five mistakes to ruin your life!!

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this article if you will do this your life must be ruin. mistake no1. WAITING TO BUY INSURANCE regardless of the reason, its important to take action as soon as you feel a policy is required. life insurance rates generally increase as people age or their health deteriorates. and, in some cases, illness or health problems may make you ineligible for coverage. the longer you put off the buying the decision the more the insurance will probably cost. mistake no. 2 BUYING THE CHEAPEST POLICY while it is important to shop for a policy that's priced in line with the rest of the marketplace, that should not be the sole consideration in your decision-making process. life insurance policies can be a bit complicated, so it's a good idea to learn about policy features and benefits. mistake no. 3 MAKING LATE PAYMENT OR MISSED PAYMENT Some of these policies can be sensitive to the timing of premium payments. for example, if you happen to miss a monthly payment- or more than a month late sending in your check your guaranteed policy will no longer be guaranteed. a policy with guaranteed coverage to age 100 might only provide protection to age 92 if one premium payment is late or missed. mistake no. 4 FORGETTING THAT INSURANCE IS AN INVESTMENT you must fund a variable life policy sufficiently to maximize its cash value growth. this means continuing to make adequate premium payments, especially during times of poor investment returns. paying less than originally planned can have a big impact on the cash value available to your in the future. it's also important to monitor your policy performance and periodically " rebalanced" your account to your desired allocation, just as you would with any investment account. this will help ensure you're not taking on more risk than you had planned when you set-up your account. mistake no. 5 BORROWING FROM YOUR POLICY if you have taken too much money out and your policy is about to lapse, you may be able to maintain the policy by making additional premium payment's, assuming you can afford them. when accessing your life insurance policy's cash value, be sure to monitor it closely and consult your tax adviser for guidance to avoid any unwanted tax liability. CONCLUSION the decision to buy life insurance is an important one. make sure you read your policy and understand all of its provision .