Online Whole Life Quote
You may want to know why you should get a whole life insurance online quote. Separate and apart from the reasons you buy life insurance it may be worth a few minutes of your time to think about getting a whole life insurance online quote.
You buy life insurance to protect your loved ones. You want to be assured that they can continue on after your death. You approach the task with great passion. This is very important to you. You want your insurance now.
For a long time the normal thing to do was to either call a life insurance agent who you knew or get in contact with one of the better known life insurance companies. You would set an appointment with an agent and proceed with your business from there.
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The Internet has made things so much simpler. You no longer need to contact the insurance company or wait for an agent to come and see you. Anything can happen between the time you call them and the time you actually make the purchase. You, of course, could be dead by then but that is not the worse thing that could happen.
The frightening fact is that you could be rendered disabled. This could come about by some ailment coming to light or it could be caused by some type of accident. If you are disabled you may be rated by the insurance company because you are disabled or your application could be declined by them.
You might decide you are going to take up a hazardous avocation like deep sea diving or automobile racing. These things can also cause you to get a rated policy or not get any insurance at all. Did you know that a student pilot is rated by most life insurance companies. Until you get to that level where you have sufficient hours in the air to make the insurance company feel comfortable about you life insurance can cost you more.
The beauty about today’s world is that you can get your whole life insurance online quote and even buy your policy on the spot in many cases. Life insurance companies have been selling term life insurance on line for a while now. Whole life insurance is now also available.
As whole life insurance does more than term it is important that you take the time to look at how these policies work.
- Death Benefit
Your whole life insurance online quote will show you the cost for a particular amount that will be paid if you should die. You decide how much you want. One of the things that your whole life insurance online quotes will not show is that this money need not be paid in one lump sum. You can choose to have it paid in the form of a monthly income.
If the amount of your policy is large a monthly income may be the best way to have the proceeds paid. Of course there are other factors that need your consideration before such a decision be made.
- Cash Values And Dividends
Whole life insurance policies provide you with cash values which can be enhanced by dividends, if the life insurance company earns a dividend. If in the future, for some reason, you decide you no longer have a need for your whole life policy you can surrender it to the life insurance company for it’s cash value.
In the early years these cash values are less than you paid in but the older the policy gets the closer the surrender value comes to the amount you have paid in. Eventually your cash value plus your dividend can far exceed the premiums you paid into the policy. Please bear in mind, however, that dividends are not guaranteed.
- The Premiums
When you get your whole life insurance online quote you will notice that the premiums are much higher than those of a term life policy. There are many reasons for that. Separate and apart from the fact that you can get back a considerable portion of you premium upon surrender dividends can be used in other ways. Your dividend can be used, as an alternative, to reduce premiums. As the years go by the same insurance will cost considerably less in premiums.
- Paid Up Additions
Your dividend can also be used to purchase what is known as paid up additions. These are small fully paid up whole life policies. Upon your death the actual amount paid to your loved ones will be more than you originally contracted for as a result.
Because the insurance companies are getting more comfortable with the idea of providing whole life insurance online quotes the best of these policies can be purchased instantly. One of the more encouraging conclusions is that the bigger and better life insurance companies are providing whole life insurance online quotes as well as selling actual policies online.