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Tips That Will Find You Affordable Life Insurance  By: Joe Stewart

Does affordable life insurance really exist? Well, this depends on a few different things such as, are you married or are you single? Do you have any kids? What is your current age? What line of work are you in?

Do you have “risky” or unsafe hobbies? These would be things considered “out of the ordinary” by most people

Here are five tips that could assist you in your search for affordable life insurance

#1. Avoid the risky activities mentioned above. Think about this for a moment. You wouldn’t sell a life insurance policy to yourself doing those activities would you? You see, life insurance companies base the cost of your insurance policies on a few different sets of criteria. They come up with your premiums by looking at statistics from other people your age over the previous year.

Most people do NOT engage in high risk behaviors. This means that you may be excluded from buying life insurance or have to pay an extremely high premium, because of your dangerous activities. Exclusions could be placed on your policy, which means that you would not be covered if your death was caused by an “excluded” activity.

#2. Maintain a healthy lifestyle. In other words, eat good foods, work out regularly and get eight hours of sleep. Watch your stress and spend time with those you care about. You may not think that bad living habits show, but it is a proven fact that they do. In other words, sex only with protection, eating right and working out and putting cigarettes down for good. This alone can make a substantial difference in the amount of your premiums after one year and then again after three years.

#3. Buy low cost Term Life. Term life insurance is substantially less expensive than Whole Life or Endowment policies. You can buy Term for a specific period of time such as “Ten Year Term” or “Twenty Year Term” if you are approaching retirement age and the majority of your major bills will be paid off by then. You may want to invest in Guaranteed Renewable Term life insurance instead of Whole Life. This means that as long as you abide by the rules of the policy, and maintain the premium payments, then you can continue to renew it regardless of the condition of your health.

#4. Don’t jump right into anything. Check different companies, speak to different agents and compare them all.

Sit down with your significant other and go through the paperwork thoroughly. Don’t be afraid to ask questions either. A 30 day review is standard with any new life insurance policy. Check it out thoroughly. Also make certain that there are not any unexpected “Exclusions”, “Waiting Periods” or “Modifications” within the policy that you don’t understand.

Do it right now because once you’re gone, you’re gone and your beneficiary is left with the consequences. Make certain that they are secure by taking the time to read the policy front to back and get on the phone with the insurance company and insist that they explain it to you thoroughly.

#5. Sit down and go through every expense that you have now and expect to have in the future. By doing this you can come up with a good “ballpark” figure of approximately how much life insurance you’ll actually need to purchase. Everything goes on this list, food, house payment, clothing, pet care, ect,.

I hope that these tips have given you some ideas that will get you on the right path to finding affordable life insurance. Good luck!

Life Insurance Quandary   by Donald Lusan

We all know that at some point in our lives the prudent thing to do is to buy some life insurance. Some people have definite ideas as to the type and amount necessary to fulfill their needs. Others find themselves in a decision making dilemma. These people don’t know how much to buy or what type…

You may say the easiest way to go is to ask a life insurance agent. If you know a reputable one that sells for a highly rated company then go for it. If you don’t then here are some guidelines that you may find useful.

Single Persons Insurance Needs

If you are single then the amount of life insurance needed is whatever it will cost to pay off your last expenses including funeral costs. I refer to things like paying off outstanding debt that may leave a loved one holding the bag. Attorneys fees and estate taxes should also be included.

Needs Of A Married Person With Children

A married persons needs are a different matter, especially if there are children involved. Both parents work, more often than not, in todays world. Both help with the maintenance of the household. If either parent dies serious financial problems could come into play. Regardless of whether or not the income is coming in the bills have to be met. The rent or mortgage has to be paid, the survivors have to eat and they also have to wear clothes. They will continue needing a car as well as sufficient funds to pay utility bills.

Every child today is involved in something. It could be some kind of sport or other extra curricular activities. All these things cost money.

What you need to think about is that the cost of living, for a particular household, is not going to change very much because one of the breadwinners is no longer there…unless that person is very extravagant. If it costs $50,000 to live now, for example it will cost close to that amount after a spouse dies. We should therefore purchase sufficient life insurance to assure the continuation of that persons income after death.

Now, what type of life insurance should we buy. Term life insurance is a favored choice but there are many term plans to choose from. Here is what you do. Decide how long a period you will need the policy for and buy a level term policy that will fit that tome period.

Your youngest child is age 12. S/he is expected to graduate by age 18 but you also have to figure in 4 years of college. You therefore need to buy a policy that would provide sufficient income until this child is age 22. You also should add an amount which would cover the college costs for all the children if you died. The same consideration goes for your spouse. A 10 year or 15 year term policy would take care of this situation.

You may also want to consider providing the life insurance coverage for a longer period of time so that tour spouse is also taken care of. In this case you may want to purchase a 30 year term policy. You can convert it to a permanent plan within a specific period of years, depending on the company you are dealing. On the other hand, you may choose to buy a permanent policy like whole life, universal life, variable universal life or variable life policy which will give you the coverage from the outset and continue for a longer period.