Considering Life Insurance?

Written by Mark Fightmaster on February 10, 2010 & Posted in Life Insurance

You have decided that the time has come to purchase life insurance, a responsible move to ensure that your loved ones remain financially secure should anything happen to you. The good news is that there are plenty of resources to help you find the life insurance that is best for you.

Before you begin gathering quotes you should ask yourself two questions:

  1. How much insurance do I need?
  2. Which policy type best fits my insurance goals?

So, How Much Insurance Do You Need?

Determining how much life insurance you want to purchase can be difficult. For many, the main purpose of life insurance is income replacement. The face amount, the amount your beneficiaries receive in the event of your death, should take into consideration your income, your standard of living, and any long-term expenses, such as mortgage payments and college tuition.

Life Insurance Policy Types

There are two main types of life insurance policies: term life and whole life.

Whole life insurance provides insurance protections for your entire life and builds cash value (a savings component). The savings component, and the fact that the insurance is supposed to be permanent, causes this policy to be the more expensive of the two main policy types.

Term life insurance is the most popular, and the cheapest life insurance. Term life insurance provides death benefit protection, without the savings, for a set period of time (typically 10 to 30 years).

There are many reasons to choose either of these policy types, but you should select the policy that best fits your needs.

Gather Life Insurance Quotes

Once you have determined how much life insurance you need, as well as the type of policy you want, you should begin gathering quotes. You can start by entering your information into the form above.

Comparison shop and figure out which company has the best price for the type of policy you want. Make sure to investigate your options in order to find the best policy for your unique situation.

Remember, purchasing life insurance is an important decisions for you and your family. Begin looking for insurance by entering your personal information in the form above.

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