How do I buy life insurance?
- Do I need life insurance?
- What if my spouse is financially dependent on me?
- What types of insurance are there?
- What is whole life insurance?
- What is universal life insurance?
- What is variable life insurance?
- What is term life insurance?
- What are the different types of term insurance?
- How much will life insurance cost me?
- What's wrong with using insurance as an investment?
- How big should my life insurance policy be?
- How do I buy life insurance?
When shopping for term insurance, check out Web sites such as Insure.com, AccuQuote.com and SelectQuote.com.
Try to make sure you only buy a policy from an insurance company that's in great financial shape, so it doesn't go out of business before you do. Before you purchase a policy, ask the agent - or check the insurer's Web site - for the company's financial strength rating, a letter grade from major rating services. Stick with the top grades.
The top grades from the major rating services are:
- A.M. Best: A++ and A+
- Standard & Poor's: AAA and AA+
- Moody's Investors Service: Aaa, Aa1, Aa2, Aa3
- Fitch Ratings: AAA, AA.
