Best Life Insurance
What type is the best Life Insurance Plan for you?
Are you looking for the Best Life Insurance plan and the Best Life Insurance companies that will fit your need ? If you are confused about the different types of life insurance , take 5 minutes and read this article as it will describe the best life insurance plans.
What is Life Insurance?
What type of Life Insurance Plans are there? There are really only two types of Life Insurance Plans: Term Life and Whole Life ( Permanent Life Insurance)
Term Life Insurance does not cover an insured person for their entire life, but rather, only covers a person for a specific term period. The insurance policy will only pay the beneficiary if you die during the term period. Term life insurance is the most popular type of life insurance as it covers people during the period when they may be earning the most income and having the most long term debt. Long term debt would be homes, cars, educational expense etc. Term life insurance, with a full medically underwritten plan, can be the least expensive plan that you can purchase.
Whole life insurance is the type of insurance that will cover a person for their entire life. This is also known as Permanent Life Insurance or Universal Life Insurance. These policies will carry a monthly premium until death. . They are more expensive because they are not based on a Term period but rather your entire life. Permanent Life Insurance policies do accumulate some cash value. Although I would never recommend this as an investment strategy. That being said you can borrow against the cash accumulation.
There are many types of Life Insurance policies that fall under Term and Whole Life. Click on each link to learn more and how to get a quote:
What is the best life insurance plan for me?
Everyone has a different situation. Current Income, expenses , long term financial goals are different for each person. The best place to start is to review the following conditions:
Health – Any major medical conditions beyond controlled High Blood pressure or controlled Cholesterol?
Do you use Tobacco – It goes without saying, if you don’t use tobacco your rates will be lower. Most carriers will offer you good rates if you have used no tobacco products in the last 12 months.
Income – Most financial planners recommend up to 10X your annual salary.
Expenses – In the event of an unexpected death, what bills need to be paid: Home Mortgage, Educational expenses, Car loans etc.
How do I apply for a Life Insurance Policy?
The best and most update way is to work with an independent agent who uses modern technology to stay on top of current rates. I , for example, work with over 60 of the best life insurance companies and can place those that might have minor to major health impairments. Getting the best life insurance quotes is just a phone call away , or fill out my contact form and I will give you a call at a time that is convenient.
My Toll Free number is 1-800-530-9134