Term life online  - Overinsuring term life

be careful not to overinsure your life needs

 

 

One of the hardest parts when shopping for life insurance is establishing how much coverage to purchase.

 

We're talking about years into the future and many unknowns.

 

In fact, there are only a few "knowns" and we have to put our faith in these when considering the amount of life insurance coverage.

 

Most people do not consider the possibility (much to their later chagrin) of over-insuring their life needs.

 

You quote different levels of coverage here:

 

 

Let's investigate further to avoid life over-insurance.

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Avoiding Overinsurance of Life Benefits

 

I know...it's strange for a life insurance broker to be warning you against buying too much insurance.

 

Shouldn't I be offering you sorts of plans, riders, and bells and whistles?

Well, no I shouldn't if I'm doing my job.

 

The goal is not to insure against every possible scenario in the aim of covering 100% of risk in a person's potential future.

 

It's just way too expensive.

 

You'll be insured for the future but unable to afford living life today!

 

It's always amazing to us how many people are either over-insured or poorly insured.

 

If you have coverage in effect right now, there's a good chance you fit this bill.

 

That's how prevalent it is.

 

So what is over-insurance?

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What is Over-insurance?

 

The first definition of over-insurance is quite simply life insurance that you can't afford.

 

A large percentage of life insurance policies lapse in the first two years.

 

That's basically money thrown away and it sets you up for much higher rates at a later date since life insurance rates are based on age at the time of enrollment.

 

There's a big difference between 35 and 40 years old.

 

You have to keep in mind that every person and every family goes through financial periods of downturn or change during the long range.

 

If your budget is $100 right now, it might be $50 during a rough patch.

 

You can go ahead and max out the $100 but you don't want any budget items that stand out for the ax during rough financial times.

 

Insurance in general typically comes up during budget review and it's tough not to consider cutting it since the benefit and protection is for the future (not the present).

 

Taking this into account, you want to safely be able to afford the life insurance premium with a little buffer just in case.

 

Every person has a different threshold for what feels manageable.

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How do you find the right amount of life coverage?

 

The simple formula is 10x annual earnings but that fits about 10% of prospective Americans!

 

Life insurance is like a tailored suit.

 

It really needs to fit your situation well.

 

The best bet is use our 25+ experience to get the best value and make sure you don't over-insure.

 

There's no cost for our assistance.  Zero.

 

Ultimately, we want to find the policy you want to keep!

It's in our interest and yours. 

 

 

You can run your Term Life Quote with Expert Assistance here to view rates and plans

 

Again, there is absolutely no cost to you for our services.  Call 800-710-0455 Today!