Are you shopping for affordable term life insurance? Here are some questions to ask life insurance companies when you shop around for a term life insurance quote.
- Are insurance rates fixed or variable? Variable rates on a term life insurance policy can give you a nasty surprise with your budget. If the policy does have variable rates, find out the exact terms and amounts.
- Is the policy renewable at the end of your term? You’ve paid a lot of money into a life insurance plan. Make sure you can renew it at the end of the term to continue your coverage uninterrupted. You may also want to find out if a medical examination is required at the end of the term before renewal.
- What exclusions exist with the policy? Many term life insurance plans have reasonable exclusions—but you’ll want to find out what they are so your loved ones don’t find themselves without term life insurance coverage if something happens to you.
A solid term life insurance policy or whole life insurance is a smart investment for anyone. But if you have children, insurance is another one of the responsibilities that comes with parenthood.
Many single people have no dependents, therefore, they can get away with a modest insurance policy that will cover their funeral expenses when they die. But when you get married, buy a house, and become a parent, your lifestyle expenses mount. There’s a lot to think about and to pay.
Here are just some of the expenses you’ll want covered for your spouse and children. Insurance can help take care of it all.
Is it ever too early to start shopping around for life insurance for your baby? Baby life insurance is more than just coverage in case something terrible happens to your baby or child. Baby life insurance in the form of a whole life insurance policy like the Gerber Life Grow-Up Plan actually creates a solid nest egg for your child.
The baby life insurance policy coverage doubles during the year your child is 18, and provides premium rates at up to 60% less than plans purchased as an adult. When your child reaches age 21, he or she has the option to:
- Cash out the policy to reinvest or pay for adult expenses
- Extend the policy at lower rates than they would get if they were to apply for a new life insurance policy as an adult
The Gerber Life Grow-Up Plan cannot be canceled by the insurer for any reason, and your child will not be turned down for additional coverage through the plan, as long as premiums are paid.
No parent wants to think about their child needing life insurance. After all, life insurance is designed to cover funeral expenses when you die, and help your loved ones continue the same standard of living they had before your death.
Some people claim that, because a child has no dependents to support, they don’t need life insurance. But that’s only half the story. Here are three important reasons to buy your child life insurance today.
If you’re purchasing life insurance for the first time, selecting a life insurance company can be a confusing process. Here are three things to look for in a life insurance company.
- Life Insurance Policies Offered
If a company doesn’t offer the type of life insurance coverage you’re looking for—whether that’s a whole life insurance plan or affordable term life insurance—you’ll want to look elsewhere. Search life insurance company websites or call a representative to find out if a company has a policy to fit your needs.
- Stability and Reputation of the Life Insurance Company
A life insurance policy is a long-term investment. You want to be sure your money is safe, and that your life insurance company will cash in your policy under the agreed-upon terms. Check Better Business Bureau ratings and look for a company with a long-standing, solid reputation.
- Life Insurance Cost
You shouldn’t shop for life insurance based on cost alone, but it can be an important deciding factor. Make sure the life insurance company you select offers fair rates for the amount of coverage you need.