Buy Life Insurance Online – 5 Tips in Purchasing Life Insurance on the Internet

How to buy life insurance online & tips to purchase to have your life insurance before you invest money as a security for your financial well being.

A reader asked me a question if he should buy life insurance on the internet before he invest his hard earned money. Well, purchasing life insurance online maybe easy nowadays. But you should know the real reasons why you should need to buy a insurance (health and life insurance) before you invest or focus your attention in investing money. Especially when you are investing in the high risk types of investments like stocks and equity mutual funds. Life insurance is just a piece of documents where in your family or beneficiaries will receive amount of money in case something happened to you.

An investor or a business owner should buy life insurance now because he don’t know what will happen to his life tomorrow, next week or even next month. Life insurance policy is just a guarantee that his family will receive cash to recover financially in case the bread winner will never be capable to work and earn a living. Here’s some tips and tricks on how to buy life insurance online. Purchasing life insurance is very easy because of the accessible insurance companies on the internet. Life insurance companies in United States and other part of the world has websites or mobiles apps that can help the clients purchase life insurance online.

WikiPedia defined life insurance as…”Life insurance is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money in exchange for a premium, upon the death of an insured person.” ⁽²⁾

Buy Life Insurance Online – 5 Tips in Purchasing Life Insurance on the Internet

I hope understand what WikiPedia says about life insurance. If you think you are the breadwinner of the family and the family members solely rely to you, then you need a life insurance. Are you ready to find a reputable insurer for you? Then let’s start!

1. Look for a Reputable and Proven Life Insurance Company

It is not easy to look for reliable life insurance company. Life insurance agent may sound good because he is promoting the insurance company. But when claiming insurance benefits that’s a different story.

Investopedia wrote an article about the best Life insurance companies in 2020, here’s their lists; ^(1.a)

2. Life Insurance Company Make Premium Payments Easy and Convenient

Paying life insurance premium is also easy because you can pay via online banking or mobile banking. You can save time when life insurance company allows its clients to pay life insurance premiums to pay online.

3. Life Insurance Company with Happy Clients

Having a satisfied clients is nice. Take note of the life insurance companies that makes their clients satisfied not just in paying premiums conveniently but also when claiming insurance benefits.

 4. Life Insurance Company with Knowledgeable Agents

When you buy life insurance online, you will not talk to insurance agents, you will only fill out some forms online like your personal information (your name, address, occupation, drniking or smoking habit, health conditions, beneficiaries, monthly income, gross income per year, etc.)

You should also talk to life insurance agent to guide you while you are filling up your forms. Life insurance agents should be knowledgeable not only about the company’s insurance products but also how life insurance works. The insurance agents can discuss you extensively about the three types of life insurance such as the;

3 Major Types of  Whole Life Insurance

There are three major types of whole life or permanent life insurance—traditional whole life, universal life, and variable universal life, and there are variations within each type. ⁽¹⁾

5. Affordable Life Insurance

When you buy life insurance, make sure it is affordable and reasonable. It is advisable to talk to a certified financial advisor before you purchase life insurance.  If life insurance is affordable and cheap, you can allocate other savings in investment funds. Therefore, you can now invest money while you are insured.

Final Words About Purchasing Life Insurance

As a summary, your life insurance monthly premium should be reasonable price, your insurance company’s agent must be knowledgeable and can guide you about buying a life insurance.

Buy life insurance to an insurance company with happy and satisfied clients. Start by asking other people what is the best life insurance companies in your country (in this case the reader is from USA). Be specific in your area, if you’re from New York City then ask life insurance agents in NY. If you’re from California, then ask advice on how to buy life insurance from satisfied clients in San Diego or Los Angeles.

Make sure you will pay insurance premium online for your convenience and most important thing, your life insurance company must be proven, tested, reliable and reputable.

References:

• ⁽¹⁾ https://www.iii.org/article/what-are-principal-types-life-insurance
• ^(1.a) https://www.investopedia.com/best-life-insurance-companies-4845858
• ⁽²⁾ https://en.wikipedia.org/wiki/Life_insurance

I hope you liked this article guiding you on how to buy life insurance online. Share it with your friends and join the discussions below.