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Online Life Insurance Companies. Which To Choose?

There are literally ten’s of thousands of life insurance companies wanting to compete for your business online every day. With that said how can you choose? How do you find the most affordable life insurance rates with the best coverage? The top life insurance companies differ from each other when it comes to pricing. There are tons of factors that go into your final selection.

One of the biggest, is which companies are going to rate you in the preferred or cheaper category based on your current health and lifestyle. The difference between pricing can be small from company to company but the difference in category can be huge. Another big factor in choosing the right company is the time it will take for your policy to go into effect.

Some life insurance companies can take several months for a policy to go into effect due to underwriting and different processes. Don’t overly concern yourself with this though as a good independent life agent will who works with many companies will know the ins and outs of each company and can help you choose the best one.

Don’t rely on speculation when it comes to choosing the right insurance company for you and you family. Instead, just take a look at what other consumers say about the best life insurance companies available today. You can accomplish this with a quick online search and read through reviews on any company that you might be interested in doing business with. This is also a great and quick way to find competitive online life insurance rates for yourself.

Here are a few of the top rated companies to get you started. Newyorklife.com Metlife.com Prudential.com Johnhancock.com Primerica.com

Posted on Thursday, August 30th, 2012. Filed under Health Insurance, Life Insurance.

Whole Life Insurance Or Term Life Insurance? What’s The Difference?

A confusing fact for many people in search of a life insurance policy. Which is the right one for me? Well first before you decide anything let’s go over the difference between the two most popular, term life insurance and whole life insurance. Term life is just your basic life policy and often the most popular. A term policy is life coverage only, on the death of the insured it pays the face amount to the beneficiary named on the policy.

Now whole life is a little different, it’s a combination of term and an investment component. The investment portion could be in bonds, money market accounts or stocks. Basically the policy builds cash value that you can borrow against. Whole life insurance is much more expensive than term because your not only paying for the insurance but aspect but also the investment portion too. The three most common types of whole life are traditional whole life, universal and variable life insurance.

Even though whole life is much more expensive that’s not to say it’s a bad idea. Wealthy people can use a whole life policy in their estate planning by setting up an insurance trust that will pay their estate taxes with the policy proceeds. If your looking for whole life or term life coverage make sure your doing your research on a professional and well respected company to go with.

You want some assurance that the company you choose will be around incase you aren’t. For life insurance companies you can do a quick search on the internet and read thousands of reviews of all the major players in the life insurance game before you decide on a company. Do a quick search and get some standard rates so you can get a feel for what kind of premiums you will be looking at. You can get an instant term life insurance quote by clicking here.

Posted on Thursday, August 30th, 2012. Filed under Health Insurance, Life Insurance.
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