Monday, December 19, 2011

Buy Life Insurance Online: What's the cheapest life insurance?

cheapest life insurance
People always ask me "How can I make sure my family is safe and secure? How can I use life insurance to do that?" What they need to remember is that although the insurance companies are out to make money, buying life insurance online gives you extra security for your family in case something happens to you.

Imagine how your kids or your spouse would pay for college if you were to die one day. Or not just college, but also food and general living expenses. That is why I am going to tell you a few reasons why you should buy life insurance online:

Buy Life Insurance Online: Security

Buying life insurance online gives you and your family peace of mind. There is also personal injury insurance in case you get incapacitated but survive and some life insurance policies allow you to add on personal injury insurance. However, what if your policy does not do that? You could get paralyzed at the work place, or get into a car accident and be unable to work. Now what? How do you put food on the table? If you add a personal injury package to a life insurance policy then your family will be okay.

Keep your family secure

What if you buy life insurance online and the unthinkable happens? And you die and do not just get injured. How will your family eat when you pass away? How will they pay for the funeral? Do you want to leave your wife and kids with the burden of paying off your home loan? Luckily, a good online life insurance policy can make your family at ease and give them the ability to pay off these debts and live comfortably after you pass away.

Be realistic with security

Insurance companies will try to get your money however they can. Knowing this, the good companies know that people really hate insurance companies that do not actually provide coverage, and instead make up reasons to not pay you when you get hurt even though you've been paying your premiums. As a result, good online insurance companies are able to instead pay you when you get sick. This makes them more money because it helps their brand image and also makes sure that you stick with the comapny and don't ditch them for somebody else. Furthermore, it protects them from expensive lawsuits by groups of people who are mad at the insurance company for ripping them off and can only get their payments in court, or else they would have to face being sick without being covered even though they have already given their money to the insurance company.

What type of policy do I need?

The type of policy you get depends a lot on what you do for a living, how risky it is, and what kind of money your family will need if you pass away. For example, let's say you have more or less paid off your mortgage and your wife has a full-time job. If you die then she will still be able to pay off your mortgage. However, what if you have a newborn child and she stays at home, plus two more kids in school, and the mortgage is only half paid off? Then you will need a much larger policy. Other variables include the risk involved: Do you work in a job where you are likely to die in a certain way? Does your insurance company cover this type of death?

Do your homework

Maybe you work in construction but it does not cover construction-related accidents, or maybe it does not cover any worksite related deaths at all. In this case, there is a good chance your labor union (in Europe) or employer provides life insurance options that can help keep a roof over your family's head in the event of your death.

Can I get a better policy?

A cheap policy is not for everybody. Maybe your family has particularly low savings but you have recently started making a lot of money. If you were to die before you can make enough money to keep your family afloat for a while then your death could both be a heartache and a financial disaster at the same time. But now let's say that you have a good life insurance policy that gives your family $500,000 in case you die. This will be enough to pay for college and for your family to live off of while your spouse (if they work at home) re-enters the work force and builds up skills to make a lot of money herself.

6 comments:

  1. Life insurance benefits are highly important and people are usually urged to sign up for them. The uses of the insurance are particularly many including the ability to pay for the burial and funeral arrangements of the deceased.

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  2. Hi,
    Term life insurance, whole life insurance, universal life insurance, variable life insurance, survivorship insurance… the list and combinations seem endless. Do you know which Newark Delaware life insurance policy type is right for you? At Bishop Associates we can help. Our dedicated team of life insurance professionals understand Delaware’s market and regulations and can find the right plan – or mixture of plans – for your specific needs.

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  3. Interesting piece of information. This article made my day as I have been trying to understand the usage of life insurance policy to make a firm decision. Its true that a life insurance policy is certainly a type of coverage that everyone should make.
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  4. Hi,
    It’s important to share original thoughts with today’s reader. Your article is a good example of how to make sound points and write interesting content. I agree with your views. Thank you for this article aboutLife Insurance Online.

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  5. It’s important to ask if there are medical exams because, sometimes, if certain medical conditions exist, coverage may not be attainable or may further limit you.

    - Audrina Jackson -

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  6. Buying insurance, via online or not, needs to be carefully studied before signing the deal. I know we’re all after the security that it brings our family, but we still need to consider the various offers of the companies that best fit our needs. You don’t need to rush in getting an insurance policy ‘cause you need to have a policy that you can rely on.

    [ Elnora Cowger ]

    ReplyDelete