Shopping for life insurance sure is
better than it used to be. Before
the advent of the internet and online
shopping, the whole process was tedious,
confusing, and probably limiting in the
options you could compare. A table
full of rate tables and percentages was
the norm of the day and there was good
reason that people put it off.
Fast forward to these days and it has
all changed. Let's look as what
you can expect when shopping for term
life and we'll pass on some tips to help
you find the best plan.
of the first things I do when shopping
for anything is go online and find a
site that seems to give me an impartial
overview of what's really important.
For example, I just purchased a higher
end document scanner. We use it to
scan all documents which allows us to
encrypt and back-up the electronic
version while destroying the paper copy
to better protect your privacy and
ensure we can quickly find your needed
information. I found a site which
helped me understand what really matter
among the 10-15 different variables to
consider. The information
empowered me to make the right choice
and it turned out to be an ideal fit for
life insurance is different from a
scanner but there are still key points
to focus on. Our goal with
simple...we want to provide you the
insight and guidance you need to find
life insurance policy all at
one site. You will find an
ever-increasing wealth of information at
our article database to do exactly this.
Let's pinpoint the key items to focus on
and point you to the right article for
What type of life insurance? This
loosely translates to term life
insurance versus whole life. These
are the two dominant types of life
insurance on the market. A quick
preview. Term life is much lower
priced but lasts for a fixed period of
time (From 5 - 30 years usually).
Whole life can last your entire life and
is more expensive. This really is
the first piece of the puzzle to solve.
It's hard to justify the extra cost of
whole life and we go into detail at
multiple articles (term versus whole,
why term life,
term life and investing).
If you really must have whole life, then
we'll help you but let us at least try
to save you a considerable amount of
money while shopping for life.
What length of term? Okay, so
you have read the articles and you made
the wise decision of term life.
For how long? This is the
first critical decision that directly
interacts with our next concern, how
much term life? They interact in
that in a yin-yang sort of way...an
increase in one means a decrease in the
other for a given premium amount.
First check out the articles at the end
of this section to get a better idea on
length. 20 years is usually a good
place to start. Within our online
quoting engine, you always go up or down
from this point but 20 works well for
more traditional uses of life insurance.
What length of
5 year term,
10 year term,
20 year term,
30 year term.
As we mentioned above, the next concern
is amount of coverage.
Probably the best bet when shopping for
life insurance is to try our
Planner. Keep in mind that life
insurance is typically about replacing
lost income over a long period of time.
The Planner will give you a baseline to
work from when shopping for term.
There are many variables to consider and
each person's situation is different.
Other than specific needs or business
uses that you may be shopping for, think 1)
financial income for family; 2) getting
children through college years and
expense 3) primary mortgage. These
are the core uses of life insurance.
Articles of interest:
Uses of term of
Best options side by side. The
final piece when shopping for life
insurance is to know that can you
quickly and easily compare the best
options available on the market.
There are two parts to this. One
is that you need a
life insurance broker
who is independent and offer multiple
carriers and plans. Secondly, you
need a system that allows you to see
these options next to each other
according to the amount and length that
fit your needs. Our
life insurance quoting engines provides
exactly this and at no cost to you.
Finally, you may have questions.
Know that as licensed life insurance
agents who have done all they can to
give you complete and fair information
on this site, we are more than happy to
walk over any questions you have.
There is no fee for our service when
shopping for life insurance.
That's our job!