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Where to buy life insurance

 


There are a few ways to buy a life insurance policy:

Directly from the insurer. If you’ve done your own research and know exactly which policy you want, you can often buy directly from the insurer.

Through an agent or broker. Need a little help choosing a policy? That’s where a life insurance agent or broker comes in. An agent or broker can help you navigate your options, find a policy that suits your budget and gather all the documents you need to apply for coverage.

Compare policies online. Most insurance companies support online quotes. This makes it easy to shop around for the best coverage at the right price.

When you’re assessing life insurance companies, look at these three factors:

  • Financial strength ratings. These determine an insurer’s ability to pay out claims in the future. You can check out insurers’ financial strength through rating agencies such as AM Best or Standard & Poor’s. NerdWallet recommends choosing insurers with an AM Best rating of B+ or higher, if possible.
  • Complaint ratios. Ideally, you want to choose a company with a strong track record for customer service. NerdWallet’s ranking of the best life insurance companies favors companies that have fewer complaints to state regulators.
  • Policy options. Not all companies sell the same types of policies, and some focus on specific products, such as life insurance policies for children. Narrow your choices by reading life insurance reviews and knowing the type of coverage you want before you begin comparing life insurance quotes.

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