48
QuizMultiple Choice

Life Insurance

Question 48 • Financial Math - MA2007

When shopping for life insurance, the best strategy is to:

Answer
A
Follow your agent’s recommendations. They are the experts and it is the agent's job to make sure you get the products that are right for you.
B
Buy your coverage through your employer, if possible.
C
Figure out how much you need, then comparison shop using the Web and other resources.
D
Wait until you are older so that you can buy a cheaper, shorter term policy.

Explanation

First determine how much life insurance coverage you need based on your financial responsibilities and goals. Then compare policies, prices, and terms from multiple sources, including online resources, rather than relying on one agent or assuming workplace coverage is best. Waiting until you are older can make coverage more expensive, not cheaper. The best strategy is to figure out how much you need and comparison shop.

AI-written and checked against the verified answer.

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