Oct 13, 2014 7:30:00 PM
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!
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.
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.
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.
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.
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.
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.
Sep 26, 2014 9:30:00 AM
Sep 23, 2014 8:30:00 AM
Many of the nation’s leading life insurance carriers are working to cater to the needs of working class America. Perhaps you’ve notice a life insurance kiosk in your local pharmacy or even at the mall? If so, what was your reaction? Do you appreciate the convenience of shopping for life insurance in the retail stores you frequent? Would you rather shop online? Or, perhaps you want to meet with an advisor in person? No matter your preferred method of comparing life insurance rates, you might begin to see more life insurance offers in unconventional places in the near future.
A recent article in the Wall Street Journal detailed the efforts of MetLife to offer life insurance inside select Wal-Mart stores. An initiative that started in Georgia and South Carolina, MetLife plans to expand the program into additional states in the near future. What is MetLife’s main selling point with these kiosks? Not to necessarily offer the cheapest life insurance rates on the market, but to make coverage more accessible. When one considers that there is an estimated $3 trillion gap in life insurance protection* in the United States, it is feasible that this business model will eventually prove effective.
Sep 11, 2014 10:00:00 AM
A recent study from New York Life found that most Americans say that they would need enough life insurance coverage to provide for 14 years of expenses after the loss of a breadwinner. However, the reality is a bit alarming, most of those surveyed only carried roughly three years of protection. What does this tell us? Most Americans are risking their financial health by not carrying adequate life insurance protection.
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.