Tips to Buy Life Insurance On line
If you are looking to buy life insurance on line, or get online life insurance quotes this blog post will provide some tips to help make the process easier for you.
Before Getting Online Life Insurance Quotes, the first step in figuring out how to buy life insurance online, is asking yourself:
How Much Life Insurance Do I Need?
One of the first decisions you will want to make before you buy life insurance online is deciding how much life insurance coverage to get. While there are many tools and calculators that you will find online to help you make a decision, I find that most of the time people have a good gut instinct on the amount that is right for them and their family. Make sure that you are comfortable with the number you pick, and that you discuss with your partner or spouse to make sure they are comfortable with it as well.
Once you decide on a number, you will want to think about how much you would like to spend on a life insurance policy. Pick a number that you are comfortable with spending. Don’t stretch too much, the last thing you want to do is cancel your policy after a few months because you can’t afford the monthly life insurance premium.
Types of Life Insurance You Can Buy
Once you have a number in mind and a monthly budget, you will want to get an idea of the type of life insurance policy that makes sense for you. Term Life Insurance lasts for a set amount of years, such as 10,15,20,25, or 30 years and is cheaper than Universal or Whole Life Insurance. If you are looking to get a cheap life insurance policy, term life insurance is the way to go.
If you decided that term life insurance makes most sense for you, as it does for many people, your next decision is to decide the length of the term life insurance policy. Most people under 50 years old usually pick 20 or 30 year term insurance, while many people older than 60 choose 20, 15, or 10 year term insurance. Pricing will be based on your health, coverage amount, and length of the term, and your budget might dictate which term length you choose.
If you decided that permanent life insurance is what you need, I suggest looking into a Guaranteed Universal Life Insurance policy, which is a lifetime policy with a guarantee that the policy will last your entire life. This is cheaper than whole life insurance and suits many people who would like some permanent life insurance coverage.
Return of Premium Life Insurance
If you are worried about outliving your term life insurance policy and “wasting” money, consider getting a Return of Premium term life policy. In this type of policy, if you outlive the term period, you get all your premiums back.
Which is the Best Life Insurance Company?
After deciding on the amount of coverage, the type of insurance, the length of the term you are getting, next comes the choice of choosing which life insurance company to apply with. There is not one life insurance company that is best for everyone. Working with an independent life insurance agency, like ChooseTerm.com allows you to shop all the major, high quality companies and find the life insurance company with the cheapest rate and we help you get online life insurance quotes. You want to make sure that the company is a high quality company. If you work with us, you will find we only work with well established, high quality companies – many that have been around for 50 or 100 years.
What if I have a Pre-Existing Health Condition?
If you have a specific health condition, such as asthma, diabetes, past heart issues, MS, cancer, or something else – the “Cheapest” company might not be the right one for you. Why? Because they may not approve you. At ChooseTerm.com, we are High Risk and Impaired Risk Life Insurance specialists. That means that we know which life insurance company is most likely to approve you based on your health situation. Matching you with the right company is essential to getting you approved for coverage.
If you haven’t figured out all of the tips in this article, and considering buying life insurance on line, the good news is that you don’t have to. At ChooseTerm.com you get the benefit of working with an online life insurance company and its founder who has been a licensed life insurance agent for over 12 years. If you call me I will help guide you through the process of making the right decisions for you and your family and make the process of buying life insurance online an easy one. I will also be there to answer questions before, during, and after you get a life insurance policy, so that you are fully satisfied with the process.
Fill out our quote request form below to get started with buying a life insurance policy and get online life insurance quotes.
Author: Liran Hirschkorn