Purchasing life insurance is one of the most important financial moves you can make. The coverage from this type of policy protects your family from financially worrisome situations if you are not there to provide for their needs. When you work with an independent agent, you can get the protection your family needs for less.

One of the most important decisions you need to make is what type of insurance is right for your situation. The biggest factor to consider is time.

• With whole life insurance, the individual is covered for their entire lifetime. This type of policy allows you to borrow from it over your life, too. It can even be a part of your estate plan.
• Term life insurance is in place for a set amount of time. This type of policy is less expensive, but provides your family with financial protection when it is most at risk, such as when you have a mortgage to pay and dependents relying on your income.
• Guaranteed Issue insurance is for people who may have some pre-existing health concerns and are unable to purchase a traditional policy. With a Guaranteed Issue policy there are very few, if any, medical questions to answer. The coverage begins immediately for death by accident or illnesses not related to the pre-existing conditions. At the end of two years' coverage, death for any reason, including the pre-existing conditions, is covered. If the insured dies during the first two years, all premiums are returned.

To ensure you get the right type of policy as well as the most affordable option, discuss your needs with an independent agent. You can get a comparative quote for policies available to you right away. You are not getting a quote from just one insurance provider, though. Rather, you'll receive a quote from numerous local providers through your agent so you can compare your options. That way, you get the best policy for your needs and your budget.