BUYING LIFE INSURANCE
Part 1

Buying life insurance is not like any other purchase you will make. When you pay your premiums, you are buying the future financial security for your family that only life insurance can provide. Among its many uses, life insurance helps ensure that, when you die, your dependents will have the financial resources needed to protect their home and the income needed to run a household. By buying your life insurance through PRCUA, you also help fund our many fraternal benefits.

Choosing a life insurance product is an important decision, but it often can be complicated. As with any major purchase, it is important that you understand your needs and the options available to you. This is where a PRCUA agent can help you the most.

Life insurance can be used to help with other financial goals, such as funding retirement or education expenses. However, it is important to remember that the main purpose of life insurance is financial protection. All forms of insurance are by design to protect you and your loved ones from the risk of the unexpected. If your primary goals are something other than protection, you should consider what other financial products are available to meet these goals.

The best way to make an informed purchasing decision about life insurance is to become familiar with the basics. You must be able to answer the following questions: Why do I need life insurance? How much life insurance do I need? Which type of insurance, permanent or term is best? What are the advantages and disadvantages of each type? What can I expect an agent to do for me?

With a knowledge of life insurance basics, you can ask the right questions and purchase the right plan and amount which truly meets your needs.