After you have decided which kind of life insurance is best for you, compare similar policies from different companies with your Broker to find which one is likely to give you the best value for your money. A simple comparison of the premiums in not enough; there are other areas to consider. For example:
- Do premiums or benefits vary from year to year?
- How much do the benefits build up in the policy?
- What parts of the premiums or benefits are not guaranteed?
- What is the effect of interest on money paid and received at different times on the policy?
- How quickly does the cash value grow? Some policies have a low cash value in the early years that build quickly later on. Other policies have a more level cash value build-up. A year-by-year display of the values and benefits can be very helpful.
- Are there special policy features that particularly suit your needs?This guide provides only basic information. You can get more facts from the insurance professionals at Field Insurance Brokers Inc.