a sense of security.  As you’re shopping for coverage, ask yourself the following questions:

  • What are my goals?

Before you can decide what policy is best for you, you have to determine what your goal is.  Maybe you want to provide financial support for your family when you’re no longer able to or maybe you just want enough coverage to settle outstanding debt.  Whichever the case, consider your goals carefully.

  • How much coverage do I need?

Believe it or not, there is a science to determining how much you need and an insurance calculator is a great tool to get a general idea on how much coverage you may need.  It is still important to do more analysis then just an online insurance calculator before selecting a policy.

  • Can I make changes later?

Many policies offer the option to convert term life insurance to a permanent policy within a certain time period.  This option is great for people who are unable to afford permanent coverage today, but would like to have that option later on.