10 Great Life Insurance Options
Life insurance companies are competitive and can be intimidating to new clients. It’s important to have your facts together before determining the company and the policy. Do your homework and check out these 10 great life insurance options.
Term Life Insurance
Term life insurance is a death benefit without cash value. It’s for a specified length of time like a year, 10 years or longer.
Policies geared to athletes offer benefits for those who exercise regularly. Discounts are applied based on activity. A family history of adverse health conditions could be waived if you’re healthy and active.
No Medical Exam
Policies that don’t require medical exams save time, money and possible bad results. If you don’t have a check-up, you don’t have the risk of a bad blood pressure reading, blood test or other outcomes.
Permanent Life Insurance
Permanent life insurance is different from term. With it, you do have a cash value and there is no time limitation. Compare the differences before deciding on your policy.
Whole Life Insurance
Whole life insurance is a type of permanent policy. Premiums remain the same regardless of the age. Some offer dividends to policyholders, which brings in a little cash.
Life insurance policies that go directly to the company saves money if commissions are waved. Many online insurance companies leave out the middleman to save you on premiums. All the work is done on your computer.
Universal Life Insurance
Universal life insurance is a flexible permanent policy. The policyholder can choose how much of the premium goes toward the death benefit and how much goes to the cash component.
Quick applications can be done in as little as 10 minutes. Most of these are found online, saving time and paperwork.
Life insurance policies offer options of high values on the death benefit. These can be upwards of $10,000,000 with 10-30 year policies.
Variable Life Insurance
A variable life insurance policy is another great option. It’s a permanent policy with death benefits and cash components. The cash value can increase based on investments in equities, but it can also go down. There’s a guaranteed amount.