Cheapest Life Insurance ?

Question

Cheapest Life Insurance ?

Answer 1

Term is the least expensive life insurance. NEVER buy any type of permanent, cash value life insurance (whole life, universal life, variable life, variable universal life, flexible life, adjustable life, s***w you life, ect). It is typically 5 to 7 times as much as term for the same coverage. But do your homework before you buy. Make sure the premium is guaranteed for the length of term you are buying. Some companies will sell you a 20 year term but the premium is only guaranteed for 10 years. I don't know how they call that 20 year term, but they do. Also, buy a policy that will last long enough for you to get the kids raised, house paid off, money saved, ect. If you're 30 years old, don't buy a 10 year term. That's what my brother did and he became un-insurible. Now his 10 year term policy expired and he has no insurance. He should have bought a 30 year term. Hope this helps.

Answer 2

Check out http://www.lifesettlementsandyou.com  They're pretty reasonable and very helpful.

Answer 3

Term insurance...just make sure you're buying for a period of time that makes sense.  If you have a 2 yr old child, don't buy a 10 year term unless you expect them to support the family when he/she's 12.  

Feel free to use the tool on my site which quotes ~150 different carriers.  

Jeff

http://www.insurancepickle.com/life-insu...

Answer 4

Term life insurance is the cheapest type of life insurance but it may not be necessarily the type of life insurance that you need.

Term is best suited to cover short term financial obligations such as mortgages, auto loans, other loans, financial support to help a surviving spouse finish raising children, certain business exposures, etc.

If you are looking for life insurance for the long term then you would probably be better served by purchasing what is know as whole life insurance.

To compare rates from some of the top life insurance companies I would recommend using free on-line insurance quoting services such as:

http://www.kqzyfj.com/click-2952034-1039...

http://www.jdoqocy.com/click-2977717-104...

http://www.shareasale.com/r.cfm?b=38094&...

http://www.dpbolvw.net/click-3014621-103...

http://www.usinsuranceonline.com/usio/in...

http://click.linksynergy.com/fs-bin/clic...

You also might try http://www.InsuranceEasy.org this is one of the best consumer insurance sites that I have come across. They not only provide links to free on-line quoting services but they also have a lot of resources to help consumers understand the different types of policies available and their differences.

By using these free links and doing a little reading on their site you should not only be able to find the best rate but also find the best plan for you.

Hope this helps.

God Bless!

Answer 5

USMC. u get insured with 400,000 dollars plus another 100,000. all u need is a signature

Answer 6

In the short term—literally—term life insurance is the cheapest. According to the latest survey by Insure.com, at age 35, you can get a 10-year term life insurance policy with a death benefit of $250,000 for just $108 a year. A 20-year term life policy worth $250,000 would cost $153 a year, and a 30-year policy would cost $250 a year. The lowest annual prices for a policy with a $500,000 death benefit are $155 for a 10-year policy, $245 for a 20-year policy, and  $375 for a 30-year policy.

The trouble is that even a 30-year policy will insure a 35-year-old only until age 65. If you think you might need insurance beyond that point—because your spouse will be dependent on a death benefit to maintain a lifestyle—then you might consider getting a form of permanent life insurance, such as whole life or universal life.

You might think that you can get another term policy when the first one expires, but insurability is not guaranteed. If you gain weight or develop a serious illness, you might not be able to afford the higher premiums, or you might not be insurable at all. Even in ideal health, you will pay much more for term life over the age of 50 than you would earlier, erasing some or all of the savings realized during the term of the first policy. Permanent life insurance—such as whole life or universal life—will not expire and the payments will not go up based on the health, weight, or age of the insured. Permanent life insurance costs more initially, but it is a practical solution for consumers who worry about coverage and insurability later in life. In addition, whole life builds cash value over time, and the accumulated cash can be used to pay the premiums once you have retired or can serve as collateral as a loan. Permanent life insurance costs upwards of ten times as much as term life insurance.

Answer 7

Things to remember... Cheapest is not always the best idea.  The cheapest life insurance out there is probably 5 Year Term.  While it is inexpensive, it only lasts for 5 years, as it states.  You need to probably sit and talk with a local rep to determine what coverage you need, it isn't as easy as some people think, and contrary to what Eric J stated, sometime the whole life or universal life is what could work best, depending on the amount of coverage you need.  If you only need $100,000 or $50,000.. and your 25-30 you should defiantly look into universal or whole life, as when you are 70 or 80.. it will still be the same premium you will pay today and the value of the insurance policy will have increased over the last 30-40 years, making it worth more than the original $50k or $100k you purchased... best bet would be to contact a local insurance agent, most of them do not charge anything to sit amd discuss your options... it won't hurt I promise.