Finding the Best Carriers for Affordable Life Insurance
Ensuring that you have the right type of life insurance is important for you, your peace of mind and the financial security of your loved ones.
While it can be overwhelming to realize just how many different plans and carriers are out there, the variety means that you will be able to find an affordable life insurance plan that meets all of your needs .
Here are some of the key questions to ask yourself in order to find insurance that suits you best.
How is Your Health?
As you might expect, insurers are very interested in the age and overall health of their potential clients. Your health history will play a large role in determining the types of policies available to you as well as the price you might expect to pay.
The health history of your immediate family, which includes parents and siblings, will also influence the price of life insurance for you.
Other common issues that have the potential to increase health risks and coverage costs include tobacco use, high blood pressure and high cholesterol.
However, if you are able to control your medical conditions, or if you have stopped using tobacco for a minimum of one year, your rates might not be as high as you expect.
The key is to work with an experienced agent, who will help you find the best carrier no matter your current health.
How Much Coverage Do You Really Need?
Although most adults can benefit from having life insurance, the amount needed will differ substantially from person to person depending on mortgage, debts, dependents and more.
Costs that you might want to factor into the total insurance payoff might include final expenses, the remainder of your home’s mortgage, education for your children and monthly expenses for a certain number of years in order to give your loved ones financial security.
What Type of Plan Will Be Best For You?
With several different types of life insurance plans available on the market, it is important to understand a bit more about each type before making your final decision.
-Term Life Insurance: This is the life insurance policy that people are most familiar with. It only covers a set term, typically 20 years, and you pay a monthly premium to guarantee a payout.
-Whole Life Insurance: This differs from term life insurance by lasting for the insured individual’s entire life rather than just a 20 year period.
-Burial Insurance: This is one of the most affordable plans, and it covers expenses of funeral and burial arrangements. Many people, 50+, feel that this is an excellent option to handle final expense costs. Learn more by clicking HERE
-No Medical Exam Insurance Plans: These plans can be more expensive, but they might be best for those that need a policy in place quickly. Face amounts can be up to $399,000. If you need more coverage you can “Stack” policies.
Do You Know Where to Start Looking?
One of the biggest mistakes you can make when choosing life insurance is working with a broker who only wants to sell one carrier’s policies. Instead, work with an independent broker who has access to dozens of plans with a variety of carriers, and who will work hard to find the best life insurance plan for you and your budget.
With these tips, finding life insurance doesn’t have to be a challenge. With the help of an independent broker, such as M2 Insurance, you can get a clear idea of what you need and who can provide that to you in an affordable manner.
Please give me a call at 512-963-5000 or use my quote request form to start the life insurance process.