Policy Considerations When You Buy Life Insurance - Factors to Take Into Account When Purchasing Life Insurance . Finding the greatest rate is only one factor when purchasing life insurance coverage. Policy options and the reputation of the insurance providers you are considering should also play a role in your decision. If a policy does not meet your unique financial and personal needs, even if it has the lowest premium, it is of little use to you. Everybody has different needs, and when it comes to purchasing life insurance, you are no different. You can make the most effective comparisons between various policies since you are the best judge of your needs. We'll look at term life insurance's many features (the most common policy archetype). Level, yearly, and declining term life insurance are the corresponding categories. Level-term insurance, the most popular of them, provides fixed premiums and death benefits for the duration of the policy. The death benefit of annual term