Life insurance has been
called a euphemism for death insurance, but who wants to think about it that
way? The important thing is that you think about it, and get insured, if
needed.
• A primer on life insurance, from the Boston
branch of the Better Business Bureau,
explains the many kinds of policies. The guide explains the different kinds of
insurers and notes you must read the actual policy before buying.
• Bankrate.com writer Jay MacDonald explores
the “myths about buying life insurance.”
James Hunt, with the Consumer Federation of
America, recommends term life and 401(k) investments as an alternative to
whole-life policies, saying, “The problem is, 40 (percent) or 50 percent of the
buyers drop out within 10 years and never get a good return on their money.”
• Tips at Forbes.com explain more about term
insurance. “If you are in a situation (where) your dependents will not rely on
you financially forever, your best bet is probably a term-life policy,” writes
contributor Jessica Bosari. “Once kids are [financially independent], there is
no reason to continue paying for life insurance.”
• You can look up Standard & Poor’s
ratings for companies at Insure.com, an independent insurance website.
• ConsumerReports.org advises caution even
with a well-rated company. This article gives guidelines for deciding if
ratings are trustworthy and how to evaluate the financial health
of an insurance company.
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