Do You Need Life Insurance Rate Quotes?

Life insuranceDo You Need Life Insurance?

Life insurance is an important part of your financial planning. It provides protection and security for your family and ensures that they can continue to live in the lifestyle they’re accustomed to and that they can remain in the home they love. Many employers provide a level of life insurance which certainly provides some security, but what if you change jobs suddenly, or if you should suddenly become unemployed? To avoid such risks and provide stability for your dependents purchasing life insurance is simply the prudent course of action to take for your family.

Life insurance provides financial security for many purposes:

  • Income continuation – married couples with two incomes may suffer a financial burden if one should pass away unexpectedly. Life insurance can provide the extra income that allows the surviving spouse and any children to avoid income shortages.
  • Mortgage protection – in the event one spouse should die unexpectedly, could your dependents afford to make the payments on your home? One purpose of a life insurance policy is to continue making mortgage payments or pay it off entirely relieving your survivors of such concerns.
  • Higher education – if you have children that you want to be sure have the opportunity for a college education, life insurance is one way to fund those expenses in the event you pass away before they reach college age.
  • Funeral expenses – you don’t want to saddle your dependents with the considerable expense of your funeral and burial if you die prematurely. Many of those who purchase life insurance consider such costs to be a primary reason for the investment.


Types of Life Insurance Available

There are two main categories of life insurance available to consumers: term and whole life. Term coverage remains in force during the period established for the policy – often a period of 10, 20, or 30 years. Term insurance provides no cash value, but pays the policy value to the named beneficiary in the event of your demise.

Whole or universal life is generally more expensive from a premium standpoint, but it has the advantage of accumulating cash value and even paying dividends that can increase the death benefit. Whole life policies can also be converted to cash should you decide to terminate the policy. Depending on your specific needs for coverage you may also include additional options such as accidental death benefits.

When requesting an online insurance rate quote there will be several pertinent elements of information the prospective provider will need:

  • Your age and gender
  • Medical history (this may include any medications you take on a regular basis)
  • Personal habits (such as smoker or non-smoker)
  • Family medical history (incidents of such illnesses as heart disease, diabetes, or cancer)
  • Any pertinent risk factors (hazardous occupation or frequent travel to regions of political unrest)

The type of policy and value you request could also require additional information such as actual copies of your medical records or the results of a physical examination. Driving records may even be requested to ensure you have not been convicted of driving in an impaired state.

Avoiding Missteps in Purchasing Life Insurance

Life insurance coverage is critical to the financial stability and quality of life for your survivors making it important to be an educated consumer when selecting your policies and coverage. Today’s online resources provide a wealth of information on types of insurance, comparisons of companies providing coverage in your area, and most importantly allow you to request life insurance quotes by zip code, so that you know the rates provided apply to your region.

Not all insurance providers are licensed to operate in all states, so requesting rate quotes by zip code is a quick and efficient way to shop for life insurance. Be certain to provide accurate and honest information when making requests for quotes to obtain accurate information from the providers.

Review the information provided by prospective insurers carefully to make sure the coverage they offer meets your specific needs. There may be special cases cited in their policies that disallow certain health conditions that pertain to you, ruling that policy out for your purposes.

Don’t provide online sites with confidential information such as bank account, credit card, or social security numbers. A reputable insurer does not need that kind of information to provide you with a rate quote for your desired policy.

Rate Your Potential Life Insurance Provider

Once you’ve done enough shopping to have at least two or three rates from potential insurers it’s time for you to rate and compare them. Not all insurers provide the same level of service and focus on their policy holders. You need to make sure they are financially stable and free from a history of complaints or other consumer-related issues.

There are multiple resources you can draw from to gain valuable insight into a company’s credibility and levels of service. One method is to contact your local Better Business Bureau for any complaints that have been reported. Internet sites are also at your disposal to investigate the company’s financial standing and reputation including Consumer Reports and such well-known consumer-related analysts as J.D. Power.

Your state’s insurance department is another resource you should contact before signing a policy. They are the governing organization that licenses both companies and individual agents in your area and monitors them against requirements for conduct and fair practices. They also conduct any investigations initiated by complaints of policy holders and can inform you of repeat offenders or companies currently being investigated.

Life Insurance is a Necessity

When your family relies on your presence and income to sustain their quality of life and future well-being it’s your responsibility to provide them with such peace of mind and financial security. With the ease of obtaining life insurance rate quotes online and availability of essential information there is no reason to delay. Get started now in providing your family with the coverage that will help you protect them and their financial future.

For a quick and easy method of obtaining life insurance rate quotes by zip code visit the site. You will find an efficient way to obtain coverage tailored to your personal needs from the convenience of your office, home, or mobile device.

Leave a Reply

Your email address will not be published. Required fields are marked *