You are working hard to increase your earning power, but have you insured it? If your family depends on your income, then life insurance is a necessary part of your financial plan.
Many people put off buying life insurance because they don’t feel like they are informed enough about the industry to make good decisions. Terminology like “term life” and “whole life” can be confusing, and most of us aren’t very well-educated on the insurance industry.
You might feel vulnerable talking to insurance agents if you’re not sure you understand your options. But while you’re waiting to make a decision, your premiums are going up and your family is at risk. What can you do?
This quiz from HealthIQ.com can help demystify life insurance a bit. Learn about the pros and cons of term versus whole life, the factors that impact your premiums, and whether your will influences your choice of beneficiaries. The quiz covers important topics like when to buy to get the best price, the greatest downside to depending on an employer-sponsored plan, and how to verify the stability of your insurance company. You’ll learn about factors that influence price, when a medical exam is necessary, and what options are available to you if you have health issues that could prevent you from getting insured.
Life insurance is a vital part of a financial plan, especially when other people are depending on your income. Spend a few minutes taking this quiz, and you’ll feel a lot more confident about evaluating life insurance options.