It used to be that getting a quote on life insurance felt like you were pre-determining your life expectancy. Sure, they called it a life insurance quote, but it seemed more like a death insurance quote. After answering each question, the insurance salesperson would give you that look that says, ?How could you do that? Don?t you know it cuts ten years off your life?? Well it?s not that bad today. Life insurance quotes are now easier than ever, thanks to the time saving technology from the online world. You can get a term life insurance quote from several companies and compare them without ever talking to a representative. Get a whole life insurance quote in a matter of seconds instead of days. And you can do it all from the comfort of home.
Some Things to Remember When you Compare Life Insurance Quotes
1. Be Accurate: The more accurate your information is, the more accurate your life quote will be. Never hide information like whether or not you smoke. Remember, this would set life insurance companies free from their obligations in the event of your death?so it wouldn?t even make sense to have insurance if you are not as accurate as possible.
2. Never Base Your Choices on Price Alone: Low prices are always attractive, but find out for sure that a policy will suit your needs. Ask for the details involved in term life insurance and whole life insurance plans. Don?t take anything for granted. And research the insurance companies. Find out how long they?ve been in business and how fast their usual turn around is for pay-offs.
3. Compare from at Least Three Companies: There?s no reason to limit yourself to one or two quotes?not when obtaining a quote is so easy. Shop around and find out what insurance companies have to offer.
4. To Compare Life Insurance Quotes, Start with the Same Set of Answers: If you?re comparing different quotes, make sure they?re not for different policies. Type of life insurance policy, time periods for term policies, and the insured amount can all have a huge impact on a quote?so make sure the answers to questionnaires are the same from company to company.
The Difference between Whole Life Insurance and Term Life Insurance
For the most part, there are two kinds of life insurance: whole life insurance and term life insurance. While there are variations of both of these, the biggest difference between the two is that one is for long term coverage and one is for short term coverage?and your life insurance quotes will be very different for each one.
Whole Life Insurance (generally for long term coverage) has a set premium and doesn?t change (except for some variations) throughout the policy term. You pay your premiums, and when you die, your beneficiary receives the pay-off. Your whole life insurance quote will specify the premium amount. As you pay into the policy, it builds equity, which you can withdraw or borrow against.
Term Life Insurance (usually used for short term coverage) only lasts for a certain amount of time. That time is defined in the term life insurance quote. At the end of this term, the policy ends and the policy is re-evaluated for a new quote.
Using Online Life Insurance Quotes
Use a website that connects you to several life insurance companies. Add them to your favorites menu so you can find them again. As you receive your quotes, print them out for easy comparison. In no time at all, you?ll find the perfect company for your life insurance needs without ever feeling like you?re the one being examined.
