If you’ve ever bought or considered buying life insurance, you know that there is a lot of fine print associated with any of the policies. Although you should still read the “fine print” when selecting the policy that is right for you, there is some general information that you should be aware of prior to delving into the process. You should be aware of the basic differences between term and whole-life and universal life insurance coverage, as your choice will make a difference in how long the life insurance may remain intact versus how long you have to pay premiums. Perhaps the least understood reality of life insurance is that certain products, although perhaps paid-up by you, will fail to pay out when the time comes that the benefit is needed.
For more information and to learn about the 10 things life insurers won’t tell you, visit this report.