For many people New Year’s represents a chance to start over and work at fulfilling resolutions for the next 12 months. Along with the typical diet, health and fitness resolutions, people should really consider adding financial resolutions to their list to help improve their money situation.
The past year was a struggle economically for many. With the economy taking a turn upward and the start of a new year, now is a great time to take stock of your insurance coverage and your needs by getting a New Year’s life insurance quote online.
Aside from the typical saving money and paying off credit card debt, your most important financial resolution should be to protect your family by getting New Year’s life insurance quotes. The main reason for life insurance is to offer financial protection for families, especially those with school-age children, against a devastating event or the death of the primary wage-earner.
There are two types of life insurance policies: term and permanent. Term insurance is a type of life insurance that pays out only if the death occurs during the “term” of the policy, which is usually anywhere from one to 30 years. The premium rates for term policies are comparatively less expensive than they used to be, as Americans as a whole live longer and healthier lives.
Permanent life insurance encompasses several subcategories, including traditional whole life, universal life, variable life and variable universal life. Unlike term life, permanent policies remain in force as long as the premium is paid, and some policies accumulate a cash value.
If you have life insurance, now is a good time to review your policy to see if you have enough coverage or too much coverage. It’s not a bad idea to get New Year’s life insurance quotes to compare against your current policy. Reviewing your life insurance policy with an insurance specialist enables you to determine if the type of life insurance and the amount of coverage supports your short- and long-term financial goals, especially if you’ve had significant changes in your finances and debt level; make any changes that may be necessary regarding your beneficiaries; and provide information on new insurance products available or policy changes.
Websites like LifeQuote offer a quick and easy process to finding the most affordable life insurance policy on the market, from only top-rated insurance companies that you can trust. With many 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’s insurance specialists work with you to understand your concerns, needs and preferences before recommending a life insurance policy.
Make 2013 the year you start making financial resolutions. Seeking out New Year’s life insurance quotes is the first step to not only protecting your family, but getting you on a healthy financial path.