When it comes to searching for the best whole life insurance rates, there are two key concepts: extensive research and shopping around. Can you think of another item, aside from your home, that you’ll be making as many payments on as your life insurance policy? This investment has a time frame of decades; be assured that the time and effort will be rewarded.
A given whole life insurance rate will have to be compared with policies with exactly the same configuration of coverage. Also remember that whole life insurance ratings, no matter what you settle on, will be more expensive than term life for otherwise similar policies because of the investment component of whole life policies. For this reason the first question that you really have to answer is whether term or whole life is best for you.
At any rate, the best place to begin is to ask your family and friends for suggestions, especially those close to you who are money-savvy individuals. They can be great sources of unbiased information and you’ll probably feel more comfortable asking them any ‘dumb’ questions that you might have if you are just beginning to learn about life insurance.
Any insurance agent would be ecstatic to receive your call, and they are usually more than happy to come to you so that you can go over the packages that they offer their clients. But this is critical: go with someone who comes personally recommended to you. There is an element of trust with an agent, and if he is unscrupulous you might be nudged in a direction that is sub-optimal for your situation. Be careful. And, don’t be afraid to talk to more than one agent, just as you’d get a second opinion when dealing with medical professionals.
Even if you ask friends and professional agents for their input as you compare whole life insurance rates, browsing online for websites that offer whole life insurance is absolutely still something you should spend time doing. The use of a good search engine is a very cheap and fast way to shop for insurance quotes from one insurance company to another. Doing this will also educate you about the ins and outs of whole life insurance so that you can ask questions with some background knowledge, increasing your chances of making a good decision. Take a look at as many sites as you can find so that your chances of you missing out on a great package are lower.