If you are wondering whether or not you should buy life insurance, ask yourself the following questions:

Have you recently… gotten married?

                                    … increased your debt?

                                          … had a baby?

Would your death leave your loved ones in a financial bind?

If you answer “yes” to any of these questions, it may be time to get serious about shopping for life insurance.  Life insurance can offer you and your loved ones peace of mind, ensuring that your debts or loved ones are taken care of in the event of your death. It is quick and easy to get a quote and to see if you qualify.

What is Term Life Insurance and how do I qualify?

Term life insurance is pure insurance protection that pays a predetermined sum if you were to die during a specified period of time.  Upon your death, term insurance would pay the face value of the policy to your loved ones (your named beneficiary).  All premiums paid are used to cover the cost of this insurance protection.  Because term insurance builds no cash value, some experts suggest that you buy term insurance and save the difference between the cost of term and permanent insurance.  They further suggest that you put the money saved in an investment which will usually earn a higher rate of return and interest than that guaranteed on the savings portion of permanent insurance.  According to these experts, if you do this, term insurance will be the best buy.

A term policy can be five, ten, twenty years or longer.  But unless renewed the insurance coverage ends when the term expires.  Term life insurance is sometimes referred to as “temporary insurance coverage”.  It is the least expensive coverage to acquire. For example:  A healthy 35 year-old (non-smoker) can usually obtain a 20-year level premium policy with a $250,000 face value, for as little as $15-$20 per month.

To determine if you qualify, most life-insurance policies require some type of medical exam to check for high cholesterol and blood-sugar levels.  There will also be questions about such things as your age, height, weight, medical/family history, smoking, occupation and hobbies; all of which can affect the premium on a policy.

Some of the main characteristics of term life insurance:

      Fixed terms up to 30 years

      Low cost

      Guaranteed rates

      Sometimes convertible to permanent life insurance

Hold on now! What is this permanent life insurance?

Permanent life insurance provides lifetime insurance protection (does not expire), but the premiums must be paid on time and usually for the rest of your life.  There are several types of permanent life insurance – whole, variable, universal, or a combination of these.  Most of these types of policies have some advantages such as forced savings, tax-deferred income, the ability to borrow, extended terms, paid-up additions and investment potential.  These advantages, in turn, cause premiums to be higher than those of term policies and often the premiums are only guaranteed (if at all) for a short time.

Some of the main characteristics of permanent life insurance:

      Permanent insurance protection

      More expensive to own

      Builds cash value

      Loans are permitted against the policy

It is very easy to get a quote on life insurance, just click here and you will be directed to the webpage to provide the necessary information for the quote.   One of our representatives will contact you within 24 hours (except on weekends) to talk to you further about your life insurance needs.

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