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How To

How to Buy Whole Life Insurance

Contributor
By Kelcey Lehrich
eHow Contributing Writer
(0 Ratings)

Whole life insurance is a type of permanent insurance that provides level premiums and strong guarantees for cash value and death benefits.

Difficulty: Easy
Instructions
  1. Step 1

    Contact a local insurance agent or broker. Consider contacting an insurance agent of Northwestern Mutual, Mass Mutual, Guardian, or New York life as these firms offer some of the best whole life contracts on the market.

  2. Step 2

    Schedule a paramed exam. When applying for life insurance you'll need to take a physical exam and answer some health questions; this process is called a paramed exam.

  3. Step 3

    Fill out the insurance application. Your insurance agent or broker will help you fill out the forms which will likely be 20 pages or more.

  4. Step 4

    File away the policy for safekeeping. When you take delivery of your insurance contract be sure to keep your copy someplace safe as you'll likely have this policy for many years to come.

Tips & Warnings
  • Be sure to consider the financial strength ratings of the insurance company you choose to work with.
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