Wednesday, January 12, 2011

How to purchase life insurance rationally?

Compare life insurance to car insurance, for example. If you wreck your car the insurance policy pays you a check, so you get a direct benefit from the policy. The chances of you being in a wreck are pretty good - you see wrecks every day. Finally, if you wreck your car it is not the end of the world. You will simply go buy another one. Car insurance is therefore a commodity item that you purchase without emotion - you have to have it, so you buy it at the cheapest price you can find.

Life insurance - may get emotional because we talk about "death", "dying", "critical illness".... amongst those subjects most people try to avoid like "taboo".

So, how to buy a life insurance "rationally" rather than "emotionally"?

Ask yourself few questions:

  1. Do I need it?
  2. How much do I need it?
  3. How it integrated (work with) other plans in life?
  4. Who to buy from?
Do I have the answer for you? Yes and No.

Yes because I have done lots of study and research on this subject.
No because I don't know YOU yet.

Contact me to help you decide.