term life insurance – Pennysaverblog

General

5 Term Life Insurance Money-Saving Tips

One topic that a lot of us don’t particular like to discuss is death. And yet, being that it is a reality that all of us will have to face at one time or another, for the sake of the ones that we leave behind, it’s important that we make wise financial decisions. This would include taking out a life insurance policy.

If after doing a bit of research, you’ve decided that you want to take out term life insurance policy, you’ve already chosen an option that is pretty affordable. But if you’d like a few tips on how you can get this kind of insurance at an even cheaper rate, we have provided you with some money-saving tips below:

Get term life insurance while you’re young. Age, when it comes to getting insurance, is interesting. On one hand, when it comes to car insurance, the younger you are, the more expensive it tends to be. At the same time, when it comes to term life insurance, there’s a greater chance that you can get it at a good price if you’re a younger age and in good health. So, if you’re looking for some great rates on term life insurance, don’t wait. Get it as soon as possible.

May 17, 2014

General

Comparing Term To Whole Life Insurance: Which Is Right For You?

Most people don’t spend undue time worrying about an early demise when they’re still young, healthy, and seemingly invincible. But all it takes is one serious illness or injury or the death of a loved one to remind us that we’re only human, we’re fairly fragile, and that life is fleeting. In short, many adults, at some point, start to consider what kind of mess they’ll leave behind when they pass away. This can prompt them to explore the prospect of writing a will, letting a loved one know where important legal documents are kept, and of course, purchasing life insurance. But you’ll find that there are many different options when it comes to life insurance policies. The two most common categories, however, are term and whole life. The only question is, how can you decide which is right for you?

Although both term and whole life insurance will pay out in the event of your death during coverage, this is about the only way in which the two types of policies are the same – from there they diverge considerably. As you might have guessed from the names, term life insurance covers you only for a specific length of time, determined when you start coverage, whereas whole life insurance is good for life (although in both cases coverage is dependent on your ability to continue paying for the policy you have selected). So far, whole life sounds better, but don’t get ahead of yourself.

October 26, 2013