When it comes to life insurance, there’s a lot to know and understand. Life insurance is tricky and confusing. As the consumer, you don’t need to know everything. But, as with anything, it is helpful to know a bit as you start shopping for the best policy. Protecting your loved ones is important. And, even if life insurance is not the most enthralling subject, it is important to start thinking about ASAP.
Many things can impact the policy you are able to secure, and how much you will pay for it. Not only does your age and health affect your policy options, but your debt and number of dependents will also influence your policy. Where you live and your lifestyle are important factors as well. In general, the younger and healthier you are, the better rate you will be able to get on a good whole life insurance policy for you and your loved ones.
State laws have a major bearing on policies. Specifically, they have an impact on the rights of the insured. The rights of the insured can vary drastically from state to state. The consumer protection you had in one state might be irrelevant or void in another state. This is why you need to be very careful when it comes to replacing or transferring policies as you move from state to state.
Check out this easy quiz from Health IQ about the nuances of how state laws can have an impact on insurance laws. It is short but very informative. And visit HealthIQ.com/quiz for related quizzes, such as How The Medical Exam Affects Your Quote or the Pros and Cons of Group Life Insurance.