To find the right life insurance plan, consider whether a term or permanent insurance plan works best for you. Remember, if your main goal is to save money, you can choose a term life plan with a set amount of coverage years.
Once you have identified that type of plan you would like, you can start to compare plans online, or through an insurance broker. Many people find that it is much easier to buy a life insurance policy through a broker, as they are trained to understand the ins and outs of every type of policy.
You do not need to worry about paying an insurance broker upfront, because they are generally paid through commissions once they sell an insurance plan.
If you decide to work with a broker, be wary of brokers who are employed by a single company.
By selecting a broker who works independently, you can be confident that they are showing you the best options from different insurance carriers, not just the carrier who they work for.
If you are older and have not yet purchased a life insurance policy, you can still find an affordable insurance policy, especially if you are healthy. Insurance companies oftentimes require a health evaluation to determine what kind of rate they will offer you.
Your monthly premium will be less if you maintain good health, as there is less risk from the perspective of the insurer.
Certain types of life insurance policies do not require a health examination, but these plans will always be more expensive.