Oklahoma City Insurance


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While many people in the U.S. remain completely		Buy when you're young. Although your financial
uninsured when it comes to life insurance, even more		needs may be lower at a younger age, the rates are also
who are insured are underinsured. Many		substantially cheaper when youre young. Remember,
consumers may own only half of the commonly		the goal is to cover your primary assets (like your salary
recommended amount (6-10 times your annual salary).		and house) so that if something were to happen to you,
Now is the time to shop for term life insurance rates, and		your beneficiaries would be able to persevere financially.
think about purchasing a new policy. You may be able to		The best advice is to lock in as much protection at a
afford more coverage than you think for low monthly		young age while your health and prices are still good.
payments!
		Select the right length of coverage. Everyone
There are two basic types of life insurance: Term Life		has different needs, and not one size fits all when it
insurance, where you choose the coverage amount and		comes to term life insurance. While it may make sense
length of the policy; and Whole or Permanent Life		for people in their 30s and 40s to secure a 20-year term
insurance (of which there are many variations), which		length, a 10-year term might be more appropriate for
combines an investment product with life insurance.		someone nearing retirement. People who are trying to
Whole life insurance is expensive, due mainly to its		quit smoking, for example, might be best suited
investment aspect, while term life insurance is very		purchasing a shorter term (and then replacing it with a
affordable, especially with todays all-time low prices.		longer term policy when they qualify for non-tobacco
		prices). Lastly, individuals who have 30-year mortgages
		might want to consider a 30-year term to ensure that the
		house is protected throughout the period of the loan.


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Check out your payment/billing options. Many		By increasing your deductible you can reduce your
life insurance companies offer discounts to consumers		insurance rates significantly. Just keep in mind that if
who pay their premiums annually, or who pay monthly by		your car actually gets damaged you will end up paying
electronic funds transfer (EFT).		this higher deductible to fix the damage. For example, if
		that dent in your hood costs $1,500 to fix and you have a
Work policies arent always the best deal.		$1,000 deductible, you'll pay that $1,000 while your
Work policies are often based on a composite profile of		insurance company only pays $500. On the flip side, if
the employees you work with, many of whom may be less		your car receives $5,000 worth of damage you will pay
healthy than you, or have other underwriting factors that		only $1,000 and your insurance company will pick up the
might drive up rates. These type of policies also expire		remaining $4,000. The amount of your deductible
if/when you leave the company. Inexpensive term life		depends on what your personal financial status or
insurance polices that cover your dependents until they		requirements may be.
can live comfortably on their own are often a better
alternative.

Oklahoma City Insurance
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