Life Insurance Rate Comparison

Finding the best life insurance policy at the most affordable price is important to most consumers. A life insurance rate comparison allows individuals to compare the rates and policies of different insurance companies for the same coverage. Life insurance quotes also help consumers compare rates of different types of policies so they can choose the life policy which best meets their current and future needs.

Types of Life Insurance

The two basic types of life insurance are permanent (whole and universal life) and temporary (term life). Since permanent life insurance guarantees the payment of a death benefit regardless of when the insured person dies, the life insurance rates for whole and universal policies are not as cheap as term life insurance.

Temporary, or term, life insurance only pays the death benefit if the insured dies within the specified term of the policy which is usually 5, 10, 20, or 30 years, and since payment of the death benefit is not guaranteed, term life insurance rates are cheaper.

Compare Life Insurance Policies

Before selecting a life insurance policy, it is important to understand all the pros and cons of each type of policy. Term life insurance policies are available with a renewal option, an option to convert the policy to whole life insurance and even as an adjustable policy with a death benefit that can be changed as the policyholder’s circumstances change. Whole life insurance has a number of payment options like limited payments which are made for a specified period of time when the policy becomes permanent.

Life Insurance Quote Comparison

A life insurance rate comparison for different types of policies with the same death benefit will help consumers decide which type of policy will provide the coverage they want and can afford. While some of the features of more expensive policies are attractive, it is paramount that the insured policyholder buys the amount of coverage he or she needs.

The primary purpose of life insurance is to provide for financial dependents who would lose their support if the insured person died. For this reason, the cheapest life insurance rate doesn’t necessarily offer the best coverage, and consumers need to make comparisons of policies, terms, and companies before deciding who to buy from.

Compare Life Insurance Rates provides our users free, instant life insurance quotes online from the best insurance carriers. We make it easy to do a life insurance rate comparison when viewing the rates of different companies in one place.

Consumers can also check the ranking of different life insurance providers by criteria like financial stability and customer service. Comparing price and quality helps consumers get the best value in their life insurance, which is defined as buying a policy that offers the best coverage and the cheapest rates.

Apply For Life Insurance Online

Once an individual has completed a life insurance rate comparison, he or she can complete a policy application online. In most instances, the applicant will have to undergo a physical examination with a doctor provided by the insurance company before the policy will be issued, but the rest of the application process can be conveniently completed at home. Buying life insurance online can offer savings over purchasing it from an agent, since the agent gets a commission which is added to the policyholder’s payments.

Comparing the life insurance rates of different types of policies and insurance companies helps consumers save money and get the best life insurance policy for their needs. Since life insurance rates are largely based on the age of the insured person at the time the policy is issued, the faster a consumer does a life insurance rate comparison, the more money he or she will be able to save.