Some tips to find right policy that is suitable for you and your family

Figure out your needs

You can use online calculators to get a sketchy idea of how much money it would take to cover your existing spouse’s expenses until retirement, and/or your children’s everyday expenditure until they reach maturity or Finish College.

Options for term life

A term-life policy is the best and simplest option for most Americans ranging in age from about 20 to about 50. Cash-value life insurance can make sense for wealthy people over the age of 60 – but for most people, term insurance is the way to go.

Get quotes online

Web sites can give you a lot of pricing information fast – although all of it will be subject to a more detailed application process and a medical exam.

Get in shape

To improve your risk class, you can take steps such as quitting smoking, losing weight and dropping your cholesterol and blood pressure if they’re high. You also can get that exam before you apply for insurance so you’re not hit with any surprises. In some cases, the changes you make can save you tens of thousands of dollars over the life of a policy.

Decide how to buy

You can go it alone and buy insurance straight from the company, seek guidance from a fee-only financial planner, buy it through a commission-based financial planner, or buy it through an insurance agent.

Understand how these folks get paid

Insurance agents and commission-only financial planners don’t make money unless they sell you insurance products. Fee-plus-commission planners charge both a fee and a commission on products. Fee-only planners charge a fee for their direction but don’t sell products; you would buy the insurance coverage on your own.

Do your homework

If you decide to buy a policy on your own or hire a qualified to help you, you should bone up on life insurance on the different sites. This will help you feel more confident and informed.