4 Ways to Get The Best Life Quotes
Finding the Best Life Quotes for your family or yourself can be a real pain in the neck.
I know. I’ve had to shop for life insurance myself…
I got into insurance because I was tired of people being afraid of the insurance guy and getting taken advantage of. Sadly, I found out that folks were afraid of me too, not because of my sales tactics but because of the other insurance agents that may have burned them.
It doesn’t have to be this way
Insurance is a tricky little beast. Or at least it seems that way. There are so many rules and laws to know.
So, whether you are looking for child term life insurance rates or a group insurance life term policy for your employees. The options and confusion are nearly endless.
So how do you keep your head from spinning right off your shoulders? How can you know which policies will be the best fit for you?
A Few simple keys to help you in making a decision:
- If you have no assets and rent an apartment you may want to consider a whole life plan. Whole life insurance is considered an asset -although not a very high yielding one. But it can provide a long term death benefit while also building interest on the money that is put into the plan. Any money invested is not lost as you can cancel the plan at any time. But if cancellation occurs the death benefit is gone, same as any other life policy. It is also possible to borrow against a whole life plan and then pay it back over the course of 12 or 24 months.
- Otherwise, you should probably go with a Term Life Ins quote. Term life insurance will cover you for a pre determined length of time. It is the most affordable type of life insurance. It allows you to cover your life during your bread earning years while a loss of life would be most damaging to a family. Term life insurance plans are substantially less expensive than a whole life plan.
- Group term life or group insurance life term is a good way to ADD to the life insurance coverage you already have. It is not a good stand alone option. The reason life insurance through an employer is only good as an add-on is this; what happens if you cease to be an employee of that company? Then what? If 20 years go by and you lose your job you also lose your life insurance except now you are 20 years older and your rates will 4 times as much. (or more)
- Universal Life Products are a modified Whole life insurance products. These can become very complicated and this article will not go into detail here. Basically, if they make sense to you they can be a good deal. If you are not comfortable with the explanation your agent gives you don’t go here.
Summary – The Best Life Quotes:
Get a policy that makes the most sense for you. You do not want to just buy what your friends and family are buying because their needs may be completely different than yours.
A good rule of thumb is to base your life insurance needs by multiplying your income by a factor of 5 to 10. But this is just a guess. Use your best judgment after learning all you can.
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