Life Insurance Quote For Permanent Life and Term Life Insurance
If you have been reluctant to seek out life insurance because you simply are not sure of the process, there are some steps you can take to make it easier. You can take time to do some research about a term life insurance plan, learn the terms associated with life insurance, and take some important tips about shopping for insurance rates.
With a little preparation, you may find that buying insurance is not nearly as frightening as you’d expected.
As you are looking for a great insurance quote, one of the first things you have to do is to be sure you are comparing apples with apples, and to search for an insurance quote that’s right for you.
You may find cheap insurance with an awesome price tag that won’t really give you the protection you need. Or you may find a great permanent life insurance policy that is simply out of your reach financially.
Both are bad decisions. You likely won’t keep up the premiums on the life policy with the higher insurance rate, and the cheaper life policy is not providing the peace of mind that should come with a good policy.
Life Insurance Choices
There are two basic types of insurance plans, term life and permanent life (permanent life is also known as universal life or whole life). Both offer the peace of mind that comes with knowing your family’s future is protected, but there are some major differences.
Term Life Insurance
Term life insurance is purchased for a specific period of time or term. Usually, the insurance term is for 1 year, 5 years, 10 years, 20 years or 30 years. At the end of that insurance term, the life policy holder has the option to renew the term insurance for another term. One of the biggest disadvantages of term life is that insurance rates may change at the end of a term. That means that your life rates are not guaranteed.
Permanent Life Insurance
Permanent life insurance has a set rate for the entire time you have the insurance policy. You can also sometimes build up cash value in your insurance plan, meaning you can borrow against the cash value and still collect the death benefit at the appropriate time.
Remember: any loan taken from the death benefit is subtracted from the value of the policy that will be collected at the time of death.
Note: universal life and whole life are not the same. They do have slight differences. To get a more in depth understanding of the differences you can read our sections on universal life and whole life.
Get A Free Life Insurance Quote
Getting a quote with Insurance Quote 4 You is as easy as 1, 2, 3. We have knowledgeable insurance agents that want to answer the questions you may have. We work with many insurance companies that have a very strong background and offer great insurance rates.
We would love to have the opportunity to work with you and earn your business. Get started today by filling out our insurance quote application above to work with some of the most experienced insurance agents around.