By
eHow Personal Finance Editor
Difficulty: Moderately Easy
Things You’ll Need:
Step1
Roughly estimate the amount of insurance you need by multiplying your gross annual income by 6, 7, or 8 (if under 40), or 4, 5, or 6 (if over 40). If you have a mortgage to pay off, consider adding that amount to whatever result you have.
Step2
Go to insure.com, or any one of several other Web sites that feature life insurance quotes.
Step3
Fill out the questionnaires as honestly as possible; if in doubt about any health question, be a little pessimistic - at least for a quote.
Step4
Choose a quality company with a plan that appeals to you and that is affordable.
Step5
Follow the individual company's instructions for submitting a formal application.
Step6
If a medical or paramedical exam is necessary, schedule the exam time in the morning, if possible, for best results.
Step7
After successful underwriting, check your policy carefully for errors or inaccuracies.
Step8
Sign the delivery documents and return them to the insurance company along with your first premium check to put the coverage in force.
Step9
Keep your insurance policy in a safe place, treating it like any other legal document.
Step10
Make sure your beneficiary knows the policy's location and/or provide that person with a full copy of the policy.
Comments
markcrosenthal said
on 1/8/2008 I recommend having a license and trained life Insurane agent to come out with you and review all of your options. You want to make sure that you don't buy too much and you but enough to cover your bills. I also want to have a person to talk with all my questions and that will help me when I need them. You should want the same thing.