Life insurance rate quotes are provided as a tool to help consumers decide what type of life insurance and how much life insurance coverage is best for their personal financial needs. All adults and families should have life insurance, but the amount of insurance that is necessary depends on your debts, liabilities, and expenses, including mortgage payments, credit cards, loans, and education costs. By comparing the cost of different types of life insurance and death benefits using life insurance rate quotes, consumers can find cheap life insurance for their needs. Affordable life insurance rates are not difficult to find; consumers simply need to get and compare life insurance quotes to find the best, low cost policy.
Who Should Have Life Insurance?
While most people know that wage earners with financial dependents need life insurance, many do not insure spouses who provide essential services in the home. If your spouse or significant other were no longer around, someone would have to be hired to perform their services and that could be expensive. Single individuals with debts like mortgages, student loans, business or car loans, and medical or credit card bills should also have life insurance to cover their financial obligations and final expenses so family members will not be left with the burden of their liabilities. If you are not sure you can afford life insurance for your family, consider getting free, instant life insurance rate quotes to compare coverage and insurance companies and find the cheap life insurance rates.
Do Children Need Life Insurance?
It is usually wise to have a small life insurance policy for a child, but some life insurance for children also offer lifelong benefits to children. A whole life insurance policy is permanent and if it is purchased for a child, the child will have guaranteed low life insurance rates for their entire lives. Child life insurance can also provide a nest egg for your kids since it builds cash value over time, and children can redeem the cash value when they reach their majority to help with educational expenses, a car loan or a down payment on a house. From our customer’s experiences, most applicants can get cheap life insurance for children with rates as little as $20/month, depending on the amount of the death benefit you choose.
How Much Life Insurance Do I Need?
As a rule, wage earners should carry life insurance benefits of 5 to 10 times their annual salary depending on the number of dependents they have and the amount of their outstanding debt, taking into consideration mortgage payments, business or personal loans, credit card bills, living expenses, medical bills, and funeral costs. Life insurance rate quotes can help consumers find a death benefit amount they can comfortably afford. Even if an individual cannot afford all the life insurance he or she needs, buying as much as possible will help assure a family’s financial future. When your income rises in the future, applicants can buy more life insurance coverage through other carriers or policies, diversifying their risk.
Getting Life Insurance Rate Quotes
It is possible to get multiple life insurance rate quotes from top insurance companies. To request a life insurance quote, an individual must enter their zip code and complete a short form asking for information like age, gender, occupation and general health. Consumers can compare different life insurance types and death benefits to find one that offers rates that are affordable.
Life insurance quotes online are free and available instantly, and the consumer can make changes to his or her life insurance rate quote and ask for as many additional quotes as desired, all from the convenient of their home without customer representatives, agents, or brokers.
Life Insurance Online
Since agents usually charge a commission which is added to the cost of life insurance, consumers can usually save money by comparing and buying life insurance online. Once life insurance rate quotes have been compared and a policy has been selected, the individual can complete the application for insurance with no obligation.
Most life insurance companies require that applicants undergo a medical exam before the policy is underwritten or issued, but the rest of the process can be completed online, at your convenience.
Life Insurance Quotes
Consumers can use life insurance rate quotes to determine the type and amount of life insurance that is most affordable for them. Life insurance is a vital component of financial planning and provides security and peace of mind for the policyholder and his or her family.