Most people buy life insurance to replace the income that would be lost if a wage earner passed away. With quite a few different types of life insurance on the market today; the cost of a policy and the features it offers can differ tremendously. Understanding the ins and outs of each type of life insurance policy will ensure that you choose the ideal plan to guarantee the right amount of coverage to protect your family.
LifeQuote offers a quick and easy process that allows you to find the most affordable term life insurance policy on the market, from only top-rated insurance companies that you can trust. Many of the nation’s largest insurance carriers often offer the lowest rates because they have the resources necessary to compete for your dollars. At LifeQuote, we’re more than insurance experts – we take the time to learn about you, your family and your preferences before recommending a life insurance policy. Before you get started figuring out which policy you want to choose or which company you would like to go with, ask yourself these three basic questions.
Do I need life insurance?
If you are the sole breadwinner for a large family, with little savings, then life insurance is essential. If you have no dependents, or if you do not generate a significant portion of your family’s income, you probably do not need life insurance. If your salary is important to supporting your family, paying the mortgage or recurring bills, or sending your kids to college, life insurance is crucial to make sure these financial obligations are covered in the event of your death.
How much life insurance do I need?
The general guideline is between 5 to 10 times your annual salary. It is difficult to create a general rule-of-thumb because each insurance policy should be customized for the individual. Some factors that need to be taken into account: how many dependants you have, amount of reoccurring bills, your current debts, your lifestyle, etc.
What type of insurance is best for me?
With all of the plan choices, options, limits, and add-ons, figuring out which policy is best for you and your family can be overwhelming. Keep one thing in mind: if you do not need, do not buy it.
LifeQuote offers several features to help make the process of finding the right life insurance as simple and painless as possible. From live chat to an easy-to-use calculator that helps you to better identify your insurance needs, we have a user-friendly tool to help you every step of the way.
Visit our FAQs about Life Insurance section to get more answers to frequently-asked-questions.
To compare quotes, simply click get a quote and you will be taken to a page that asks you to complete a form. If you’re unsure of how much coverage you need, or how long the term should be, click start a chat to connect with one of our knowledgeable representatives immediately. You can also send us an email or call our licensed agents at 1-800-521-7873.
Check out our other sections for a wealth of information about life insurance:
History of Life Insurance
Understanding Life Insurance
Term Insurance Explained
Factors that Impact Cost
Life Insurance Examples
Tips to Improve Your Insurance Health
10 Reasons to Buy Life Insurance