Saturday, 5 May 2007

Get Life Insurance Quotes On-line

Depending on your circumstances, life insurance is often a key component of your financial plans. While a young single with no responsibilities or debts may not need life insurance (disability insurance is another matter), and older folk living off their life insurance may also not need any (although insurance can apparently be part of estate planning in the US), most working people with dependents should check they have sufficient life insurance. How much you need is a very personal question - so people want to be able to pay off all debts and provide for their family indefinitely if they die. Others would be happy to provide a couple of years income replacement and some amount towards their kids education requirements - the theory being that the surviving spouse may work or remarry.

It's useful to be able to compare insurance quotes online, but many sites often require personal details before they will provide a quote - which can discourage those who don't want to end up being pressured by life insurance salespeople. Lifeinsure.com has a comprehensive life insurance rates database and can be used to obtain customized quotes without providing personal data. The website is neat and clean, and provides some useful educational material and FAQs about insurance. For example, information on the impact of smoking and weight on insurance rates is explained, with a table showing what maximum weight will get you a better rate for your height. There is also information about the relative financial strength of insurance companies.

I did a test run of the online quote tool and found it easy to use. A list of 26 quotes came up for: 15 Year Term, Amount: $500,000, Payment Plan: Annual , 45 Year Male, Non-Smoker, Preferred Plus. The quotes ranged from $555 pa to $1280 pa, depending on the provider and plan, so it is often worthwhile getting advice from an insurance broker on what policy is the best value for money in your situation - often the cheapest quote may not be the best fit to your needs.



Enough Wealth

1 comment:

Sean said...

This post is very informative. I agree with your assertion about sites that require you to enter personal details before providing a quote. I also find that unnerving. I did some searching and I stumbled upon globe life insurance. I only had to enter my name and address and information was mailed to me. Super easy and fast.