What You Need to Know to Buy Term Life Insurance
Most of what you need to know to buy term life insurance is fairly accessible information: your phone number, your height, your weight, how to operate a web browser (hint: you're doing it right now). Some things you need to know are not at the forefront of most Americans' minds, though, like how much coverage you need, how long a policy you should buy, and what your rate class is.
For those of you who do have all of this information handy, bully for you. You can start buying term life insurance right now by filling out the form in the margin. For the rest of you, there's good news: the experienced life insurance advisors at our parent company, Wholesale Insurance, have lots of practice evaluating life insurance needs, counseling clients, and presenting options. If you're open to human interaction, giving our office a call is a smart move that will help you to buy term life insurance.
If you wish to keep human interaction to a minimum but still wish to buy term life insurance, then you have two options: first, get out a calculator and evaluate your family's life insurance needs; second, follow the rule of thumb for life insurance, using your current earnings as an estimate for your family's financial demands. What's that rule? 7–10 times your annual earnings is fairly common. If you are in debt or just scraping by, it can be well worth chipping in a few extra bucks to get 12–15 times your annual earnings in coverage.
