When Buying Life Insurance

Benefits of Membership

In these changing times, life can often throw us surprises. When it comes to protecting the ones you love and planning for your future, having life insurance in place really matters. Buying life insurance for the first time can be overwhelming. It is important to choose the right coverage for your lifestyle. Questions to consider regarding a life insurance policy purchase are:

Why do you need coverage?

Thoughtfully planning the reason for your life insurance can help you choose the right product. Are you looking to use the value of your life insurance for future expenses such as college or retirement? Or are you seeking a smaller amount of coverage for final expenses? The answer can determine whether a term life or whole life policy is best for you.

Shop around. There are many life insurance plans available in the market today, each with its own benefits and premiums. The best way to understand the differences is to do your homework-compare quotes from multiple insurance companies.

Name a beneficiary. A spouse is often the natural choice, but children, grandchildren or even a nonprofit organization can be named. Whomever you choose, be sure to notify them of the policy and inform them of where your paperwork is located.

Choose a financially secure carrier. Always review an insurer's financial rating before purchasing a policy. Several financial rating firms score insurance companies' stability, allowing consumers to identify their financial strength.

VFW sponsors several life insurance products. For more information visit www.vfwinsurance.com or call 1-800821-2606, option 1.