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Life insurance

Buying life insurance today can be confusing.

Tips to save on life insurance

Be sure to negotiate--Contact more than one company

Health problems? Find a company that 'handles your disease'

Improve your health and stop smoking

Avoid hidden fees and policy riders

But with a little planning and preparation you can choose the policy that best suits your needs now and in the future.

Protect your family

First, learn the vocabulary. Do you understand the difference between term and permanent life insurance? If not, take time to learn this new vocabulary.

Next consider what your life insurance needs are and what part these needs play in your overall financial planning goals. Will the life insurance be used for investment, family expenses, or a tax shelter?

Questions and answers on life insurance : the life insurance toolbook
Tony Steuer.
Alameda, CA : Life Insurance Sage Press, c2010.
Need help facing the constant barrage of information from competing life insurance companies? With twenty years of experience in the life insurance business, Tony Steuer delivers a practical, one-of-a-kind resource for choosing the best life insurance policy for you or your family. Using a simple question-and-answer format, Steuer covers the essential basics and the finer points of life insurance, including how to:
     
Cheap insurance for your home, automobile, health, & life : how to save thousands while getting good coverage
by Carla and Lee Rowley.
Ocala, Fla. : Atlantic Pub. Group, c2008.
The authors provide concise but thoughtful insight on the way insurance companies in America (health, auto, life, and home) manage their risks, reasons to get insured, and strategies for finding the cheapest appropriate coverage. Home, auto, and health insurance are each covered in about ten chapters; life insurance is addressed in four. They explain what different types of insurance agents do and how to find one, the types auto policies available and their fine print and surcharges, Medicare and Medicaid, employee health policies, and actions to take when having difficulty getting insured, among other topics. Resources for information and advocacy are provided. Annotation #169;2008 Book News, Inc., Portland, OR (booknews.com)
     
After the ball : Gilded Age secrets, boardroom betrayals, and the party that ignited the great Wall Street scandal of 1905
Patricia Beard.
New York : HarperCollins, c2003.
"James Hazen Hyde was twenty-three in 1899 when he inherited the majority shares in the billion-dollar Equitable Life Assurance Society. Only five years later, he fell from grace in a Wall Street scandal that obsessed the nation and commanded 115 front-page articles in the New York Times." "Hyde was intelligent, cultured, and ambitious, but he was no match for an older generation that had mapped the backstreets of high finance. Vying to control the Equitable's vast investment pool, the most famous financiers and industrialists of the era - among them E. H. Harriman, Henry Clay Frick, and J. P. Morgan - put Hyde on forty-eight boards and included him in deals that shook Wall Street. And then, at the pinnacle of social success, he made a fatal miscalculation." "On the last night of January 1905, James Hyde held a fabulously flamboyant, eighteenth-century, Versailles-themed costume ball. His enemies used the party as the hook to hang him on, claiming that he was too frivolous to run a company dedicated to protecting widows and orphans; and spread the rumor that he had spent two hundred thousand dollars of Equitable money on a night's entertainment. By the time a government investigation established that Hyde had paid the bills himself, his reputation was ruined." "The bitter campaign to wrest control of the Equitable and its vast investment capacity from Hyde followed on the heels of the ball. As the fight escalated, clandestine alliances between insurers and Wall Street burst to the surface, exposing techniques that are the stuff of twenty-first century scandals, self-dealing, insider trading, accounting malpractice and corporate funding of private pleasures." "After the Ball tells a tale that riveted millions of Americans a century ago. Its themes are as fresh today as they were in 1905: greed and chicanery, the flawed love between fathers and sons, and contradictory American attitudes about wealth - all unfolding against a setting of magnificence, excess, and corrupting glamour."--BOOK JACKET.
     
Life insurance made E-Z
the Silver Lake editors.
Deerfield Beach, FL : Made E-Z Products, c2001.
Correctly evaluate your own insurance needs and choose the right kind of life insurance. Make life insurance work for you!
     

Shop around for the best price. The price will depend on your age, health, and habits.  But there are ways to save. [see sidebar]

Pick a reputable agent and company. Start by learning about the life insurance industry.

 The bottom line about life insurance is to know what you are buying, how you expect to use your life insurance, and that you did your best to select a company that is likely to be around for many years.

Article by: St. Louis Public Library staff