Life Insurance Rates and Quotes - Discover the Best Type of Life Insurance Policy for You
When you're in the market for life insurance, it's important to understand your options. Choosing from the many life insurance policy quotes can be confusing if you don't understand the benefits of each type. When you compare life insurance, you'll learn that there are many different life insurance companies, life insurance rates, and life insurance types out there. In order to receive the best possible coverage and be prepared for the unexpected, your policy needs to address the specific needs of your family. Without proper coverage, your family may be left with funeral expenses, medical costs, or other issues.
The types of life insurance policy quotes you'll receive are term life insurance, whole life insurance, universal life insurance, permanent life insurance, variable life insurance, and single premium life insurance. Before you start shopping for premium quotes, it's best to take the time to gain an understanding of all of your options to ensure the best coverage is selected.
Term Life Insurance
One of the life insurance policy quotes you may opt to receive is for term life insurance. This is a short-term policy for a designated period of time, which usually exceeds one year. They can be renewed after the time period has lapsed, but it has no cash value or equity. This type of coverage has lower rates for younger policy holders and the face value of the policy is paid if you die while the policy is active.
Whole Life Insurance
As the most basic of all life insurance policy quotes, whole life insurance is a popular choice. This type of coverage allows the policy holder to pay premiums, which go towards to policy itself as well as a savings account - this offers two layers of protection for your family.
Permanent Life Insurance
Often referred to as cash value policies, permanent life insurance provides cash death benefits as well as a savings plan. When you receive policy quotes for this type of coverage, there will be set up fees for the account as well as numerous tax benefits. One of the benefits of this coverage is that the premiums are fixed, so they don't go up over time.
Single Premium Life Insurance
Single premium life insurance policy quotes are the simplest of all. The policy holder will pay a lump sum premium, which will last the entire term of the policy. The provider will base your premium on factors like age and many other elements.
Universal Life Insurance
As a more flexible option than whole life insurance, universal life insurance quotes give the policy holder the freedom to select how their premium is divided. When making payments, you are able to decide how much will go towards the insurance premium and how much will go towards savings or investment accounts. This can give a higher payout to your family, which makes universal life insurance a popular choice.
Variable Life Insurance
These life insurance policy quotes allow the policy holder to make a determination about how your investments are used. You may select high or low risk investments and the policy will have a varied death benefit, based on the success of your investments
No Exam Life Insurance
When in search of a life insurance policy, there are certain circumstances that can lead to a denial in coverage. No exam life insurance is a type of coverage that is offered without a medical exam. This type of coverage is ideal for people of advanced age and people that have been denied coverage in the past. Often, no exam life insurance is also much quicker to obtain than traditional policies. This can be of great benefit when you’d like to have coverage in place right away.
The overall cost of no exam life insurance will usually be a bit more than the cost of policies that require medical exams. The convenience of securing coverage quickly and without a test comes at a price, but many policy holders consider it to be a worthwhile option. When you are in need of more information about no exam life insurance, the LifeInsuranceQuotes.com team is happy to assist. Request your free multiple life insurance quotes and decide which type of coverage is right for you.