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Principles of Risk Management and Insurance, 13th Edition by Michael McNamara, George E. Rejda

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Shopping for Life Insurance

Developing a sound life insurance program involves seven steps, as illustrated in Exhibit 13.6. These steps are not necessarily sequential; all or part of them may be applied in various sequences and/or simultaneously. Some people find it useful to seek the assistance of a professional agent or financial planner who is highly competent and places your financial interest first. Even if you have professional assistance, however, the purchase of life insurance is too important not to be actively involved.

A flowchart.

Exhibit 13.6 Shopping for Life Insurance

Determine Whether You Need Life Insurance ...

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