In our daily life, whether we are watching the TV, reading our newspaper or even browsing our social feeds of our friends or closed ones, we may chance upon ads of life insurance. I believe most of us have heard about it but I am not surprise some of us do not have one. They may not even know what one is hence they are not pretty much concerned about getting one too.
Some people may know what a life insurance is but they usually easily get confused with medical insurance and that’s why in this article, we are going to share with you what one is, why it is important that you get one and what are some of essential tips you can follow to get life insurance quotes online to get started.
What it comes to medical insurance, you can be rest assured that your medical bills will be paid by the insurance company when you fall sick. However, most of the time, it only benefits yourself alone but not your beneficiary (could be your loved ones or relatives depending who you determine on your beneficiary declaration form). The benefits of life insurance overcome this by providing monetary compensation to your family members or loved ones in the event of your death or physical disabilities. In this way, they do not have to worry about all the financial obligations that they have to face when you met such mishaps i.e. funeral expenses.
Next, we are going to discuss why a life insurance is important and why you should get one. Think about this: If you truly love your family, do you really want to add extra burden to them should anything happen to you? Grieving is already very painful process and imagine of all the money problems that add on, do you think you are fair to your spouse or loved ones if they are going to bear all these? Nobody likes to plan for their own funeral but for the sake of your loved ones, you really have to consider getting a life insurance to get yourself fully covered for all these so that your family members can lead a better life too.
So now you could have made up your mind that a life insurance is really important and after some consideration, you have decided to go ahead to get one for yourself. You may wonder next, how much does it cost to get one? Well, I can understand because you may need to work out your sums to see if you can afford one based on your current financial status and commitment. Well, different life insurance policy cost differently but the rule of thumb is; it depends on the amount of risk they are taking on you. If they need to take a low risk, your premiums (the amount of money you need to pay them every month or year) will usually be low. Vice versa, if they incur a high risk protecting you, naturally you need to pay more. The usual determining factors will be as follows,
1) Your age
2) Previous and current medical history or condition
3) Whether do you smoke or drink
There are different types of life insurance packages out in the market too. They are whole life, variable life and term life and each of them has the own coverage and benefits as well as their fees too.
Lastly, you could have worked out your sums now and fully confident that you can afford one and ready to get one too. Next question you may ask, how do you go about finding one? Most people will face this problem and you are not the only one. Our suggestion to you for a start is to get the information you need on the internet and get some quotes online to make comparison too. There is no need to run around visiting different insurance companies and making phones calls, when all the information you need, can be found online. All you need is just a working PC or laptop and use our friendly search engines to search for the insurance companies that can send or display their quotes to you online so there is no need to fax or email around and waste your waiting time.
To get insurance quotes online, here are some essential tips you may like to follow. Firstly, avoid giving out your personal information to the insurance company website since you are doing the first round of information gathering. To generate a quote for you online, the company does not require your social security number, phone number or residential address. Hence avoid sending such information to them. However, some companies do require your email address to follow up with you and send more updates to you in future. You should decide on your own whether you wish to give it to them but our recommendation is not to do so. You should only give your personal information only if you have decided on a particular insurance company and you are ready to get a policy from them.
Next, if possible, find a company that has access to many other companies. Such companies usually provide you with very comparative rates. Our 3rd tip for you is to be as honest as possible to ensure that you get the most accurate quote. Then, always remember to check out the financial rating of the companies that you are getting quotes from. Do some background checks as I believe you wouldn’t want to go for those fly-by-night ones. Lastly, when being asked to fill up an online questionnaire, try to go for those that will get basic information about you i.e. age, height and weight, gender or even most recent blood pressure or cholesterol readings. This will also provide you with a more accurate quote than one that is artificially low just to attract you to engage them.
Above are just some tips to help you get started when searching for life insurance quotes online but most importantly you must do your homework well.