Life Insurance Information USA » Insurance Premiums

Shopping For Cheap Term Life Insurance?

admin — Tue, 18 Dec 2007 13:48:47 +0000

Term Life Insurance is the simplest form of life insurance, the terms are the easiest and the cheapest to shop for. Ask yourself and your agent a lot of questions and here are some suggestions:

Decide how much you need (the amount of death benefits)
How long you want the life insurance to cover you (1, 5,10, 15, 20, or more years)
Compare insurance premiums with other companies
Find out if the insurance policy fees are built into the premiums
Ask is the life insurance policy is renewable
Find out if it is convertible to whole life insurance
Ask if participating life insurance policies are available (potential for dividends)

You can purchase term life insurance from an insurance agent but some companies market term insurance through the mail, internet or TV.

What is Credit Life Insurance and Credit Disability Insurance?

admin — Mon, 17 Dec 2007 15:14:24 +0000

When financing large items purchased on credit such as an automobile, furniture, stereo set, boat etc., you will be asked by the lender to purchase a credit life and credit disability Insurance.

Credit Life Insurance promises to pay your debt of the insured purchased item when you die. This Insurance is a decreasing term policy and the insurance premiums are usually added into the loan contact. This type of insurance is always optional, and it can be expensive. Your lender cannot require you buy credit life but it will be offered to you.

A Credit disability policy will make your payments if you become disabled and unable to work. This policy provides you with protection and peace of mind. The lender cannot require you buy this policy.

Although credit life and credit disability insurance may have similar features, they are not mortgage life insurance.

Always read the fine print and ask questions if something is not clear before you sign the documents.

What is Level Term Life Insurance?

admin — Thu, 13 Dec 2007 20:18:34 +0000

Level Term Life Insurance is more common than an annual renewable term insurance.

The premiums are guaranteed to be the same for a given period of 10, 15, 20 or 30 years and is based on the cost of each year’s annual renewable term rates, therefore the longer the term, the higher the premium.

Most Level Term Life Insurance programs include a renewal option which allows the insured person to renew for a maximum guaranteed rate if the period needs to be extended. This clause is invoked only if the health of the insured deteriorates during the term.