How to Get Life Insurance Quotes
Having knowledge of basic life insurance products, your life insurance needs, an idea of budget for your insurance product and assessment of your overall health and risk factors will allow you to obtain online life insurance quotes with ease.
Generally a reputable on line Life Insurance Company will produce a stream of accurate quotes based on a range of questions congruent to the criteria guidelines for a particular insurance product and will provide further contact with an agent licensed to sell insurance products in your state.
What Type of Life Insurance Quote
A company that brokers all types of Life Insurance will provide viable quotes from many reputable companies for a service tailored to your needs. Whether your ideal product is a Term Life Insurance, Whole life, Universal Life, Variable Life (interest sensitive) or any combination of; getting the right quote for the right product or products to meet your needs is a simple as filling in a relatively short form to begin receiving quotes.
Exploring the Basics of Life Insurance Products
- Term Life: A life insurance policy that has a predetermined term and face value (death benefit) of your choosing. A term policy offers no cash value or accrued equity. The premiums are usually lower and can be adjusted for a variable face value. The policy ends at the end of term and a replacement like policy premium will adjusted by an age group. Term Life insurance is often used in new business start ups, home purchases or loans as a security interest.
- Permanent Life: Permanent Life is a combination of a face value death benefit pay out and a savings account with a locked premium amount. The base premium is based on age factor and will require set up fees but has overall tax advantage in that there is no tax on the monies saved until it is used.
- Whole Life: The whole life insurance premium has a face value (death benefit payout) and a savings or cash value equity portion but the insurance company determines the investment funds for the savings portion of the policy. There is possible management fees associated with whole life policies which can vary from company to company.
- Single Premium Life: Single premium life is exactly as the name entails a single onetime payment for insurance the premium amount is based on age or life expectancy, risk factors through health history and exam as well as occupation and lifestyle. Single Premium Life is considered an asset and can be used to collateralize loans or financial risk of the policy holder.
- Variable Universal Life Variable universal life insurance means that different features of the policy are variable. The face value of death benefit will vary but has a locked in minimum face value. The savings portion component of the policy premium investment is based on the desire of the policy holder. The option to use low risk investments will obviously have a lower gain return than that of a higher risk investment but also offers security. Variable universal life insurance is the hybrid of universal life insurance.
- Universal Life Universal life insurance as variable life and single pay life insurance are part of the whole life policy group. Universal Life is more flexible than whole life in that the policy holder determines the amount of premium that goes towards the actual insurance premium and what portion goes to the savings or investment component of the plan. There is a risk factor to be considered but the return or interest can be used to pay the insurance portion of the premiums.
Quote Comparisons
By shopping online for insurance quotes on various products by multiple companies one can make comparisons in obtaining the best value by needs met in correlation to premium cost and compare the financial ratings of the companies and their history of investment practices.
How Much Insurance Do I Need?
Simply put, you need as much insurance as you think you need but sometimes we can’t always afford what we need starting off so being creative between whole life and term life policies coupled into an insurance profile will ensure we have what we need.
Determine your immediate need and long term needs for family and /or business or debt ratio. Term insurance policies offer no cash value but are less expensive and will cover basic need with their face value. Smaller face value whole life policy types can be purchased to accommodate changing needs. For More Info: www.lifeinsurancequotes.com
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