Having the right amount of coverage and life insurance is crucial to the financial well-being of any family, securing their future affordably. Too little can leave a family struggling if a wage earner dies, but too much can cost money that would be better spent on other necessities. Term life insurance quotes allow consumers to choose the type, amount and length of coverage, and the insurance company, giving you complete control of how much you pay for your policy.
Term life insurance is usually purchased as 5, 10, 15, 20, 25, or 30 year terms, and death benefits start at a minimum of $10,000, giving you the flexibility of buying exactly the amount of coverage you need and want for your family. While there are many options to choose from, getting term quotes can help you find and compare rates, policies, and insurance companies to buy the best. Just enter your zip code to begin a life insurance quote and see all the cheap, low cost term life policies available to you.
How Much Do I Need?
Many consumers have term life insurance as part of an employee benefit package. While group life insurance is great, the benefits offered under these policies may not be enough to provide financial security for a family. If the individual changes jobs, the benefits may be lost. Consumers should calculate how much insurance is necessary to pay off outstanding debts and expenses, including a mortgage, funeral expenses, college tuition, personal or business loans, and medical bills, and secure their family’s financial future and request term life insurance quotes for the coverage that will provide the right amount of protection. Most agents recommend that applicants purchase 5 to 10 times their annual income as the amount you need.
Questions to ask yourself when deciding how much life insurance you need and purchasing term coverage include:
- Will my spouse, children, and/or partner have enough money and financial support to survive until retirement, social security, or till my family can get back on its feet?
- If I died today, would my death benefit and coverage provide for my children and their education costs until they graduate from college and become financially independent?
- How long do I think I will be healthy enough to apply for life insurance and still get cheap rates? Do I have a history of medical conditions or issues in my family that may arise soon?
- Will the mortgage, credit card debts, business or personal loans be paid off soon? Will I leave expenses behind for my family to be burdened by? Can my family handle our current obligations without me, or with the savings and investments we have now?
All of these questions will help you as you are looking to get a term life insurance quote that fits your needs. If you are not entirely sure how much insurance coverage is appropriate, compare different death benefits and the price differences. Sometimes a $100,000 jump in a death benefit can only be a few extra dollars a month.
Types of Policies
Term life insurance plans come in many forms, and there is a policy for every possible need and situation. Between level term with fixed premiums, adjustable protection which allows you to change the death benefit and premiums, mortgage life insurance that covers your mortgage, joint term that covers two people for the price of one policy, or the countless other term life plans available, consumers can find an affordable policy for any coverage needs.
Many self-employed people overlook the need for life insurance protection, not only for their family, but for their business. If the business is a major financial asset that is family owned, key employees, including the owners and partners should have life insurance to protect their business assets and a separate policy to protect their families. For key man or joint term life insurance, both of which can be used for businesses, premiums are tax deductible. It is easy to compare rates, coverage, death benefits, and insurance companies for the best term life policy.
Finding Cheap Term Rates
The good news is that assessing how much life insurance coverage you need is the more difficult part; getting quotes is free and instant. To get term life insurance quotes from the best companies in the U.S., consumers just need to enter their zip code, pick a carrier, and fill out a brief form regarding their age, gender, address, and a few basic medical history questions. Instantly, consumers will receive many online insurance quotes from different insurance companies for the death benefit amount they want. Applicants can get as many online comparison quotes as desired for different benefit amounts and types of life insurance policies, allowing them to compare rates and find the cheapest, most affordable plans.
Term Life Insurance Quotes
It is important for individuals to review their financial needs periodically to make sure they have enough coverage to provide their family with an income if they die. Marriage, the birth of a new child, a new mortgage, personal or business loans, or retirement can change term life insurance goals. Fortunately, TermLifeInsuranceQuotes123.com not only provides term life insurance quotes, we offer other helpful tools and information to help consumers determine how to buy a plan given any circumstance in life.
Additionally, if we can’t answer one of your questions or don’t offer the right information you are searching for, there are other great resources on the web relating to personal finance and life insurance. We recommend MyLifeInsuranceQuotes101.com, a blog started by two retired insurance agents/brokers who provide their insight into the industry. They not only focus on term life, but all types of coverage, including permanent, whole, universal, and variable insurance; and because one of the partners specialized in car insurance, the team also writes at MyBestCarInsurance101.com.