Shopping For Term Life Insurance

life insurance

One of the most affordable life insurance options is term life insurance. Term life insurance is simple to understand yet affordable for the average family needing life insurance just in case something happens. When you are shopping for insurance, you need to shop around and compare what types of coverage various companies offer so you can make a wise choice.

Some frequent mistakes people make when they are shopping for term life insurance are:

Not Buying Enough Coverage

When planning to purchase term life insurance you need to make sure the death benefit is enough to cover your needs and your dependents needs. The average amount recommended for a life insurance policy is 10 times the insured’s yearly salary, however this equation may not work for your family, especially if you have children heading to college or someone that may need medical care in a few years. If you are the family’s sole income earner you may want a higher coverage amount.

Choosing Too Short of a Term

Term life insurance is often sold in set year policies from 5 years to 20 years. Before you purchase your policy, think about what your future needs might be. Do you want this term life insurance to provide coverage until your oldest child goes to college? On the other hand, would you prefer it to last until all your children are moved out of the house? Make sure you get coverage for a long enough term to encompass your needs.

Not Buying the Best Value Term Life Insurance

Before purchasing your term life insurance, you need to make sure the policy fits all of your requests, not just the amount you want to pay. Life insurance policies can vary depending on their available riders, convertibility rights and guarantee period. Find out how flexible the insurance policy is and how much it will cost to renew the policy after your term if you choose. To compare prices you can find a site like and get some quick and easy term life insurance quotes. That will help you narrow down the list of potential insurance carriers you may want to contact.

Buying Term Life Rather Than Another Type of Life Insurance Policy

Term life is great if you are under 45 and in good health, it is very affordable for younger people. Someone who is older and has medical problems may want to explore other types of life insurance such as universal life. Investigate your circumstances and make sure you are picking the right type of life insurance to fit your requirements.

3 Benefits of Burial Insurance

funeral insuranceWhen people think of insurance, they often think of life insurance, car insurance, and health insurance. Although these are all important, one type of life insurance often gets overlooked: burial insurance. It can be just as important and beneficial as well. This type of insurance gives you the opportunity to cover costs of your burial so no one will end up struggling with costs later on. Wondering how burial insurance can help you? Check out these top three benefits:

1. Easy payment plan:

When paying for your burial service in advance, you won’t have to pay thousands of dollars upfront. Instead, you can have an easy to handle burial service that won’t cost anyone else trouble or money by paying for your grave, land, and ceremony in small chunks every month. You’ll find that it’s affordable and easy.

2. Lower costs now than later:

If you pay for a burial before you are expecting death, you will end up saving tons of money. If a family member is planning and paying for your burial in a rush, prices will be much more than they are when you pay in advance and grab insurance. The insurance will give you the best cost and a great burial service whenever needed.

3. Renewable after death:

Whoever is paying is able to collect money after the burial service, and get a lot of what they paid back. Not only will someone get a safe, covered burial service but someone in the family will be able to renew the money. The benefits of burial insurance will never decrease and protection is up to 35,000 dollars, so you’ll be covered no matter what type of burial service you’d like.

These top three benefits should be highly considered when thinking about getting burial insurance. Not only will you be covered, but you’ll do someone a huge favor by not having to pay in a rush and alone.

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