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Here at Term Life Insurance our goal is simple; to make shopping for life insurance easy and convenient. The services we provide not only save our visitors time, by having you complete one form to compare rates from several insurance providers, but we also save you money.
Complete one form and compare insurance rates without the hassle of having to call several companies.
No one likes paying for insurance, so why pay more?
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Life Insurance Buyer's Guide
Prepared by the National Association of Insurance Commissioners
- Buying Life Insurance
- How much do you need?
- What is the Right Kind?
- Finding a Low Cost Policy
- Things to Remember
Buying Life Insurance
When you buy life insurance, you want coverage that fits your needs and doesn't cost too much. First, decide how much you need - and for how long - and what you can afford to pay. Next, find out what kinds of policies are available to meet your needs and pick the one that best suits you. Then, find out what different companies charge for that kind of policy for the amount of insurance you want. You can find important cost differences between life insurance policies by using cost comparison indexes as described in this guide.
It makes good sense to ask a life insurance agent or company to help you. An agent can be particularly useful in reviewing your insurance needs and in giving you information about the kinds of policies that are available. If one kind doesn't seem to fit your needs, ask about others. This guide provides only basic information. You can get more facts from a life insurance agent or company or at your public library.
How much do you need?
To decide how much life insurance you need, figure out what your dependents would have if you were to die now, and what they would actually need. Your new policy should come as close to making up the difference as you can afford.
In figuring what you have, count your present insurance - including any group insurance where you work, social security or veteran's insurance. Add other assets you have - saving, investments, real estate, and personal property.
In figuring what you need, think of income for you dependents - for family living expenses, educational costs and any other future needs. Think also of cash needs - for the expenses of a final illness and for paying taxes, mortgage or other debts.