Compare Life Insurance Rates
Guide by Guide4Home
By obtaining a life insurance quote online, you can quickly build up a list of quotes from authorized life insurance companies and then start your side-by-side comparison. In fact, your online life insurance query will typically result not only in a life insurance quote but will likely will carry a wealth of information to qualify your decision. Your life insurance quote online will generally describe the feature and pricing for term life insurance. In addition to a term life insurance quote, you may designate via links to online life insurance affiliates a quote for whole life insurance or perhaps variable life insurance.
Individual life insurance firms will have a host web site for you to investigate. You can "plug in" a request for life insurance rates. The web site will process your request and then produce a pop-up screen with a title such as "term life insurance", or "whole life insurance" or perhaps "universal life insurance". You select your life insurance product, plug in your age health and other factors and the host site will list their lowest cost term life insurance for you to select.
Life insurance prospecting has been made fast simple and smart by the internet. Online life insurance sales are contributing significantly to the overall revenues of life insurance firms world wide. Since the internet operates as a "free" service, all you have to do is go online in order to obtain a free term life insurance quote from any number of the 2000 firms licensed to sell life insurance.
When looking at a life insurance policy don't forget to enquire with your employer in order to determine if there's a sponsored whole life insurance program. This form of whole life insurance coverage places together into a pool good poor and average risk persons. Because there's greater purchasing economy in the larger pool of applicants, you get the benefit of lowered premium costs on your individual portion of the plan. Also, you may get coverage even without providing evidence of insurability. Such group plans for whole life insurance coverage are administered professionally on your behalf and are paid for out of payroll deductions. In many cases these employer plans for whole life insurance coverage can be taken to a new job so long as you maintain payments.
Although you may initially decide that term life insurance fits your needs better than whole life insurance, don't forget that life moves on. You change. And your insurance needs may change too. Imagine that you've just married, or just gone through a divorce. Or your child or a grandchild has just been born. With term life insurance you have to die in order to win. However, death benefits are generally free from income tax. Again recall that premiums tend to rise as you become older and there's no cash value element in term life insurance as with whole life insurance, therefore you miss tax-deferred cash values over the life of the life insurance policy.
If your name changes in the future such as with a marriage or a divorce, then you'll have to send a signed form from your life insurance company along with your written request reflecting desired changes in titling to your term life insurance policy. You might also have to include a copy of your marriage certificate or other court document.
In looking at a term life insurance policy for instance, you should understand that trading or replacing your policy at some future date is a serious decision. Even when discussing a trade or replacement strategy with the same life insurance company, you'll face high initial costs during the first years of the term life insurance policy. The life insurance firms have a contestability period where they can refuse to pay a claim or death benefits if they believe that applicant information was inaccurate. So, you can always increase your insurance coverage, however you might better consider keeping your old policy and then simply buying a new or supplemental term life insurance policy or whole life insurance policy based on your needs. Remember that your old policy was purchased when you were younger, therefore the rates will likely be lower.