Reassessing life insurance needs
Jul 03, 2012
A team of life insurance providers in New York encouraged U.S. consumers to research or reassess their life insurance policies in spring as part of their cleaning ritual. The providers recommend consumers not only clean out their homes over spring, but also make lifestyle adjustments so they can apply for better life insurance coverage at an affordable rate. Now that spring has moved into summer, reassessing life insurance needs is a perfect use of extra time.
The life insurance providers suggest consumers quit smoking in order which generally equates to lower life insurance rates. Consumers should also aim to maintain a healthy weight as height and weight aka build are taken into account when someone applies for life insurance.
The providers also recommend consumers with a history of driving accidents take steps to improve their record so they are perceived as less of a risk to insure. A good credit score is also highly valued in a life insurance consumer.
Consumers looking for life insurance can find a wealth of information online to help them research what companies and products would best suit their life insurance needs. In a piece for Life Insurance News, Julie Campbell addressed the ways consumers can apply for life insurance while discussing the topic of death that are most comfortable to them.
Campbell said looking into life insurance is often not a task consumers look forward to. This uncomfortable, but necessary, process can be made easier if the consumer and his or her loved ones acknowledge that life insurance products are meant to increase financial stability for policyholders and their beneficiaries, not to reduce the mourning and grief following the policyholder's death. If consumers remember life insurance planning is an important step to ensuring a person's assets are passed down to prevent financial hardship for loved ones, then discussing the topic may be less morbid.
According to Campbell, life insurance policies are a form of financial planning. The policies increase financial stability as well as policyholders' peace of mind knowing that their assets will be given to the designated beneficiaries. The goal of a life insurance policy, in most cases, is to provide money to surviving loved ones so they can rebuild their lives comfortably while mourning the loss of the insured.
Because discussing life insurance can be very personal, it is important for consumers to work with a financial adviser or life insurance provider they can trust and feel comfortable with. Consumers should seek out financial professionals who give them enough information and guidance to make an informed decision, while also remaining open to any questions or concerns shoppers might have along the way. If consumers' feel their questions are heard and answered adequately, they likely want to work with a professional, Campbell reported.