If you’re seeing this page, it means you’re already one step ahead of most people. By shopping for life insurance, you’re helping to safeguard your hard earned money and insure the financial situation of your loved ones.
Given the importance of life insurance, it’s critical to select the right policy for your needs. When making this decision, search for insurance companies that are budget friendly, have a history of financial success and stability, are highly rated amongst financial institutions, and have guaranteed death benefit payouts
Want to check if you qualify? Follow these two steps.
Step 1: Complete the form below and submit to receive your offers.
Step 2: Select a carrier to find out which policy you are eligible for and receive your free quotes.
Now that you know HOW to find the best life insurance by following the simple steps above…
Let’s go through the top reasons WHY it’s critical to have life insurance in the first place. We’ll also cover how it’s cheaper and easier to get coverage than you might think.
Reason #1: Protect Your Loved Ones
At the end of the day, purchasing life insurance is one of the most important financial decisions you can make.
It’s about protecting the ones you love against the most unforeseen of circumstances, and having the peace of mind of know your family is protected no matter what.
While it’s terrifying to think about passing away prematurely, it’s even scarier to think about the financial burden that could be left on your family without you there to help them.
The most common reasons to get life insurance include:
- Replacing your lost income – for those of you that are still working to support your family, you’ll want to get coverage that at least matches your current income. This one is especially true if your loved ones rely solely on your income to get by
- Paying off debts – just because you die doesn’t mean your debts will disappear. If you have any mortgages or loans your spouse may become entirely responsible for repayment. Life insurance allows you to take care of any lingering financial obligations
- Covering funeral expenses – sadly, even a basic funeral service can run upwards of several thousand dollars. The average cost of a funeral in 2020 ranges from $7,000 – $12,000 per a recent study. Planning a funeral while dealing with grief is enough of a burden, removing the financial component is critical
- Paying estate taxes – life insurance benefits can be used to pay estate taxes (yes…there a federal and state ‘death’ taxes you need to be aware of) so you don’t have to liquidate other assets, this could result in huge tax savings
Now that you have a better feel for how much coverage you need and understand the critical components that you need to protect for – you can click the button below to compare the best options out there.
It only takes a few minutes to calculate how much the perfect amount of coverage will cost.
When it comes to cost, let’s move to the next reason. This one comes with some good news…
Reason #2: It’s Cheaper Than You Think
The average cost of life insurance is about $26 a month for a $500,000 policy. That’s less than half of what the average American spends on coffee each month.
When you look at the cost compared to the peace of mind and protection you get for your family, for most it’s a no-brainer. While this will vary based on your age, health, gender, hobbies, and amount of coverage, it only takes a few minutes to calculate your exact cost for how much coverage you’ll receive.
You can also get discounts for how often you exercise and living a healthy lifestyle. After clicking to get a quote, make sure to ask what kind of discounts are available for the number of times you work out per week, being a non-smoker, and keeping a healthy diet.
Reason #3: The Earlier You Start, The Better Off You’ll Be
Your age is one the top factors in determining how much your life insurance is going to cost.
You can expect your rates to increase about 8-10% per year, and upwards of 12% per year for those over the age of 50. The good news is that once you lock in the term on your policy, your rates can’t go up if the policy remains active.
At 8-12% per year, the cost can add up quickly. That means the younger you get started, the more you will save over the duration of your policy.
Reason #4: Protect Against High Risk Jobs, Hobbies, and Environments
If you work or play in a dangerous or high risk environment, you have a greater chance of dying than someone that sits in front of a desk or TV all day.
Jobs like construction, firefighting, aviation, mining, oil, and a few others will most always result in a higher premium. Still, the high risk alone makes the policy that much more important to have.
The same applies to thrill-seekers – whether it’s rock climbing or scuba diving, it’s important to disclose any high-risk hobbies to make sure your family is covered from the dangers of doing what you love.
Reason #5: Diversify Your Investments
Life insurance can also be used as an investment tool with universal or ‘permanent’ life policies.
These types of policies are tied to a specific investment product, and policyholders receive dividend payments based on the product’s performance. There can also be a ‘cash-value’ component in the amount of money you’ve paid into your life insurance policy that you can invest or borrow against.
Before you jump into this type of life insurance, you’ll want to talk to the company about the fine print, but this can be a valuable benefit to the life insurance you end up picking.
Reason #6: It Only Takes A few Minutes to Get Covered
We’ve saved the best reason to get life insurance for last. That is – it only takes a few minutes to learn more about your different coverage options and calculate your costs.
By using the tool below, simply complete the form to be matched to the top providers in your area, and then select the top listing to fill out their brief application.
Once you visit their site, you’ll be asked a variety of questions to understand how much your coverage will cost and what type of policy makes the most sense for you. This only take a few minutes is the hardest part of the process – so don’t get discouraged and know that it’s a short and simple process once everything is said and done.
While we hope this article helps you find the best life insurance for you, we also hope it does more than that in giving you the peace of mind of knowing your family is protected.
Life insurance is one of the few decisions that combines both financial and emotional elements and cuts deep to our cores, facing the hard questions that nobody wants to ask. If you don’t have life insurance already, or aren’t fully confident in your coverage, take the time to learn more today, trust us, you’ll be happy you did.