The purchase of term life insurance can be easy and painless. The online shopper can search the web for term life insurance rates and find enough information to make a decision very quickly. The key to shopping for life insurance is pre-determining the amount that you need and the type of term policy to cover that need. Once you resolve these two issues then you are able to go online knowing exactly what you are looking for and that is a major time saver.
Single Needs Purchases
1. Final Expense Fund - Final Expense insurance is a basic single need purchase. Shopping for final expense is the simplest single need life insurance purchase that you will ever make. Determine the amount that you want for burial expense and go shopping for it online.
2. Mortgage Life Insurance - Mortgage life insurance is another basic single need that you can shop for online. This is a decreasing term policy that is issued to cover the mortgage balance on your home.
3. Readjustment Period - This is another single needs purchase. This policy is purchased to provide an income for the beneficiary for a pre-determined length of time.
The combination of all of these needs can be purchased in one or two policies as well. You will shop with greater confidence and purpose if you can pre-determine the amount that you need. The type of policy is your next decision. Do you need a Mortgage policy for 10, 15, 20, or 30 years? Level Term insurance is usually purchased for income replacement. How many years do you need your income replaced? When you answer these questions then you are off and running. There may be a waiver of premium rider available with your term policy. This rider will pay your policy premium should you become disabled. Make sure that you are comparing your term policy with and without this rider.
среда, 31 октября 2007 г.
Buy Term Life Insurance Online It's Quick And Easy
понедельник, 29 октября 2007 г.
Life Insurance Term Verses Whole Is Term Life Insurance Better Than Whole Life?
There has been an on-going battle in the life insurance industry involving term life insurance and whole life insurance. The industry has survived the battle but the consumer is still asking the same question. Which one is better? The question is flawed because these two policies serve two different purposes. The real battle comes over the concept of buying term and investing the difference or the purchase of permanent life insurance. The proponents of buy term and invest the difference surmise that the policyholder would do better investing the difference in premium costs that you save by purchasing a term policy rather than a whole policy. Permanent life insurance was never created to be an investment. It was created to take care of permanent life insurance needs. The cash value accumulation within permanent life insurance is an added benefit and not an investment feature. The best life insurance portfolio is a combination of both permanent and term life insurance.
Permanent Life Insurance - Permanent life insurance should be purchased for permanent needs. Final expenses and life insurance for retirement are two basic permanent life insurance needs. Life insurance at retirement is critical because it gives you more options to use your retirement benefits for income rather than life insurance.
Term Life Insurance - Term life insurance is for temporary needs. Term life insurance will compliment your permanent base of life insurance. Decreasing term and level term riders can be added to your permanent policy to take care of temporary needs like mortgage protection and short term debt.
It is important to understand why you are purchasing life insurance. You will be much more content when you establish in your own mind the reasoning behind the purchase. Do a little mini-need analysis. Think about what is important to you and who is important to you. Life insurance is a gift of love.
воскресенье, 28 октября 2007 г.
Life Insurance Policy For Child Why Buy Life Insurance For A Child?
There are a few of pro's and cons' about purchasing life insurance on children. Life insurance must have an insurable interest. There has to be good reasoning behind the purchase of life insurance on children. The first priority is to first make sure that the income producers in the household have an adequate amount of life insurance. Large amounts of life insurance on children with little or no life insurance on the bread winners will make little sense to an insurance company underwriter. Life insurance underwriting departments will often require a certain ratio of life insurance on parents to children. There are advantages in purchasing life insurance on children after the parents are insured properly.
Most companies have children term riders that a very inexpensive. Children term riders will protect the insurability of the child. These term riders can be converted to permanent forms of life insurance when the child reaches the ages of 18-21. This is a valuable feature if the child is uninsurable because of health reasons.
Permanent Life Insurance on Children - Some parents have purchased permanent life insurance policies on children so that they can use the cash value accumulation later in life. Permanent life insurance is relatively inexpensive and should be considered on a child once the parents have taken care of their own life insurance needs.
Why Buy Life Insurance on a Child?
1.Protect Insurability - Purchasing life insurance on a child will protect the Childs insurability.
2.Cash Value Accumulation - Purchasing permanent life insurance and funding it with adequate enough premium to produce cash for college education or future needs. Universal Life policies are excellent policies for this purpose.
3.Final Expense - This is the basic purpose for all life insurance.
There is the added benefit of teaching the child about life insurance. Parents that show their children the benefits of life insurance prepare the child to take responsibility for their own financial future.
суббота, 27 октября 2007 г.
Life Insurance: Fat Customers Tell Porkies
According to a recent survey almost a quarter of UK citizens are over weight but, says Cancer research UK, 25% of these are simply not interested in losing weight. We are in fact the second most obese nation in Europe, second only to Greece.
This not only concerns the UK Government, who have just announced a concerted campaign to tackle the problem via GP's, but also the life insurance industry.
The problem is that many people are still sensitive about their weight. Sensitive to the extent that they'll convince themselves that they're sticking to a diet when they are patently not. The loss of a pound or two occasions celebration, whereas the same two pounds going back the next day remains unannounced. Ring any bells for you?
Well normally, a porky or two about your true weight doesn't harm anyone - other than perhaps yourself. But now life insurance companies are having to take a much closer interest. They suspect that lots of people are telling lies about their weight on their life insurance applications.
Consequently, Scottish Provident, one of Britain's biggest life insurers, is tightening up its application procedures. Now, as well as asking applicants how much they weigh, they'll be asking when they last weighed themselves. It's an attempt to encourage applicants to answer more accurately rather than pluck a figure out of thin air or being economical with the truth.
A spokesman for the insurer said, "We know that people normally understate their weight, mainly because they are in denial about the subject, although there are also some people who will lie just to get cheaper premiums".
The British Medical Association classifies someone as "obsess" if their Body Mass Index (BMI) exceeds 24 but most insurance companies are now using 30 as their obesity definition. Above that figure and you'll find that they'll load your premium and even ask to have a medical examination. Anyone who is overweight could easily see their life or critical illness insurance premium loaded by up to 50% - and extreme cases, cover will be refused.
So, if you want to know your BMI, take your height in meters and multiply it by itself. Then take the result and divide it by your weight in kilograms. The result is your Body Mass Index.
Whilst BMI has become the accepted method of assessing someone's weight, it does have limitations as it doesn't discriminate whether the weight is being carried in fat or muscle. And a study of 33,000 adults reported recently in The Lancet, concluded that the medical profession's "over 24" BMI obesity definition could be raised to "over 25" without harming health. That's the equivalent of adding an extra half stone. Their research also found that only adults with BMI's in excess of 35 suffered a pronounced lowering in life expectancy.
But in accepting a BMI level of 30, the life insurance industry has taken a cautious mid position. Well, if it was your money at risk, wouldn't you?
пятница, 26 октября 2007 г.
Life Insurance as an Investment
Term insurance provides coverage for a pre-specified period. For example, term insurance is designed to protect a mortgage or provide income for your family in case of your death. You pay the term insurance premium each month and as long as you pay the premium your policy will stay in force. Once the contract reaches maturity (usually in 10 years) you need to renew your policy at a higher price. If you die while you're paying the premium your estate gets a large sum of money.
In contrast, permanent or whole life insurance remains in force until you die. You pay the premium on a monthly basis for a pre-specified term, which can range between 10 to 20 years. A portion of your monthly payment pays the insurance and the life insurance company that provided the insurance invests the remainder. Eventually you don't pay any premiums but your estate still receives a large payment upon death.
Whole life polices have been criticized because their investment returns are low. Thus you were often advised to buy life insurance protection with a term policy and invest the difference between term and whole life payments in a separate investment vehicle, such as mutual funds, stocks, or bonds. Once you have built up a large pool of assets you don't need the insurance because the assets will provide security and stability in the event of an unexpected death.
However, there is a new, more flexible product called universal life insurance. While the life insurance company controls the savings in a whole life policy, the savings in a universal life plan are owned and controlled by the policyholder. Insurance companies offer a large variety of investment options for this savings component, including mutual funds. Thus, you have the ability to meet your life insurance needs and increase your return on investment.
The major advantage of a universal life policy is tax-advantaged growth. When you pay the policy premium, a portion of the premium pays for the insurance and a portion is invested. However, when you are ready to withdraw the money from your investment, your cost basis ( the portion not subject to tax) is higher with a universal life policy. The cost base for a universal policy is equal to the sum of all your premiums - the amount of money you have invested plus the money you have used to buy life insurance. This is very useful because increasing your cost base will ensure you pay less tax once you sell your investments within the universal life policy.
Universal life insurance provides a powerful combination of life insurance and tax-advantaged investment opportunities. Investors should realize that universal life insurance premiums work twice as hard as other premiums. They should also know that choosing the right product is an important element in the overall success of this strategy. Finally, the benefits of this strategy are magnified if you are in a higher tax bracket.
среда, 24 октября 2007 г.
Life Insurance Comparison Precious Advice
When you are ready to purchase a life insurance policy, you are advised to make a life insurance comparison. You should ensure that you are getting the best possible life insurance at the best possible rates. There are different types of life insurance policies available in market with different rates so you are recommended to spend a little time and gather valuable information of the various companies to get the best deal.
During a life insurance comparison, first you have to justify the type of life insurance policy you would like to prefer, whether it is a low cost term life insurance or a universal life insurance. There is a huge difference between these two life insurance policies. Term life insurance is meant only for a short span of time. In case you remain alive after that period, then the term life insurance policy needs to be renewed or you will need to purchase a new one. Whole life insurance or universal life insurance on the other hand lasts for your whole life.
There are lots of whole life insurance companies available online, and it is not difficult to compare the benefits of different online life insurance companies, their quotes etc. If you are in search of a term life insurance then you are advised to request for a minimum of three online term life insurance quotes to compare premiums and settlements offered by each of them.
When you are comparing life insurance policies, the most important aspect is to make a comparison of monthly premiums that you have to pay. The premium should be as low as possible and in case of universal life insurance, the premium depends upon the market conditions.
Only comparisons of premiums are not enough, you should also compare whole life insurance rates with term life insurance rates. The best method for comparison is free life insurance quote. If you are not confident it is advisable to seek help of a reliable insurance agent to get you the right policy.
вторник, 23 октября 2007 г.
The Comparison of Term Life Insurance with Whole Life Insurance
Life insurance is a serious business that people should think twice about before signing, because it is not an investment tool, nor a way to save for college when purchased for children. However, for those who understand what insurance is intended for, term life insurance versus whole life insurance is a consideration coming into play.
A whole life insurance company generally may provide a term life insurance quote to help you decided on the insurance to be purchased. Money is the critical factor between both insurance coverage's. As an example, the first annual premium of a whole life insurance policy is typically much higher than the annual premium for a term life insurance.
Life insurance can be purchase for many purposes, including providing financial security for your spouse, children's education after your death, pay death expenses, donate the proceeds to a charitable organization, and so on. The top reason people usually buy life insurance is as an income replacement after death for their dependents.
Term life insurance is a life-only coverage policy, in which the benefits are obtained after your die. Therefore, if you are alive, there is no money for your beneficiaries. Whole life insurance offer death benefits but also a savings account, called "cash value", giving money back if you are alive after the signed term, cashing the policy before it occurs, or borrowing money against the policy.
Typically, if you require a life insurance quote before buy the policy, either the insurance company, financial institution or online services, provide it for free. Purchasing life insurance from a whole life insurance company may result in a more expensive plan than buying term insurance, because of the funds put into the cash value account.
In addition, the longer your policy term, the higher cash value to the name beneficiaries or the surviving insured due to the insurance money being paid and the cash value earned dividends, interests or both, for terms ranging from 1 to 30 years. However, any whole life insurance company or other institution can lock whole and term life insurance policies into the same monthly payment over the whole life of each policy.
When it comes to life insurance, many people consider whole life insurance as a type of retirement plan; however, they are more likely forced saving with high commissions and fees, including up front hidden commissions up to 100% of the first year's premium. On the other hand, premiums for term life insurance are cheaper for people in good health up to age 50 or so.
If you ask for a term life insurance quote, you will be able to notice how premiums become progressively more expensive after 50 years, although a whole life insurance company may apply higher premiums according to the insurer's age, and most companies do not sell life insurance to people over age 65.
понедельник, 22 октября 2007 г.
Veteran Universal Life Insurance What Is It And What Are The Advantages?
Veteran Universal Life Insurance is insurance that works for veterans to aid them in their post military endeavors. Universal life insurance means that you can vary or even suspend your premium payments depending on the financial pressures you face. Unlike typical life insurance, which pays out only on the demise of the policy holder, or at a nominated age, veteran universal life insurance is an investment scheme as well as life insurance.
This means that you build up a balance which you can borrow against or from to finance various purchases. The flexibility that is built in with payments is unparalleled in the insurance world, and can really help you and your family financially. If the policy is performing well, your beneficiaries may even receive more than the nominated death benefit.
You can also borrow on the balance of the insurance, for things like post retirement income. These withdrawals are deducted from the death benefit which is paid out to the beneficiaries. All these benefits do come at a cost however, a cost that you bear in the form of higher premiums than normal life insurance.
Where the advantage comes in is that you can effectively combine life insurance and investment together, not only that, but the policy can be tailored to suit the needs of a growing family. You can often choose which investments your policy goes towards. You can choose from stocks, bonds, and mutual funds. Not only that, but you can often change which investments your premiums go towards if you so desire.
This means that you can choose the amount of risk you take on, all whilst reaping the rewards that come with investments. Veteran universal life insurance can be an excellent investment and means of safeguarding your family financially, but it does pay to investigate the ins and outs of the particular policy offered to you, and also to learn a little about investing before you take the plunge.
воскресенье, 21 октября 2007 г.
Affordable Life Insurance Rate Is It Possible To Get?
If you're looking for an affordable life insurance rate, you're inundated with choice. There are so many companies competing for your business with various terms and rates and conditions that it can be difficult to find the best affordable life insurance rate.
Simply put, your best option is to shop around. Using the Internet to get quotes will save you a lot of hassle and telephone calls. You may also get a better rate if you purchase your insurance online, simply because it saves the insurance company time and hassle as well as you.
Other ways to ensure that you get affordable life insurance rates are to make sure that you keep yourself in good health, and especially do not smoke. Smoking can send your insurance rates through the roof.
Aside from personal factors, the other aspect of insurance that will effect your rate the most is the type of insurance you choose. Whole Life Insurance has higher rates, because you are covered for the duration of your life, and the policy builds a cash value. Term Life Insurance on the other hand, which you can obtain for as short a period as a year, boasts considerable lower rates. This is due to the fact that you are insured only for a short period of time, and the policy does not accrue any cash value.
Many people who just want to make sure that their families are covered do chose term life insurance, though you should be aware that the rates for term life insurance are cheaper initially only. As you age the rates increase exponentially, so if you're looking for a longer term life insurance solution, you may want to think about how much the various forms of insurance will cost you in the long run.
Essentially, getting an affordable life insurance rate depends both on your personal circumstances and the type of cover you are looking for. Always compare quotes from various companies before taking the plunge, you'll be glad you did.
суббота, 20 октября 2007 г.
Knowing The Pros And Cons Of Finding The Best Whole Life Insurance
The major benefits of the best whole life insurance, or permanent life insurance as it is known in some circles, can immediately begin even if you are still young. Much as its name implies, you are covered for your entire life if you decide to enroll in this kind of policy. With great flexibility, you can begin the policy at whatever age you wish - and provided you continue to pay the premiums, the policy will last until you die even if you live to be over one hundred. In contrast to this flexibility, term life insurance can only be purchased for a set period of years determined actuarially by your insurance provider.
Secondly, permanent life insurance holds a major advantage over term life because of the diversity in policies you can purchase. The first these unique policies is the typical or traditional style of insurance in which the premium remains roughly the same as long as you pay on time year after year. Premiums from this type of policy start high, but do not increase by much the older you get. By keeping the premiums low, insurance companies allow retirees on a fixed income to still keep the policies they held when they were younger.
With the second type of whole life insurance, universal form, you are allowed to change the payout and premium levels of your policy as the years go by. While a medical examination is required whenever you make these changes, you can use this type of insurance as a way to generate interest to help you pay for rising premiums if necessary.
Next we have variable life insurance. With this style of insurance, you are actually able to invest a small portion of your payout in bonds, the stock market, or just about whatever other moneymaking offer you see fit. Even though you could lose a portion of insurance by investing, the chance of increasing your payouts size without increasing premiums is a big draw for many people.
Finally, you can combine the advantages of the previous two types of policies in a variable-universal plan. This type of life insurance not only allows you to raise or lower your premiums and payouts through regular medical exams but also lets you invest part of the payout in different stocks or bonds. Without a doubt, if you want to maximize your best whole life insurance benefits, the variable-universal plan is a type of insurance that you should definitely consider.
Advantages Of Whole Life Insurance How To Get Them
Your One-Stop Quality Finance Article Source Submit Your Articles On Auto-Pilot Automatically submit your articles to thousands of publishers - save time, and get massive publicity for your website! CLICK HERE! Advantages Of Whole Life Insurance - How To Get Them
Authored By: Greg Haehl
Whole Life Insurance is insurance that stays in place for the duration of your life. There are several advantages of whole life insurance that make it a preferred insurance choice for many people. The first is that whole life insurance accrues a cash value, which can be paid out upon death, or at a certain age. Whole life insurance is not just insurance, it is an investment which can be borrowed against, and as long as you keep up with the premiums, will stand the beneficiaries in good stead.
While whole life insurance may initially be more expensive than term life insurance, in the long run it can be less expensive. Whole life insurance is regarded as an investment, and as such, may pay dividends throughout the life of the policy. These dividends can be used to pay down the premiums, or in other nominated ways that can mean that you save money in the long haul.
Whole term life insurance policies can be paid out as a lump sum, or in monthly payments, so there is some flexible for policy holders who do not wish for their policy to be spent irresponsibly. There are also now a large range of various policies which allow customers to pick and choose conditions that suit them them best.
Due to the expansion of the insurance industry, you are well advised to look at your own needs and desires critically, to make sure that the package you end up signing for suits your needs best, and does not carry superfluous costs which will not benefit you at all.
If you are looking for whole term life insurance, be sure to look around various companies, and to request quotes online. These save you both time and money, and are well worth the effort when you consider the magnitude of the investment you could be making, and the importance of the cover to your loved ones.
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Veteran Universal Life Insurance - What Is It And What Are The Advantages? - By : Greg Haehl
Affordable Life Insurance Rate - Is It Possible To Get? - By : Jessica Farrell
Long Term Life Insurance - Why Get It? - By : Jessica Farrell
The Comparison of Term Life Insurance with Whole Life Insurance - By : Natalie Aranda
Life Insurance Comparison Precious Advice - By : Oliver Turner
Life Insurance: Fat Customers Tell Porkies - By : Michael Challiner
Life Insurance as an Investment - By : Tony Reed
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четверг, 18 октября 2007 г.
Long Term Life Insurance Why Get It?
Long Term Life Insurance is term life insurance that is taken out for an extended period of time. Most term life insurance tends to be for a period of between one and seven years, but some people prefer a longer term cover. Insurance companies have responded to this demand by offering a new range of products that fall somewhere between whole life insurance and traditional term insurance.
Normally when people want long term cover, they purchase whole life insurance, which covers them for the duration of their life, and also builds a cash value. However, if you do not wish to pay the extra premiums that are associated with the investment, then perhaps long term insurance rather than whole insurance may be the way for you to go.
These policies may be referred to as "Permanent Life" policies, and can be set up so that they are payable on demise, or at a certain age. Long term life insurance really blurs the line between whole life and term life insurance, with policies often borrowing from both structures to offer the customer even more flexibility. If you do not wish to have an accruing cash value, then you don't have to. You can also stipulate whether you want the beneficiary to receive a lump sum payment, or monthly payments to boost income.
Unlike shorter term policies, long term life insurance does tend to be initially more expensive, though over the length of the term it may prove more cost effective than short term life insurance policies. Talking to your preferred insurance provider will give you a good idea of the options that are available out there. Then you can shop around and compare policies online, which will give you an even better idea of your options. The market is booming, so if you are looking for more flexibility in your life insurance, now is the time to look.
Shopping Around For Term Life Insurance
Comparison shopping for term life insurance coverage is just a click away. However, before you go around clicking on websites, there some basic information you should be prepared to provide to get preliminary quotes:
Aside from the obvious underwriting information such as your name, age and gender, you will have to provide more detailed information such as:
Weight: If your height weight ratio is not within certain limits (in other words you are overweight) it may affect your rate.
Do you smoke? Smokers pay a higher rate than non smokers. Rates can be as much as three times higher. However if you have quit smoking for at least a year prior to submitting your application, you may save some money.
Health: Companies want to know how much you exercise and what type of lifestyle you live. Do you participate in risky activities like racing, scuba diving, sky diving, rock climbing?
Type of work: Is your job hazardous? For example, if you work in underground mining, high-rise construction or work with explosives, you'll carry a higher rate.
Driving record If you've been convicted of reckless driving or DWI in the last 5 years will increase your rate.
Your familial history Have your parents or siblings had cancer or cardiovascular disease before the age of 60?
You may be tempted to tell the insurance company what they want to hear (even if it's not exactly the truth), but don't. Lying on your application may void your insurance coverage.
Once you've elicited quotes from several companies, compare your rates and make sure your insurance company will be around for the long haul. Check their AM Best rating. AM Best is a company that measures the financial stability/solvency of insurance companies. A very low quote from a financially unstable company won't do you a lot of good if they're not going to be around to pay the claim.
Think Term Life Insurance To Begin With
This is not the best deal for the person looking for a good policy. If they should become ill during the year with something serious, something terminal, then they will be considered uninsurable. Each year the potential policy holder must pass a medical exam. This means that the person who is ill would be unable to be insured again and so would be left with no death benefits for their family. Therefore, this term life insurance is not the best option.
A better option would be to buy annual renewable term life insurance. This type of policy can be started at any point in time as long as the policy holder passes the medical exam. The term for these policies is usually anywhere from ten to thirty years. The policy holder pays once a year and as the person gets older the cost of the premiums will increase.
The advantage to this type of insurance is that there is more chance that the policy holder will get benefit from a long term policy and so the death benefits will be paid to the family of the insured person. If the person becomes ill during the coverage period the insurance company cannot do anything to terminate this type of policy. With some companies this can go on until the policy holder is ninety five, but not with all companies.
At some point the insurance company will tell the policy holder that they have reached the end of a term life policy's availability. Instead they will have to move on to a permanent life policy. Some companies want this to occur when the person reaches seventy five. This type of policy allows the policy holder to convert their renewable policy into what is called a permanent policy. This does not require a medical assessment.
It usually does not pay out as much as the other types of policies but is less expensive than the others and still allows for a death benefit that will cover funeral costs and leave a little something over at the end. Insurance is a complicated process which needs to be undertaken carefully. The young family begins with term life insurance and then makes changes as the key money earners age.
How To Buy Term Life Insurance Online
So you've made the decision to get some life insurance, and you're looking to buy term life insurance online. Luckily the Internet is one of the best places to buy any form of insurance, and term life insurance is no different.
You can often get discounts on insurance online, because this is the preferred purchase method for both customers and insurance companies. Before you do purchase online however, do take some time to go over the small print of the policy, and make sure you are aware of everything involved.
Getting plenty of quotes is an excellent way to ensure that you get the best term life insurance deal, and there are plenty of websites that allow you to compare the rates of various policies. You should be careful to note any costs that might be hidden. The Internet is a great place to simplify things, but don't get carried away by what initially appears to be the cheapest deal. Insurance policies always have plenty of fine print, and conditions which you need to be aware of.
It is also a good idea to search for feedback about the company you are considering dealing with. Independent testimonials and word of mouth are excellent ways for gaging the reliability of a company, and how easy they are to deal with. You might be purchasing your insurance online, but at some point you may have to contact them more directly, so before you decide on a company, it is a good idea to call their assistance number and test out their customer service skills.
Buying life insurance is a big step, and purchasing it online is an excellent and convenient way to save money and time. There are many satisfied customers out there who have made similar purchases, so you are in good company. Making sure that you are comfortable with the policy and with the insurance company are important steps to making sure that you have a good experience buying term life insurance online.