Archive for November, 2008

Cheap Term Life Insurance

Nov 11

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Can I get cheap Term Life Insurance online?

Betty

Sulphur, Louisiana

Great Question Betty,

Buying cheap life insurance may be the only way to prepare yourself and especially your loved ones for the unfortunate event of your death. I probably don’t have to remind you that death is unavoidable but there really are people who try to be prepared in case something goes wrong.

If you happen to be the only earning member of your family, if something unexpected happens to you leading you to your death, you need to make sure that your loved ones have alternatives. Well-organized people take a structured approach to this by buying life insurance.

Getting insurance is very easy nowadays. There is an impressive number of companies to choose from and so many forms, you probably don’t even know where to start. The real difficulty will be filtering through all those options and finding a cheap insurance policy that will give you the coverage you need.

Life policies are very varied in nature. For example, there are insurance policies that cover your death. Then, you can choose life insurance that spans only for a specific period of time, usually somewhere in between 10 and 25 years.

However, it is the cost of these insurance policies that makes some people decide not to go through with it. They have to pay a monthly or annual fee without being to able to see immediate results. This is something that makes people lose their determination. But this is not a very wise decision.

Types of Life Insurance New Orleans, Louisiana LA

Nov 10

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My wife and I are expecting our first baby early next year. We were thinking of getting life insurance. What type of life insurance should we get?

Steve

New Orleans, LA

Hi Steve, I’m happy to know that you’re ensuring your child’s future even before he or she comes out. I would recommend you talk to a life insurance agent who can help you out with the type of life insurance that suits your needs. I’m certain that there are many insurance providers in that area.

However, to lessen your confusion, you will need to know that there are basically just three types of life insurance. One of these types of life insurance is whole life insurance. With whole life insurance, you are protected for the whole of your life which you pay premiums for as long as you live. There are also some policies wherein you stop paying after a certain number of years but the premium for this is usually higher as the payment is compacted into a shorter payment period. On the other hand, Term Life Insurance gives you protection for a certain number of years. Your premiums for term life will likely be the same for the life of the policy. This policy usually will have no cash account value and benefits will only be paid if you will die within the term of your policy. The third type of life insurance is Endowment life insurance. In this case, you will receive a sum of money should you live to a certain age. If not, then death benefits will be given to your beneficiary. All other life insurance will probably be a variation or combination of these three types of life insurance.

Cheap Term Life Insurance Lake Charles Louisiana

Nov 7

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How do I determine how much term life insurance I need?

Cheryl

Lake Charles , LA.

Execellent Question

If you’re healthy and are purchasing term life insurance early in life, it’s important to realize that the rate you’ll pay is going to increase only minimally if you decide to select a larger-sized death benefit. A good rule of thumb is to purchase as much policy as you can afford at the moment.

Next time you’re getting prices for cheap term life insurance, ask your agent to quote the next highest coverage amount. If the difference equates to one less night eating out per month, go for the additional coverage. You’ll be glad you did.

One way to keep term life insurance cheap is to pay your premium annually rather than monthly. There usually will be a considerable savings when paying this way. Insurance companies prefer to get paid once a year rather than once a month so they’re willing to offer incentives in the way of lower premiums.

Compare Life Insurance Quotes Monroe, Louisiana LA

Nov 5

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I am trying to compare life insurance quotes but I am not sure what to purchase. Can you help me?

Sally

Monroe, LA

Sally,

Life insurance offers financial security to a person or family in an event that a policyholder dies. There are a total of three parties involved in a life insurance transaction – the life insurance company or the insurer, the insured party, and the policy owner or policyholder.

There are three types of life insurance policies:

First, is the Term Insurance. This is the most basic life insurance coverage and is the simplest type. This is the least expensive to purchase. This offers coverage for a definite period time. However, this kind of policy does not offer cash savings.

The second type of life insurance is the Whole Life Insurance. This policy offers coverage for the insured’s whole life. This usually requires for a premium to be paid on a yearly basis;

Third, is the Universal Life Insurance. This type of policy was developed from whole life insurance. This offers a flexible premium since the policyholder is the once that decides how much life insurance he/she needs.

As to your second question on where to get life insurance rates, you can use the online resources like websites to compare life insurance quotes and compare which type of life insurance you need. If you are planning to purchase life insurance, I would suggest you do some research life insurance rates first from different companies and compare life insurance quotes so you could the best deal and also save a lot of money.

Universal Life Insurance New Orleans Louisiana LA

Nov 1

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My friend said that universal life is beneficial. Can you tell me more about it?

George

New Orleans, LA

George,

A universal life insurance is a permanent life insurance, with life insurance premiums at flexible rates with cash value. It is an insurance and an investment at the same time.

Term life insurance is for the death benefit, while universal life insurance can be diverted to savings. The policyholder and the beneficiary benefit from universal life insurance. With term life, the benefits will only be given to the beneficiaries upon your death, it is the opposite of universal life insurance, where the insured also benefits from the amount invested.

Cash amount accumulated with the life insurance can be used to pay the monthly life insurance premiums for the insurance, and in a given period of time, it can be withdrawn for other uses then returned to keep the insurance and investment.

You will be able to enjoy your investment and accumulated cash payments throughout after retirement since allocation period for investment in universal life insurance is up to 70 years.

I suggest that you contact with a local life insurance company to assist and guide you through your available options in getting this universal life insurance. You may also browse various life insurance providers websites online and compare quotes and options.

Louisiana Life Insurance

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