Blunder #3 - Buying permanent insurance when term is more apprpriate...

 The fact is that insurance agents can usually make more money by selling you a whole life or universal life product than a simple term policy. "If" these products are the right products for your needs - ok. But, often they simply are a bad fit. It all depends on why you are buying life insurance and how long you expect to need it. An insurance agent's job is to identify the right insurance product, and get you the best possible value. If you suspect that your agent is more interested in making money than helping you, fire him or her. And, hire someone you can trust. One more thing, if some slick operator does manage to twist your arm. You always have 10 days, after you receive the policy, to cancel for any reason. The 10 day “free look” is the law.

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