The 5 Worst Ways to Buy Low Cost Life Insurance – by Lenny Robbins
- Buy Life Insurance from a Captive Agent – A captive agent is an adviser who works for only one insurance company. Captive Agents can only advise on a few products rather than a range of companies and products.
- Buy Life Insurance from an Internet Website – quote engine’s can’t answer any questions or give you idea’s of what is best for your personal situation, rather they will give you the quote with the lowest price which may not be the best product for you as an individual.
- Buy Life Insurance from Your Auto Insurance Company – your car or home insurance company might offer you a ‘deal’ on a Life Insurance policy however for them this is simply a sideline offer rather than the comprehensive service you would get from an specialist adviser.
- Buy Life Insurance from an Affiliate Group – these offers can be very tempting, they start off with very low pricing which is attractive however these prices go up as time goes on. Eventually the policy may become too expensive to maintain and you may have a harder time getting affordable life insurance elsewhere if you wish to change.
- Buy Life Insurance from your Job – although it may be cheaper to have insurance through your job then on your own, what happens when/if the job ends? A group life insurance policy may not allow you to retain your insurance when you leave your job, you may end up paying a lot more if you have to replace the insurance later.
The Bottom Line
An independent adviser works with many highly rated companies so you can have choices, they work with you to find which policy is best for your particular needs. They work for you, not for the company, their goal is to help you get the best affordable policy for you.
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