Life Insurance Tips
Whole Life Insurance Basics
This type of policy differs from term life insurance in that "term" only covers you for a specific amount of time, perhaps a decade or two while you still have dependents at home. This coverage, on the other hand, covers you for your "whole life", providing consistent coverage until you die. Many people, especially young families, choose to begin their life insurance coverage with a term policy, and then after their dependents no longer need to be supported by their income, they switch to a whole life policy with a lower level of coverage to provide them protection for the rest of their lives.
Getting With Your Local Agent
You have several different choices when it comes to getting this type of insurance quote. You can go to your local agent, who will then ask you questions about your health, your family, your lifestyle, and they may require that you have a medical exam before they can sell you a whole life policy. They will then be able to give you a whole life rate, and you can judge from that whether you can afford the premiums for the level of coverage you desire.
Getting Quotes On The Internet
Another way you can get a quote is to compare rates at a reputable comparison website such as this one. Online comparison sites and life insurance calculators can give you quotes, and they can help you discern which companies provide the level of coverage you want for your family's protection at a rate you can afford. Comparison sites and calculators will also take your information, such as age, health, smoking status, and the kind of coverage you want, and show you the different rates offered.
There are different kinds of whole life policies, and each of them offers different rates and different types of coverage. Traditional whole life insurance can guarantee you a minimum rate of return on the cash value of your policy, while an interest-sensitive policy offers a variable rate on your cash value. Single premium policies mean that you pay for the policy with a large sum of money that you pay once for all time. This kind of policy still continues to accrue interest and cash value.
You can get information and a quote for any of these types of policies. It can help you discern what is best for you and your family. To get started, submit your zip code using the box below...