Knowledge is power. If you are to make wise decisions in your insurance planning, it is critical for you to understand in detail the costs, benefits, and risks of insurance products. It is also important for you to learn as much as you can about the providers of those products. Do your homework early and you will come to understand much better what various insurance products can and cannot do. Weigh the costs and benefits carefully before you purchase a particular insurance product. Many insurance products have high beginning or up-front expenses and are very expensive to modify or change after the policy is in force.

Also, compare products across companies, and make sure you understand the differences between competing products. Ask for help from your insurance agent or potential insurance agent  if you don’t understand the differences. As you examine the variety of available insurance products, recognize that your insurance needs will change over time.