What is the best Life Insurance?
Most everyone asks the question at one time or another: "what is the best life insurance policy for me?" While there is no one specific policy that fits every need, it is also not that difficult to figure out what you need for your particular case. Assuming you already know you have a need for life insurance protection you only have to find the type of policy for your needs. Here is quick look at the basic life policies and what they will give you.
Basically there are only 3 types of life insurance policies available. Each one then has several variations to it. The key is to find the best life insurance policy to fit you and your families specific needs and financial resources.
Nevertheless, many people will say it is term insurance due to the low costs involved. As the cheapest available, term life covers you for a specified term, or period of time. After that you must renew the policy and qualify medically for it. The policy pays your beneficiary the amount of your coverage in the event of your death during that time. Proceeds from term insurance, or any policy for that matter, are not subject to federal or state income taxes to your beneficiary. The rates for term insurance are lower for younger ages and increase as you grow older.
Another one of the best policies available is whole life. While it costs more than term insurance, the policy will accumulate cash value over time. In a basic terms, think ot it as insurance with a savings account attached. Premiums for whole life are set at the time of purchase and remain the same for the life of the policy. A persons age and health will determine the premium amount. As your policy accumulates cash value you may take this cash out, or borrow against it. This can give you a cushion during tough economic times when you need some extra cash.
What Type of Life Insurance Is Best for You?
If you are looking for a basic, low cost life insurance plan choosing term life insurance would be your best option. Term life will give you a certain amount of life insurance for a specific term. Term life insurance is a good choice for people on fixed incomes and with families.
Cash-Value life insurance (whole and universal) is more expensive but has the benefit of building a cash value that you can borrow against. This is a good option for someone interested in having a life insurance plan well into their retirement years.
Who is the best life insurance provider?
AThere is no one clear best provider. Each company has their own strengths. Some are great for a certain term insurance, some are great for joint coverage, some are great for universal life insurance, some are really cheap but not financially stable, some are very financially stable but not really that competitive with pricing, etc Your best bet is to meet with a liscensed insurance broker who has access to multiple companies. Explain your situation and they will find the best company to suit your needs.
AThere are SO many providers out there, it's hard to say, especially if there are preexisting conditions that could complicate coverage. Try looking at a comparison site that looks through hundreds of programs for the ones that are best for you. You can check out http://creditablecredit.net/articles/Health-Insurance for a couple of the big comparison sites. Good luck!
Most everyone asks the question at one time or another: "what is the best life insurance policy for me?" While there is no one specific policy that fits every need, it is also not that difficult to figure out what you need for your particular case. Assuming you already know you have a need for life insurance protection you only have to find the type of policy for your needs. Here is quick look at the basic life policies and what they will give you.
Basically there are only 3 types of life insurance policies available. Each one then has several variations to it. The key is to find the best life insurance policy to fit you and your families specific needs and financial resources.
Nevertheless, many people will say it is term insurance due to the low costs involved. As the cheapest available, term life covers you for a specified term, or period of time. After that you must renew the policy and qualify medically for it. The policy pays your beneficiary the amount of your coverage in the event of your death during that time. Proceeds from term insurance, or any policy for that matter, are not subject to federal or state income taxes to your beneficiary. The rates for term insurance are lower for younger ages and increase as you grow older.
Another one of the best policies available is whole life. While it costs more than term insurance, the policy will accumulate cash value over time. In a basic terms, think ot it as insurance with a savings account attached. Premiums for whole life are set at the time of purchase and remain the same for the life of the policy. A persons age and health will determine the premium amount. As your policy accumulates cash value you may take this cash out, or borrow against it. This can give you a cushion during tough economic times when you need some extra cash.
What Type of Life Insurance Is Best for You?
If you are looking for a basic, low cost life insurance plan choosing term life insurance would be your best option. Term life will give you a certain amount of life insurance for a specific term. Term life insurance is a good choice for people on fixed incomes and with families.
Cash-Value life insurance (whole and universal) is more expensive but has the benefit of building a cash value that you can borrow against. This is a good option for someone interested in having a life insurance plan well into their retirement years.
Who is the best life insurance provider?
AThere is no one clear best provider. Each company has their own strengths. Some are great for a certain term insurance, some are great for joint coverage, some are great for universal life insurance, some are really cheap but not financially stable, some are very financially stable but not really that competitive with pricing, etc Your best bet is to meet with a liscensed insurance broker who has access to multiple companies. Explain your situation and they will find the best company to suit your needs.
AThere are SO many providers out there, it's hard to say, especially if there are preexisting conditions that could complicate coverage. Try looking at a comparison site that looks through hundreds of programs for the ones that are best for you. You can check out http://creditablecredit.net/articles/Health-Insurance for a couple of the big comparison sites. Good luck!
