The Dirty Truth About Life Insurance Quotes

The Dirty Truth About Life Insurance Quotes

Life insurance is something many people choose to invest in so they can properly plan for their family’s future. However, choosing the right one for your family’s needs can be overwhelming and confusing with all of the different types of policies. The wrong policy will end up costing you dearly and may actually cost your family in the future. You may believe your life insurance quotes are the amount you’ll pay for as long as you are the policy owner. However, in long-term future, you might need to pay unexpectedly high premiums. This article discusses the ways you can end up taking the wrong life insurance policy.

Cash Value Life Policies

Cash value life insurance policies can be purchased on their own or as a feature of whole life or universal life policy. This allows you to cash out the equity you have built up in your policy and use it for an emergency or any other reason that suits your purchase. The problem is, it may change the amount of your premium as time goes on. The more money you borrow from your equity, the higher your premiums will be over time.

It’s a Sales Pitch

Insurance agents are all about the sale of a policy. A reputable agent will be able to explain in detail how a cash value policy works. An insurance agent focused on making a sale can make a cash value policy look quite appealing, especially to individuals interested in funneling money into their retirement accounts. The fact is the sales pitch they use may not give you the complete information you need to make the best decision.

Misleading Quotes

Explaining how a cash value policy works can be difficult, especially if you have little understanding of how it will eventually work down the road. The goal of insurance is to provide you with the benefits you need when you need them. While it’s great to be able to borrow against the cash value of your policy, receiving a misleading quote may pose problems later on. If you are told one thing, e.g., your agent shows the highest projected returns on the policy, and your actual returns show something else, perhaps a lower amount, you may have been sold a not-so-good line of goods by an agent who didn’t have your best interest at heart.

You need an insurance agent you can trust when you want the honest truth about a cash value life insurance policy. Contacting Nick Agliato (nickagliato@wilk4800.com) at Steve Wilk Insurance is your best bet. You can also visit him at their new address at 310 S Main Street, Suite C, in Lombard, IL. Nick has the answers you can trust when determining the best life insurance policy for you and your family.