If one is confused about which life-insurance policy to select, he can take the assistance of insurance agents and insurance brokers. An insurance agent is often employed by an insurance company to explain its new plans and offers to customers. On the other hand, an insurance broker is an individual who helps persons to select an opposite insurance plan as per their needs, and in return receives commissions from insured individual and insurance company.

 

The major determining factors for premium rates are insurance contract length, age and present health condition.

 

So, if you wish to safeguard your loved ones after your demise, decide on a suitable life insurance scheme that will pay huge benefits to them. If the cost of term insurance policy does not fit in your budget, you can also think about buying accidental death scheme.