Tips for Buying Life Insurance

Life insurance provides income replacement for beneficiaries after death. Assess your needs, considering dependents, debts, and alternatives. Choose between term and cash-value policies, possibly combining both. Compare prices and check company financial stability through rating agencies. Read policies carefully, understand guarantees and penalties, and review your coverage regularly. Avoid switching policies without thorough comparison. For more info, consult the NAIC guide or your state insurance department.