So you've decided to take out life insurance. Well, you made a good decision! If you have dependents, you know you have to provide for them long after you're gone. Buying life insurance shouldn't be a budget issue either. Take a look at the following options that can help you save a lot of time!
<b>Shop online:</b> There are several companies that will provide you with free life insurance quotes directly online. By entering your personal information, the amount of insurance coverage desired and the policy conditions, you will receive sufficient quote information in a few moments. Naturally, you'll want to speak to an agent at some point, but at least you'll get a pretty good ballpark figure to consider. Here are some good sites to visit: Insure.com; SelectQuote.com; ReliaQuote.com, IntelliQuote.com; and InsWeb.com. There are many more, so do some comparison shopping.
<b>Types of life insurance:</b> you can choose from four types of life insurance plans: term life insurance, whole life insurance, universal life insurance, and life insurance. variable universal life insurance.
<u>Term life insurance</u> is the most affordable because it allows you to lock in a fixed rate for the life of the policy [usually 10 or 20 years], but it has no cash accumulation. So the only way to pay is if you die!
<u>Whole Life</u> offers policyholders lifetime coverage, guaranteed level premiums, tax-deferred cash value accumulation. In other words, you can borrow against the policy if you need the money.
<u>Universal Life</u> offers policyholders lifetime coverage, flexible premiums and death benefits, tax-deferred cash value accumulation. The rates are flexible.
<u>Variable Universal Life</u> offers lifetime coverage, flexible premiums and death benefits, tax-deferred cash value accumulation, a selection of investment options. The rates are flexible.
<b>Contact an Agent:</b> Once you have determined which type of insurance is best for you and your family, contact an agent for further advice. If you received an acceptable life insurance quote online, follow it to allow an agent to contact you personally. This person will review your policy and discuss with you the different types of companies that offer coverage. If you are satisfied and wish to proceed further, the agent will order a full medical examination which can be performed from the comfort of your home or office at no cost to you! About four to six weeks later results will be known and if all goes well, coverage will begin almost immediately afterwards. At no time are you obligated to accept coverage until you have signed a contract.
<b>More Savings:</b> Want to save even more money? Pay the premium in one go. Monthly or quarterly payments usually incur a surcharge. By paying the full premium up front, you can save around 5%.
Caring for your family members after you die is one of the most important reasons to include life insurance in your financial planning. You can receive your free life insurance quote by purchasing online today; do not be too long !
(c)2005; Matthew C Keegan, LLC
