By searching online for life insurance, you can get a free term life insurance quote with no obligation to buy. In order to get the free term life insurance quote, you fill in the form on the appropriate page of the life insurance company website. You do have to make sure you provide honest answers to all the questions in order to get the life insurance you need.
Once the company receives your request for a free term life insurance quote, then an agent will carefully review the application and email a quote to you based on the term of the policy and the amount of the death benefit. You should not base the quote you receive on that of a friend or another family member because every individual is different in his/her needs. Because you are shopping for low cost term life insurance, you do need to request free quotes from at least three companies.
Term life insurance is only good for the life of the term. At the end of the term, you have the option to renew the policy, but you may not get it for the same free term life insurance quote as you started with. This is because your age has certainly changed and your needs in terms of a settlement have also changed. However, you still want to get the best rates possible for low cost term life insurance.
You do not have to be in perfect health to get a free term life insurance quote. In fact, you can get low cost life insurance without even having a medical exam. Even if you do have life-threatening diseases, you can get a free quote for term life insurance but it may not be the low cost term life insurance you are hoping for. This is because you are in a higher risk category because your chances of dying within the term are much greater. Even if the premiums are a little higher, you are still leaving something for your family and to pay for your funeral.
Firstly, as there are several (if not hundreds) of insurance companies represented on these collective sites, it is much quicker to find the insurance companies from which to obtain your online insurance quotes than when compared to trawling around the Internet looking for each online insurance agents’ website. The second advantage to using these sites for collecting your online insurance quotes is that many portals allow you to collect instantaneous online insurance quotes through the use of just one single quotes form! So, instead of going to each insurance agent and re-keying the information needed to obtain your online quotes, you only have to enter the information once, saving you bags of time!
But what about price? Surely, if online insurance quotes are not obtained direct from the insurance (or assurance) agent’s website then they’ll be more expensive? In fact, the truth is that they won’t! Specialist portal sites handle all of the admin and advertising for each insurance agent represented so saving those insurance companies a packet. Therefore, if you go direct to the online insurance companies you are likely to receive the same online prices as you would through specialist portal sites.
Life insurance policy rates are determined by insurance company actuaries. They use mortality tables and other statistical information to determine the actual rates. The insurance shopper is usually oblivious to life insurance rating procedures but there are a lot of factors that you can evaluate before making a purchase. The purchase of life insurance has to have some planning in order for it to become effective and meaningful. There is a lot of life insurance purchased that eventually lapses because the need was not clearly defined from the beginning. This can cause repeat purchases and the lost advantage of keeping a policy in force. Permanent life insurance accumulates a cash value over the years and so it is particularly harmful at times to cash surrender your policy and start over again.
Things to Consider
- What is the Purpose?– This question is the most important question that you will ever answer before you purchase life insurance. You need to be very clear on the purpose of the life insurance or you will allow the policy to lapse when your budget needs relief. There are multiple needs for life insurance and so it is important to do some kind of needs analysis so that you are satisfied with the amount of life insurance and the type of life insurance that you purchase.
- What kind of Life Insurance?– Once you have determined your needs then it is a good idea to budget a certain amount of money for life insurance. This is important because it will help determine how much permanent or term life insurance to purchase.
- What Kind of Service?– There are some people that want to purchase life insurance from an insurance agent because they want the agent to service the policy and keep them informed about future needs. There are an increasing number of people who do not want an agent and prefer to do business over the internet or by telephone.