Not sure of your life insurance needs? Insurance can be bought to provide coverage for a number of reasons. Some insurance consumers are looking to provide income for loved ones in case they should die, while others want to cover ongoing financial commitments such as a mortgage or tuition. Others are looking to add to their financial assets and build equity over time.
Are you paying more than you need to for that peace of mind? It’s true that the best coverage can be a hit to the wallet over time. Fortunately, there is money to be saved by understanding your insurance options. Check out these methods for paying less on your coverage:
Life insurance is financial coverage that pays a specified amount of money to a chosen beneficiary upon the death of the main policy holder. The face value of the insurance policy is paid by the insurer in exchange for regular payments over the insurance term, referred to as premiums.