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The 9 Do's and Don'ts of Life Insurance

The 9 Do’s and Don’ts of Life Insurance

By Delmarva Insurance Group | Mar 20, 2015 


If you have a family to support or if a loved one would suffer if your income suddenly disappeared after your untimely death, you should consider life insurance.

DO: Purchase enough life insurance to cover five to eight times your annual salary in order to help dependents 

DON'T: You don’t want to get multiple, small insurance policies. It is better to get one life insurancepolicy that you can modify as your needs change. 

DO: Consult with a financial planner do not just take the insurance agent’s word for it as they benefit when you purchase a higher value policy. 

DON'T: Ignore the need for stay-at-home parents or spouses to have life insurance. If they die unexpectedly, there is generally a need to pay more for daycare, housekeeping or other services. 

DO: When buying term life insurance, choose a policy that automatically renews and is convertible. A renewable clause will allow you to renew a life insurance policy for another term no matter what happens to your health in the meantime. 

DON'T: Count on a whole life insurance policy as a high return investment. 

DO: Review your insurance coverage needs each time there is a major life change, including divorce, birth, marriage or death of a family member. 

DON'T: buy life insurance from the first life insurance agent you find. You should shop around to make sure you are getting the best rate for the coverage you need. 

DO: If you quit smoking since  the policy was written, review your policy and see if you can get a lower premium.


I hope you have found this brief article informative. I'd be glad to answer your questions about life insurance, review your current policies, and help you shop for (additional) life insurance.

I'd like to send you no more than 2 articles like this per week to help ensure you have considered all of your family's potential needs, insurance gaps, etc.

If you do not want to receive them, please let me know.


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