Life Insurance Basics
When it’s time to look for life insurance there are some basic things you ought to know first. What are the life insurance basics? And how can you find out about them? Just watch for starters!

LifeNet Insurance Solutions
11505 Eastridge Drive NE #420
Redmond, WA 98053-5758
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Video Transcript:

Hi, this is Lenny Robbins at LifeNet Insurance Solutions, and today I’d like to talk about some basics of how life insurance works.

When one purchases a term life insurance policy, they’re buying a policy that is going to stay in force and is designed to have a level premium for the term that they choose, whether it be 10 years, 20 years, 30 years (up to age 65) or even what’s called a guaranteed premium universal policy which has fixed premiums until you pass away at whatever age.

So that you can easily compare premiums from one type of a policy to another, but realize the longer the guaranteed period, the higher the cost. This is generally true for all ages, with the exception of when you get to be about 60, 65 years old and are looking still for a term policy for perhaps, 20 years, so that’s going to take you to 80 or 85. You will find that a permanent policy in most cases is going to be less expensive than a term policy. This is something that most people just are not aware of.

Another factor when looking for coverage is that the coverage is based upon what the life insurance company underwriter determines to be your health class. The agent, whether you’re going to one agent or a hundred can never guarantee a price to you. Only they ca give you what they think the cost is going to be. So, you want an agent that is going to give you an honest appraisal and then present your case to the life insurance company in the best possible light.

This is Lenny Robbins at LifeNet Insurance Solutions. Please feel free to give us a call or send us an email with any questions you might have, and thanks for watching.

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