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Life Insurance

Life Insurance Quote Forms

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Life Insurance Information

There are many kinds of life insurance, but they generally fall into two categories: term insurance and permanent insurance.

Term insurance is designed to meet temporary needs. It provides protection for a specific period of time (the "term") and generally pays a benefit only if you die during the term. This type of insurance often makes sense when you have a need for coverage that will disappear at a specific point in time. For instance, you may decide that you only need coverage until your children graduate from college or a particular debt is paid off, such as your mortgage.

In contrast, permanent insurance provides lifelong protection. As long as you pay the premiums, and no loans, withdrawals or surrenders are taken, the full face amount will be paid. Because it is designed to last a lifetime, permanent life insurance accumulates cash value and is priced for you to keep over a long period of time.

It's impossible to say which type of life insurance is better because the kind of coverage that's right for you depends on your unique circumstances and financial goals.

But remember, the best way to figure out the amount and type of life insurance that makes sense for your particular situation is to meet with a qualified life insurance professional.

Frequently Asked Questions

Should I get life insurance?

The amount of life insurance you select should be dependent on your personal and financial needs. We can assist you in determining an appropriate coverage amount and which type is right for you. Generally, you should consider life insurance if you have:

  • A spouse
  • Dependent children
  • Aging parents or a relative who depends on you for support
  • Retirement savings insufficient to ensure your spouse's future financial well-being
  • A sizable estate
  • A business

Life changes--so should your policy. As life events happen (such as: marriage, divorce, a new baby, purchase of a new home, retirement, etc.) you may want to reevaluate coverage to adapt to your needs.

What factors will determine my life insurance premium?

The life insurance company is betting that you will outlive the length of the term policy you choose. You hope they are correct! Many factors determine the premium you'll be asked to pay and you should understand them. Besides the amount of coverage, known as the face amount, and the length of the term you want, the insurance company looks at the following:

  • Your age - some companies use actual age, others use your nearest birthday age.
  • Height and weight - anything outside a range can increase premiums.
  • Family history - parents or siblings with a history of cancer, heart disease or diabetes can increase premiums.
  • Use of tobacco. Premiums are between 2.5 to 3 times more expensive for tobacco users.
  • Your medical history, or if you're taking prescriptions can affect the premium.
  • Avocation - certain occupations have a higher risk of death.
  • Travel to certain parts of the world.
  • Past or present drug use.
  • Driving history, including tickets and alcohol impaired convictions.

Unlike auto insurance, where we can tell you exactly how much you'll pay, life insurance is different. Until the application and the results of the medical examination are reviewed, you won't know with certainty what they are asking you to pay.

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