Life Insurance Needs Calculator
We have been talking about news, trends and why having life insurance is important, but on occasion we feel it is important to review the very basics of life insurance and what the definitions really mean.
Consumers often hear the phrase, “term life insurance” and may be unclear about how it is different than permanent life insurance. “Term” simply refers to life insurance that is temporary, meaning that it is coverage for only a specific period of time. Because there is an assigned term period, it is considered to be the best life insurance value because it provides the largest amount of coverage at the lowest price of all options.
When shopping for term life insurance, you will want to be sure that the premium rates quoted are guaranteed for the full term of the policy. While that may sound like it is a given, know that some companies may quote lower rates but only guarantee the rates for half of the policy’s term. So the cheap policy you thought you had turns out not to be such a great deal in the end.
At Compass Quote, we only quote term policies that are guaranteed for the full term, whether that is 5, 10, 15, 20, 25 or 30 years. To help you better understand the different types of life insurance, we also feature a Frequently Asked Questions about life insurance so you are clear about what you are receiving information about. Of course, we also welcome your call!
When considering life insurance needs, consider CompassQuote to lead you to the best policy for you and your family.
Albert is a term life insurance expert and provides great insight for people looking to get the most out of their life insurance policy.
