Do you need a life insurance policy with all the bells and whistles? Probably not. In many cases, you just need pure death benefit protection via term insurance. We help you shop the market and find the term policy that fits your needs. In the situation where lifetime coverage is needed, we can find you the right policy at the lowest possible cost.
These are the first couple questions you might ask when searching life insurance options, though, the answers depend on your specific situation. When others depend on you financially (now and in the future), you have a responsibility to protect those you love most. In order to find the right answers and options, we recommend asking yourself this question first...
If you seriously think about this question and discuss with your spouse or family members, you will be much closer to making an informed decision about your life insurance. Then you can properly answer the initial questions.
In the event of your premature death, are you hoping to replace your income for a period of time so your family can easily meet monthly financial obligations? Are you hoping your family can pay off all debts? Are you hoping to create the funds to pay for college education? To meet your goals...you can do a rough calculation on your own, consult with an independent insurance broker (or your financial planner), or use life insurance calculators on the web. Some use a general rule of thumb of 10 times your annual income to determine the appropriate coverage amount. If you prefer to research on your own, use the non-profit organization, Life Happens (www.lifehappens.org). There are a multitude of resources, including a life insurance calculator, on its website.
Typical term insurance policies have a level premium for 10, 15, 20, or even 30yrs. 20-year level term policies are commonly chosen, but you need to decide how long your life insurance need will truly last. The shorter the term period, the lower the premium, but be aware that if your term period ends and you still need the coverage, your premium can increase dramatically (only after the level term period ends). So be sure to obtain the right amount of coverage from the get-go to avoid re-applying for coverage at an older age when the premium will be higher and health conditions may increase the cost or cause you to be declined for coverage.
This is where we strive to differentiating ourselves from others. We combine the ease of online life insurance quoting with a local, personal touch. No spin...just a clear view of the insurance market. If you have a relationship with a financial planning firm, you can use them as a complementary resource. Again, you can reference www.lifehappens.org for general information about life insurance.
We are able to shop the insurance market for you, and find the insurance carriers that are most appropriate, based on your height/weight, health history, and other factors. For example, some carriers price term life insurance policies better at certain ages, coverage amounts, and coverage periods. Also, some will allow a non-smoker rating for those who chew tobacco or smoke cigars. We have a very good pulse of the life insurance market and can find you the best deal possible.