Choosing a Life Insurance Plan
Choosing term or whole life is a personal decision you will need to make. If you have budgetary constraints, you may want to opt for term life insurance with a conversion option that allows you to convert to whole life later. Also, if you are young and get a good price on premiums, you may want to choose whole life instead. Read further to learn more.
Should I insure my spouse?
A joint term life insurance can insure you and your spouse. In either one dies, the death benefits will be paid to the surviving spouse. The advantage of purchasing a joint term life insurance policy is that it is cheaper than purchasing an individual policy for each. Most people tend to neglect the earning power of a stay-at-home spouse. According to some surveys, if a price is put on all the chores and errands she/he does everyday, a typical stay-at-home spouse earns approximately $140,000 a year. If a stay-at-home spouse were to die, think of how much money you would spend just on child care and housekeeping.
If I have poor health, am I still eligible for life insurance?
Yes, you can get life insurance even if you a severe medical condition. You need to pay higher premiums, but you can still coverage. If for health reasons or because of your lifestyle habits, you are unable to get a typical coverage, there are life insurance companies that offer no medical life insurance. This means you don't have to go through a medical exam to qualify for life insurance coverage.
If you have diabetes, heart problems, or any other common ailments prevalent today, you may need to go around to get the most competitive rates. There are life insurance companies that specialise in certain health conditions and may offer better rates, in spite of your health condition.
The Advantages of Shopping Online for Life Insurance
Aggregator websites offer a wide range of life insurance products offered by top-rated life insurance companies. You'll get instant access to multiple life insurance quotes that best suit your specific and personal life insurance needs. You'll be able to compare quotes, pricing, terms and conditions, insurance company ratings and product features. You'll also get better discounts" sometimes up to 70 percent on life insurance products. If you need guidance or unbiased recommendations, many aggregator websites have available customer support services.
A word of advice doesn't go for the cheapest policy. Shop around for a product that gives you the best value at the most affordable price. For a few extra dollars, a free rider, like a waiver option may come in handy. You may also find it's worth paying a little extra to go with a life insurance carrier that has an exceptional insurance rating"one that has a proven track record of paying out death benefits promptly without delay. Visit http://www.reallifealliance.com/the-advantages-of-whole-life-insurance-plans/ to get started.
Go to http://www.ehow.com/how-does_4741225_term-life-insurance-work.html to learn more about how life insurance works.