Do you have a whole life insurance policy that is becoming more and more unaffordable? Do you feel like you are paying too much for a small death benefit? Do you want more life insurance coverage for your family without having to pay an arm and a leg. You may want to consider a switch to term life insurance.
Whole life insurance has it’s places in the life insurance arena. If you are looking for permanent, lifelong insurance coverage, then whole life is a great choice. The only problem is that whole life insurance is expensive. It costs a lot more than term life because it’s permanent coverage and it also builds cash value. Another problem is that what you can afford to pay today can drastically change as time goes on. Take a look at the current economic condition. People are losing jobs left and right so family incomes are being cut. That expensive whole life policy that used to make you feel all warm and fuzzy may now be a thorn in your side.
Is your financial situation temporary? If you’ve lost your job or had a temporary decrease in your income, then you may still be able to hold onto your whole life policy. If you have cash value then that money can usually be used to cover your premiums. If your financial situation is not temporary and you really need to cut your costs, then a term life policy is a good idea. Be sure to shop around for competitive quotes and pick a policy that is affordable for you now and in the future. Get free quotes today.
Keep in mind that terminating a life insurance policy should be a well thought out decision. By taking out cash value or terminating a policy, you can incur tax costs so be sure to speak with your agent or tax advisor before you make a decision.
So you are shopping for life insurance and you want to compare quotes without having to give all of your information. You probably suspect that you’ll be called night and day by aggressive life insurance agents (that’s possible with some online quoting companies). You worry about getting spammed left and right by agents and companies. Because you don’t want to go through all of that, you’re looking for anonymous term life quotes right? The good news is that you can get anonymous term life quotes, but the bad news is that you’ll have to put in phony information. I know that sounds funny, but it’s true.
When you shop for term life insurance online, you have dozens and dozens of options. Just google “term life insurance” and you’ll find pages of life insurance companies who are ready and willing to give you quotes. Don’t be afraid to give your information to get some life insurance quotes because it’s actually to your advantage to work with a knowledgeable life insurance agent. There’s more to a life insurance quote than just putting in your age, height, weight and your smoking status. Just because you see a rate on a screen doesn’t mean you’ll be approved for that particular premium. Rates vary from carrier to carrier and if you have a little bit of high blood pressure, cholesterol or any other health issue, then there are certain companies that will give you better rates. That’s the type of information that you can’t find out by getting anonymous term life quotes.
So if you want to just get an idea of how much life insurance might cost you because you are bored at work, then anonymous term life quotes might be okay. But if you are seriously shopping for life insurance and you want to get the absolute lowest rates for your particular situation, you should definitely work with an experienced agent who knows the underwriting criteria for multiple carriers. Get a free quote today.
