Finance Articles

The next time you want to get rid of an irritating person, just ask if he or she would like a life insurance quote. I guarantee that they will lose no time in making their exit. People just do not like to discuss life insurance. However, anyone who is responsible for the support and welfare of young children should obtain life insurance quotes, if they do not already have a policy.

Millions of Americans have no life insurance, and millions more don't have enough to provide financial security for their loved ones. That's a disgrace, because if you're reasonably healthy, you can buy a lot of life insurance without spending a lot of money. Average premiums for individual life insurance have been falling about 6% a year since 2001, and they're expected to drop an additional 5% in 2008, according to the Insurance Information Institute.

In 2008, a 45-year-old male non-smoker who buys a $600,000, 21-year term insurance policy will pay an annual premium of approximately $630 if he qualifies for the "standard" rate, the institute estimates. If he qualifies for the "preferred" rate, which has more stringent health requirements, he'll pay around $350.

Life insurers have reduced their premiums because people are living longer, lowering the risk that the insurers will have to pay benefits to survivors, says an economist for the institute. Insurers have also developed more sophisticated ways to measure the risks of certain lifestyles and diseases.

If you are living on a limited budget but still require a cheap life insurance policy, then consider purchasing term life insurance. Term life and whole life, also called permanent life, are the two different types of life insurance quotes you can obtain. Term life insurance provides coverage for a limited period. If you out-live the period, you are no longer covered. So long as the premiums are paid, permanent life insurance provides coverage for as long as you live. In either case, part of the premium can go into an investment account which you can draw money from.

Term and Permanent are two different types of life insurance. Depending on your particular needs one or the other may be more appropriate for your financial planning. Permanent, just as it sounds, is a life long policy; it reimburses your survivors at the time of your death. Term insurance is for a fixed period of time and is often used by parents worried about ensuring that any minor children left orphaned would be taken care of. Term insurance may be renewable, though potentially subject to additional medical exams to determine costs.

You can receive up to 5 FREE life insurance quotes from the major life insurance providers by completing our short 4-minute form at Life-Insurance-Quoter.com. Just a few minutes of time now could save you thousands of dollars in just the next couple years! We've established relationships with major insurers so no matter which one you choose, you'll have a designated local agent to speak with anytime you wish. Visit us today and discover just how low your life insurance premiums can be!