Life Insurance without a Health Examination
Applying for life insurance can be a time consuming process when you have to go for a full health examination as part of your application. It is possible to obtain term life insurance up to a high value without having to go for an examination, by applying online. Different plans for different terms (mostly in ten year intervals) can be obtained. With an approval, you could be eligible for same-day coverage.
The Difference between Term Life Insurance and Permanent
Term life insurance provides the insured with insurance which will pay dependants should the holder of the policy die during the period covered by the term (this can be anything from ten to thirty years). A term plan is useful for those who wish to have mid-term coverage at a low initial cost. Permanent life insurance continues as long as payments continue, and cash values may build up for the duration that the policy is held.
Plan Ahead with Term Life Insurance
It is always a good idea to plan ahead and purchase life insurance long before you need it. This is especially true for permanent life insurance, where the cash value of the plan accumulates, but even with term life insurance, not putting off investing in insurance will ensure that there is a safety net for those who are dependent on you financially if you should die unexpectedly due to illness or accident.
When Choosing Insurance, Life Insurance Payments can be Decreased
When you choose insurance, life insurance premiums may be lower if you select an option such as paying for your policy annually instead of monthly – insurance providers offer all kinds of incentives and kickbacks which can make life insurance more affordable. You can easily shop around and compare quotes online, so that you choose the plan which is best for you.
Free Life Insurance Quotes
Free life insurance quotes can be obtained online, and can make it easier to determine which plan will be best for your needs. A quick online application process can also make it easy to obtain a policy quickly. You will need to supply some personal information, such as your age and gender, as these are factors that are taken into account in calculating your life expectancy and thus your life insurance premiums.
Advice on Applying for Life Insurance
There are certain lifestyle changes which can help to ensure that you obtain lower life insurance premiums. Smoking guarantees that you will pay higher premiums, but if you have stopped smoking and more than a year has passed, you can still acquire the same rates as non-smokers. While you do not need to take a physical exam for term life insurance, you will need to for permanent insurance and ensuring you are fit can ensure lower premiums.
Converting Term Life Insurance to Permanent Insurance
It is possible to convert term life insurance to a permanent insurance policy; most insurance providers offer a conversion period when this can be performed without any medical prerequisites. If the initial term which you chose insurance for is set to expire and you are now in a better financial position, it is wise to convert your policy or you may have to get a whole new policy.
Term Life Insurance in Combination with Permanent Insurance
Some people choose to combine a term life insurance policy with a permanent policy, as the combination of these two types of policies provides extensive financial support to dependents in the event of the policy holder’s death. This can be a wise choice, as with a permanent policy the cash value is not affected by tax, while a term policy can also provide additional money at a low monthly or yearly cost.
Insurance for Life with the Possibility of Withdrawing Funds
A permanent life insurance policy can offer insurance for life with the possibility of withdrawing funds so that money is available in times of need. This is usually not permitted unless the policy has existed for a number of years, and the set number of years may be different for different insurance providers.
Life Insurance Quotes with no Obligations
When you apply for life insurance quotes online that are provided for free, you are under no obligation to purchase the policy for which you have been quoted a premium. Thus it is possible to obtain different quotes and compare multiple offers in order to find a plan which suits your needs and is also within your budget. Online calculator tools for estimating the cost of child rearing and other expenses which may need to be considered can be useful.
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