You May Be Able to Get a Large Amount of Life Insurance Without Taking a Medical ExamTraditionally, buying life insurance often meant filling out a lengthy questionnaire, taking a life insurance medical exam and waiting for the insurer to get your medical records. An experienced independent life insurance agent or advisor should help you shop multiple companies for quotes and make sure that your choice of type of life insurance fits your financial goals. If the Price Is Too High, Buy What You CanThe free life insurance calculators available online can help you pinpoint how much life insurance you need. Don’t Rely on the Life Insurance Through WorkWorkplace life insurance is easy to get and affordable, sometimes even free to the employee, but it’s best thought of as supplemental life insurance to a policy you buy on your own. Life Insurance on Children Isn’t a Good Use of MoneyLife insurance on children is often marketed to parents and grandparents as a way to protect the child’s “future insurability”: If they develop medical conditions that make them uninsurable later in life, they’ll have the life insurance policy from childhood.

Source: Forbes June 30, 2020 13:41 UTC