Term Life Insurance covers you if you die during the term of the policy.

It is less expensive than whole or permanent life insurance that will cover you when you are statistically much more likely to die.

For example:  You can purchase 10, 20  or 30 year term life insurance, during the 10, 20 or 30 years of the term you will be covered.  When the term is over you no longer have coverage.

Term life insurance makes a lot of sense for many reasons.  It is a great financial tool for income replacement in the event of an untimely death, IE if you are the primary income earner and you were to pass away term life insurance can replace your income fairly inexpensively with a lump sum death benefit to your spouse or beneficiary.

Additionally it can be used for Mortgage Insurance or Debt Insurance.  For example if you have a $500,000 mortgage Continue reading “What is Term Life Insurance?” »

In this Article from LIMRA,

The author reports that 26% of consumers purchasing life insurance prefer to do so directly.  This seems intuitive given the vast change in the way that most folks shop for term life insurance online now.

What once was a much more complex product and purchase is now fundamentally simpler given the term life insurance chassis that most are familiar with.  If you pay x you receive Y death benefit for a certain number of years.  With whole life or Permanent Life insurance being much more complex it seems that it is less likely to be purchased over the internet, however at TermRateQuote.com we do sell our fair share of Whole and Permanent Life Insurance, it is just that the education process with the end user is more involved.

The most interesting part of this article stated that " The study also found that consumers generally view life insurance as a necessity, with 86 percent agreeing that most people need life insurance. However, the figure drops to 70 percent when people are asked if they personally need life insurance. Only 63 percent of individuals surveyed say they own some sort of life insurance, which is similar to other recent research conducted by LIMRA in 2010. "

So we know we need life insurance, but only 63% of us have it…  So what that tells us is that there are a vast amount of folks out there who really do need some sort of life insurance.  For mortgage or debt protection, for income replacement, for college expenses, whatever your need please do consider obtaining a free online life insurance quote.

Let me relate a story – I was at a luncheon the other day.  I mentioned that I was a life insurance agent to a woman I was sitting next to and she began to tell me a story.  The story of her husbands premature passing.  This woman personally thanked me for what I do and it was very touching to know that she was in so much better of a place than she would have been had her husband chose to be one of the 37% of people without life insurance.  

In the life insurance business claims are a double edged sword on a personal level.  One hates to see an untimely death, but when you consider the alternative of an untimely death without a life insurance payout it really makes you happy that the insured chose to protect their loved ones.

Back to the underlying premise.  Many folks are shopping for life insurance online, it is easy, convenient and fast.  TermRateQuote.com is your source for quick underwriting and all the best carriers.   Having agents in every state we can get you in the right coverage for the right price.