Life Insurance Blog by IntelliQuote

Why Waiting Until Retirement to Buy Life Insurance is Foolish (and What to Do Instead)

Posted by Gary Lardy

Oct 23, 2014 6:30:00 PM

“I don’t need life insurance. I’m not even old enough to stop working.”

Sound familiar? You may have arrived at that same conclusion.

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Topics: Life Insurance Quotes, Compare Life Insurance Rates, Protecting your families financial future, Retirement Planning, Term Life Insurance

Newly Divorced? 4 Reasons Why you Need Life Insurance

Posted by Gary Lardy

Oct 20, 2014 6:00:00 PM

Divorce can be traumatic for some, but for others it can have its perks, such as reintroducing you to the bachelor or bachelorette lifestyle. Now that your children are grown and out of the house, your disposable income is no longer going toward a college savings fund or a new car for Susie. After your bills are paid, you are free to splurge on whatever you choose – like a luxury cruise, a new wardrobe or a golf getaway.

The world awaits, right?

Wrong.

Just because you no longer have a spouse, or legally dependent children, doesn’t mean your family won’t need to turn to you for financial support in a crisis. In fact, you may find that several members of your immediate family may need your help sooner than you think.

The child is now the parentWhen you were young, you depended on your parents for everything. They raised you to become the independent person you are now. Eventually, you’ll have to return the favor. Many children end up paying for their parents’ long-term care, including a private nurse or an assisted living facility. Depending on their retirement income and Social Security benefits, your parents may also need you to supplement their income to cover their basic needs. Choosing the right policy means you can honor your parents for all of the love and support they’ve given you over the years.

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Topics: Life Insurance Quotes, Compare Life Insurance, Online Life Insurance Rates, Divorce Life Insurance Policy, Life Insurance for Singles

Get Multiple Quotes in Less Time than it Takes to Book a Vacation

Posted by Gary Lardy

Oct 13, 2014 7:30:00 PM

This is the season that you and your spouse have waited 18+ years for. It’s the fall of your child’s college freshman year—and you’re ready to take back your house. You’ve planned the perfect way to celebrate your child’s journey into adulthood—a Hawaiian vacation. You’re just one mouse click away from paradise, but there’s a crucial purchase you forgot to make.
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Topics: Compare Life Insurance Rates, Compare Life Insurance, Life Insurance, Term Life Insurance Rates, Financial security

5 Surprising Reasons to Buy Life Insurance Before You Have Kids

Posted by Gary Lardy

Oct 9, 2014 1:30:00 PM

So, you and your spouse have decided to expand your family, yes?

You may be reconsidering a lot of things that you never gave a second thought to, like trading in your Dodge Charger for a minivan or evaluating your neighborhood’s public school system.

Life insurance is likely the furthest thing from your mind. But it shouldn’t be. In fact, life insurance should be one of the first things that you and your spouse nail down when it comes to your future children because it will have a significant long-term impact.

But why would anyone buy or adjust their life insurance to fit a child that doesn’t yet exist?

1) The calm before the storm: Babies are a blessing for any family, but these little miracles require your undivided attention, focus and loads of energy. It’s best for you and your spouse to figure out the right insurance policy and weigh your options before you become bogged down with a new set of priorities like diapers, play dates and college funds.

2) An asset within the asset: Speaking of college, the average cost for an in-state public university is around $23,000 a year, and private colleges cost around $45,000 annually. And those prices are slowly climbing. You’ll want to start putting money into a college fund as early as possible. Permanent life insurance acts like a savings account. Not only does this double as a college fund, but you can borrow against it and use the savings portion at a later time, tax-free. And unlike a 401(k) or a Roth IRA, your contribution is not capped, allowing you to add an unlimited amount of money to the savings portion of your plan.

3) Relief for your spouse: Before you start expanding your family, you can add your spouse as the beneficiary on your life insurance. This will guarantee that your spouse won’t need to worry about paying for your final arrangements in the case of your untimely death. Remember, the younger and healthier you are when you sign up, the lower your premiums. The average life expectancy is 79 years old, so signing up for a policy at age 30 will save you money, versus signing up for the same premium ten years from now.

4) Pay off major expenses: When you have kids, not only does your family expand, but so does the size of your purchases. Kids require you to buy a larger car and home, which means you need to bring home a bigger paycheck. In the event of your untimely death, who will help to pay your mortgage? If you live in a two-income home, how will your spouse make ends meet surviving on only one income?

5) The ace in the hole: In addition to benefits, many employers also offer life insurance to their employees. However, you should consider purchasing insurance outside of your job. If you are laid-off or fired, or if you become sick and cannot work, you will be dropped from your company policy. This will put your family in a tight spot. Also, most employment-based policies only cover your basic needs and may not provide the specific coverage that you desire.

If you’re considering starting a family, the time to start planning for life insurance is before your children are born, not after. Compare up to six life insurance rates, side-by-side, in just a few minutes, today! 

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Topics: Life Insurance for Parents, Protecting your families financial future, Term Life Insurance, Life Insurance, Life Insurance for Young Families

What are the differences between Term and Universal/Whole Life Insurance?

Posted by Gary Lardy

Oct 6, 2014 4:00:00 PM

Life insurance comes in two common varieties: term life insurance and whole or universal life insurance. The main differences between these two kinds of insurance can be gleaned from their names; as you might expect, term life insurance lasts for a specific term, while whole life insurance lasts for the policy holder's entire lifespan. There are some other key differences between these two kinds of insurance that you should be aware of if you wish to make a smart decision about your life insurance needs.

Premium Amounts And Changes

One of the main things that financially responsible consumers must do in order to find the best life insurance carriers (or policies) is shop for a policy based on price. Life insurance premiums vary depending on several factors including how much coverage you are looking for and what kind of health you currently enjoy. Both kinds of life insurance can be set up to provide fixed premiums that do not change from month to month, but it is more common to have whole life insurance policies with fixed premiums.

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Topics: Compare Life Insurance Rates, Online Life Insurance, Whole Life Insurance, Term Life Insurance, term life vs whole life

The Benefit of Life Insurance to Families

Posted by Gary Lardy

Oct 2, 2014 1:00:00 PM

There are many kinds of consumers who would be a good fit for a life insurance policy. Some of the most suitable candidates, however, are those people who have a family. If you are looking to ensure that your loved ones are protected from financial hardship after you are gone, you should compare life insurance policies that are available from different providers to find one that suits your needs. Life insurance is particularly important for people with a family for a number of reasons.

 

Protecting Children

Parents are responsible for both physically and financially protecting their children. Have you ever thought about what would happen to your children if you passed away unexpectedly? It is nice to think that you might have some relatives or close friends who would step in and take care of your next of kin, but not everyone can enjoy the luxury of this situation. Life insurance provides your kids with a guarantee that they will be able to maintain their lifestyle even if something happens to you while they are still too young to bring in any income.

 

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Topics: Protecting your families financial future, Online Term Life Insurance, Compare Life Insurance, Term Life Insurance, Financial Future

The Value of Real-Time Comparison of Term Life Insurance Quotes

Posted by Gary Lardy

Sep 30, 2014 3:30:00 PM

Purchasing life insurance can be a complicated task. Not only do you have to decide which kind of insurance policy is right for you and your family, you then have to pick a source from which to get your insurance. Making the wrong decision about your insurance provider can cost you a tremendous amount of stress and aggravation. Fortunately, there are extremely useful life insurance comparison tools available to help people decide what kind of policy is best for their needs. These tools provide many benefits to those shopping for insurance.

Getting The Best Price On Insurance

One of the biggest benefits of getting multiple quotes at the same time while you are shopping for insurance is that you are able to compare prices on a term life insurance policy or other kind of insurance. Side by side price comparison-shopping is an excellent way to get a good deal on a term life insurance policy.

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Topics: Compare Life Insurance Rates, Online Life Insurance, Compare Life Insurance, Term Life Insurance, Life Insurance

What is the Value of Term Life Insurance?

Posted by Gary Lardy

Sep 26, 2014 9:30:00 AM

Life insurance is very important for those who do not want to leave a financial burden on their loved ones after they pass away. Term life insurance is the type of life insurance policy that lasts for a fixed period of time, as opposed to whole life insurance, which lasts for the policyholder’s entire life. There are some important benefits of term life insurance that all insurance shoppers should understand as they are comparing term life insurance quotes to find the best policy for their needs.

 

Term Life Insurance Is Simple


Term life insurance is relatively easy to understand; you decide the length insurance policy you want and how much coverage you need. If you pass away during the time when the policy is active, your family members receive the policy payout. Whole life insurance, on the other hand, involves a tax-sheltered investment that can change value over the years. If you are looking for straightforward life insurance coverage and are not concerned about investing your insurance money, term life insurance makes it easy for you to get covered.

 

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Topics: Life Insurance Quotes, Compare Life Insurance, Whole Life Insurance, Term Life Insurance, Life Insurance

ABOUT INTELLIQUOTE

A leading online life insurance agency since 1997, IntelliQuote provides customers simplified, private access to compare, shop and buy life insurance online, including term life insurance quotes. IntelliQuote offers clients a wide selection of competitive products from A-rated carriers, supported by licensed agents. This simplified approach makes purchasing a policy easy and straightforward while providing a savings of up to 70% per policy. IntelliQuote is a member of the LIFE Foundation and is committed to ongoing consumer education. For information on how to estimate how much coverage an individual might need, contact www.intelliquote.com, or 888.883.6855.

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