Jun 19
Tip For Term Life Insurance
Term life insurance has become a very popular solution. Term insurance is very basic compared to whole life insurance and its "cash values". It's this simple: If you die during the term, the life insurance pays.
As a young adult, term life insurance is inexpensive. But each year rates go up. It is recommended by many to retain renewable term life insurance, so that if your health deteriorates you still have the option to renew your life insurance.
To find good, low rate term life insurance try Quick Quote or InsWeb.
Comments
Very useful information, especially if your shopping for life insurance:) Thank You.
Term life is very inexpensive, mostly due to the fact it's designed to become too expensive before you're most likely to need it. It's great for needs that FOR CERTAIN are going away, but it's the most expensive proposition for needs that aren't (hint: contrary to what you think now...you WILL still have a mortgage, your surviving spouse WILL need more income, you WON'T have saved enough for retirement yet, etc.)
Renewable insurance is fine, but consumers should look for *convertible* insurance instead. It does you no good to renew the insurance the year after the "level term" expires, because the premium jumps up so high that only a terminal patient would continue the premiums. Convertible insurance allows you to convert it to a permanent policy (which is why company quality is so important - even with term insurance) and keep it for WHEN you need it, not IF you need it.
I can get a car off of the Internet for $500. That doesn't mean I want my families' safety and future resting on its abilities...you get what you pay for, even in insurance.
- a *former* "buy term and invest the difference" disciple
Just remember what insurance is for. If you don't have someone dependant on your income, then in all likelihood you don't need life insurance. Life insurance can get quite emotional, but it's best to look at your true needs when deciding whether you need it in the first place and then exactly what type.
Read and get educated with real life situations and life insurance issues. See you at readronaldangert247.bl.../
geocities.com/texasins.../
for what makes a good agent