Every individual has different life insurance needs, and if you are looking for either whole life insurance or universal life insurance your first place to start is by obtaining a permanent life insurance quote. Permanent life insurance is one of the most common types of life insurance and through media such as television it is one of the most advertised.
However, many people feel there is no need to get a permanent life insurance quote because they feel purchasing permanent life insurance coverage is a waste of money. I realize both sides of the issue, and the purpose of this article is not to swing you either way, but to explain how permanent coverage can be used.
Before we dive into why someone would consider purchasing permanent life insurance I would like to address some of the reasons why people are against permanent life insurance quote. The first reason people are against permanent coverage is they feel you only need life insurance when you have financial obligations such as children or a mortgage. They feel once these financial obligations are gone you no longer need coverage later in life. For this reason, term would be the much better option.
The second reason people are against permanent life insurance quote is due to its higher price than term life insurance. Permanent life insurance is often much more expensive than term life insurance since you are locking in your rates for the rest of your life. Since the insurance company is taking on the risk of insuring you for the rest of your life at a “locked in” premium than they must charge a higher rate. Term life insurance premiums can be kept low since your rates are only locked in for a specific period of time.
Despite all of the negativity surrounding permanent life insurance it remains one of the most purchased types of life insurance, and we provide many permanent life insurance quote. The most common reason why people are looking for a permanent life insurance quote is because they want a policy which will be there for them the rest of their life, without having to worry about a rate hike at some point. This allows people to budget for a specific premium for the rest of their life.
Many people have a life insurance need which will not vanish at some predetermined point, which is where a permanent life insurance quote comes in. Especially for burial needs and final expenses it is important you obtain a policy which will last your entire life. This gives your family the peace of mind to know when you pass away they will not be paying out of pocket for all the final expenses. Term insurance is wonderful for needs which will end at some point, but permanent insurance is there for the long haul.
Once you have decided permanent life insurance is a great option for you and your loved one’s then the next logical step is to find a permanent life insurance quote. However, many different permanent life insurance options exist from whole life to universal life insurance. Our online life insurance quoting tool will allow you to run permanent life insurance quotes for guaranteed universal life insurance policies. These are permanent life insurance policies which will lock your rates in until a certain age. These ages can range from 80’s all the way until age 121.
Permanent life insurance can be a more complex subject than term life insurance so it is imperative to work with an experienced independent agent. We can make sure a policy will meet your needs and be there for your beneficiaries if it is needed. We can also explain the different advantages and disadvantages of each type of permanent life insurance policies.