Compare Cheap Life Insurance Quotes Online
For the majority of people, shopping around for and collecting life insurance quotes is not only smart - it's an absolute necessity. This holds especially true for people with young children, disabled dependents or family members who rely on them to get by in life. If you don't think you need to worry about life insurance quotes, ask yourself this one simple question: if you were to die tomorrow, how would your debts and the loss of your income impact your loved ones? If it would mean major hardship for a single one of them, then you need to make collecting life insurance quotes one of your number one priorities.
Why Do You Need Life Insurance?There are many very compelling reasons for needing life insurance. Below, we highlight a few of the most common and persuasive reasons that the majority of people end up shopping around for life insurance quotes.
- You Have Children - Let's face it: our kids rely on us long after they leave home. Whether your children are still quite young, college aged - or even older - you undoubtedly want to continue to be a person they can rely upon. Your responsibility as a parent is a lifelong commitment, which is why it is imperative to consider life insurance quotes a major part of your parental duties. Even after you're gone, it is comforting to know that your kids can still depend on you.
- You Have Dependents Who Rely On You - If you were the major breadwinner in your family, then you probably have a spouse who would be out to sea if you were gone tomorrow. The pride that you most likely take in being a reliable provider can be greatly diminished if you think about your loved ones scrambling to get by in the wake of your death. Life insurance quotes are a proactive way to protect the ones who depend on you the most.
- You Don't Want To Leave A Mess Behind - No matter how careful you are with your finances, your death will saddle your family with at least one major expense: the cost of your funeral and arrangements. Look at shopping for life insurance quotes as a way to guarantee that you won't leave your loved ones with mountains of bills and the need to take out loans to pay for your funeral expenses.
Factors Affecting Your Life Insurance QuotesA handful of different things play a major part in how high your life insurance quotes will be. These include:
- Your Gender - Men pay more for their life insurance than women. That's because they have shorter life expentencies and because there are more risk factors associated with males.
- Your Age - This is a pretty obvious point, but the older you are when you shop for life insurance quotes, the higher they will be. Up until about age fifty, you will pay much less; after age fifty, life insurance quotes rise dramatically with every passing year.
- Your Health - When you receive life insurance quotes and have narrowed down your search, the insurance agency will need to know more about your health. People with low blood pressure and low cholesterol - and those who aren't overweight - pay less than those who are overweight and have high blood pressure and bad cholesterol. The frequency with which you visit the doctor for regular check ups is also weighed very heavily and plays a big part in the kinds of life insurance quotes you will receive.
Kinds Of Life Insurance QuotesThere are a couple of different popular options when it comes to life insurance policies; familiarize yourself with them before looking for life insurance quotes in order to get the kind of coverage you need.
- Term life insurance - This is, by far, the most popular kind of life insurance. Under this kind of policy, you are covered under the period - or term - for which you pay a monthly premium. You pay less the younger you are. The term is determined at the onset of the policy, and can be anywhere from one year to thirty years. Term life insurance quotes are the most common kinds. If the policy ends without your death, you receive no money.
- Whole life insurance - With whole life insurance, you pay more early in the policy. Unlike term life insurance, it is a lifelong policy. Whole life insurance includes an investment component; some of the money you pay is invested in bonds, stocks or money market accounts. This type of policy makes the most sense for older or very wealthy individuals.
- Universal life insurance - This is a type of whole life insurance; it includes a tax-deferred savings plan instead of investments in various financial products.
- Variable life insurance - With a variable life insurance policy, its cash value goes up - or down - depending on how well its associated investments do. You stand to end up with a sizable payoff for your beneficiaries - or a much smaller one than you'd bargained on.