Life insurance is a way for individuals to provide for family members in the event of their death. Whether the insured is a wage earner, stay-at-home parent, single adult, or a senior, they can relieve their family of financial concerns with a life insurance policy to cover their financial obligations, including final expenses, mortgage payments, living expenses, education, or medical bills.
Getting quick life insurance quotes with MyLifeInsuranceQuotes101 is an easy way to find the type of life insurance that best meets your budget and financial needs. We offer multiple free, instant life insurance quotes for term, whole, universal, and variable life insurance, allowing you to compare rates, coverage, and companies to find the best policy for you and your family.
The Right Amount of Benefits
The face amount of a life insurance policy should be enough to cover any financial obligations an individual may leave behind. Retirees only need enough coverage to pay funeral and final expenses and any final bills or debts, like utilities, credit cards, mortgage payments, or business/personal loans.
On the other hand, wage earners and the primary breadwinner should consider amounts of 5 to 10 times their annual income to provide enough financial support for spouses, children, and other beneficiaries. For stay at home parents, the amount of the policy should allow survivors enough to hire someone to perform essential services like child care.
Learn more about determining how much life insurance you need, so when you compare insurance quotes, you know exactly which policies and amounts of coverage to get online quotes for. A quick quote can automatically tell you if a death benefit or type of policy is within your budget and affordable.
What Type of Life Insurance Is Best?
There are two basic, popular types of life insurance – term and permanent life insurance. Term life is the most affordable, cheapest type of coverage and pays out a death benefit if the insured dies within the policy term which may be 5, 10, 20, or 30 years. At the end of the term, the policy must be renewed, usually at a higher rate due to higher risks associated with older applicants.
Whole and universal life insurance, which are types of permanent policies, are not as cheap as term life, but offer a savings and/or investment feature on top of the death benefit that can be used as a tool in financial planning. Quick life insurance quotes can get you instant, free term vs. whole comparisons so you may find the best, affordable policies for your family’s needs.
Compare Quotes For Different Death Benefits
If a quick life insurance quote shows a premium that is too expensive for your current budget, consumers can get additional, instant life insurance quotes for lower amounts. It is better to have some insurance, even if it is less than the recommended amount, than no coverage at all. There is no limit on the number of online quotes a consumer can request and there is never any cost or obligation, so anyone can find a monthly premium they can easily afford.
Different Terms May Have Different Rates
The rate on a 30 year term life insurance policy for a 25 year old man is likely to be higher than the rate for a 5 or 10 year renewable term policy. While it may be cheaper in the long term to have coverage for 30 years, a 5 or 10 year policy with affordable rates may be a better fit for your current budget and income level.
A quick insurance quote would allow you to instantly do some market research, compare the rates for different term period and if a 30 year term life policy isn’t right for you, quickly be able to compare quotes on a 20 year or 10 year policy. As a consumer, instant term life quotes offers the power to do a lot of comparison shopping before you purchase the best policy.
Where To Find An Affordable Life Insurance Quote
By entering your zip code, you can get a free, quick insurance quote. We offer an unlimited number of online quotes from many of the best life insurance companies in the U.S., all competing for your business.
Applicants will have to answer some basic screening questions about their age, address, weight, height, and basic health questions, and we will either calculate the quotes instantly or send the requested quote to your email address. Keep in mind that life insurance quotes online are estimates, and actual rates may be slightly higher or lower.
Saving Money – Comparing Payment Options
It may be cheaper to pay premiums on a quarterly or annual basis than it is to make monthly payments. A quick life insurance quote allows consumers to compare the annual, quarterly and monthly rates for the policy they want to find the payment options that offer the lowest cost. Monthly payments are convenient and larger quarterly or annual payments may not be practical for everyone, but comparing different payment options can save money.
Online quotes also allow consumers to find discounts. Life insurance companies will automatically search for discounts you may qualify for during a quick online quote. Regular exercise, not smoking, and a clean medical history are all factors that may get you a discount.
Making Smart Life Insurance Decisions
By getting a life insurance quote online, individuals may find that the protection they need and want is within their reach. Even people who have life insurance can use this convenient tool to find out if they are paying more than they should for their current policy. Every insurance company offers different rates and discounts on similar policies and individuals may be able to save a substantial amount on their life insurance premiums with life insurance quote comparisons.
Learning About Life Insurance
In addition to offering comparison online quotes for life insurance, this website provides detailed information about the different types of financial products that are available. We have researched and reviewed dozens of insurance policies. Education helps consumers make informed decisions about the policy which best meets their needs.
Life insurance is vital to the financial sustainability of families if a wage earner dies, so it is important to know which policies offer the best protection for survivors, so you can maximize your premiums and get the largest death benefit and coverage you can comfortably afford.
It is easy to get a quick life insurance quote online to compare the costs of policies, coverage, and companies. Whether individuals already have a policy or are entering the market for the first time, consumers can save money when they compare insurance quotes.