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How to Compare Life Insurance to Get the Most for Yourself and Family

How to Compare Life Insurance to Get the Most for Yourself and Family​

Author: Aman Ahuja

Posted on: October 13, 2020
affordable-life-insurance

How to Compare Life Insurance to Get the Most for Yourself and your Family

Life insurance is vital to planning for your future.

It’s important to have the money you need to pay for expenses and care for your family in the event you are no longer there. None of us live forever. Although we all want to live to be 95, most don’t. That means a family with no life insurance could be at risk. If your income was suddenly taken away, would your family be able to pay off your home, afford a good education, and live comfortably? 

A high quality life insurance policy can help alleviate all of these concerns. Finding the right plan with all the benefits you want can be quite affordable. Run a quote yourself.

Here are proven tips for choosing the right life insurance policy that gives you and your family the most value.

Buy life insurance based on need, not on peer pressure. 

It’s always nice to get advice from family and friends, but you will get a better policy by talking with a trusted insurance professional. We know all the options that are available, have read all the fine print, and can ask the right questions to make sure your insurance fully covers your current and future financial needs.

Don’t choose a company based on the lowest initial price. 

Some will hide poorer benefits and service in the fine print while offering an impressive low price. Others start with a low price, then raise it as you list the options you need. Your better value may be to pay a bit more to get everything you want from a policy and company that will be ready to help when the time comes.

Your insurance company must be financially strong. 

Many name brand insurance companies have been around for decades or longer. Their financial viability can be checked with a major ratings company like Standard & Poor’s or Moody’s. Other insurance companies are younger but well funded. Still others may be showing signs of financial weakness and might not be around when you eventually need them.

Consider the Claim Settlement Ratio of an insurance company. 

This tells you the number of claims they paid in the event of death. Why look at the settlement ratio?

Companies that settle 98-99 claims out of 100 are considered excellent. A company that often rejects claims could be trouble for you or your family in the future. The last thing you want is for your dependents to request a claim and be denied. Be sure to disclose any health problems, income, lifestyle and other factors. Not disclosing correct or withholding information are the most common reasons a company denies a life insurance claim.

At einsured.ca, we make it easy to get the best price on your life insurance. With more than 8 years industry experience has enabled us to ask the right questions. This allows us to make certain you get the precise benefits you need while paying the lowest price. 

Get more for your money while sleeping well knowing your family will always be taken care of.

Please contact us for your no-obligation discussion about life insurance at www.einsured.ca.

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