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Six Questions For Your

Insurance Agent

Here, from Fox News are the six most important questions you should ask you insurance agent before you sign up for home insurance.

Auto Insurance From

Google?

Google is now licensed to sell auto insurance through its online comparison site. Here’s the latest from Bankrate.com

Health Insurance

Prices

Want to know which states have the highest and lowest health insurance rates. Here’s the lowdown from NPR.org
Life Insurance Info Life insurance is a contract signed between the company and the insured. The contract calls for the payment of a set amount of money to the insured’s heirs in case of death. The amount paid is lump-sum and depends on the nature of agreement and duration of contract. Getting a life insurance is necessary if you do not want to leave your heirs in jeopardy. This will make life easier for them in case something unfortunate happens to you. It will also protect you against inclement financial conditions. This is particularly true of term life insurance. You can get life insurance by making monthly payments known as premiums. Why You Need it? It is a good idea to get life insurance so as to secure the future for your heirs. No one can be sure of one’s life. You can get involved in a car accident that could prove fatal. Who could take care of your kids? This is where the life insurance comes in and fills in the financial loss to some extent. Loss of human life and a loved one obviously cannot be fulfilled. You can still ensure steady income and financial support for your heirs. There are three types of life insurance policies. There are many variations within these types but overall policies stem from three main types of insurance contracts. 1. Term Life Insurance Term life insurance is a contract signed between the insurer and the insured for a set period of time. It could be for a 10-year term or a 20-year term with the maximum being 30 years of coverage. Completion of the term will get you or your heirs the lump-sum amount equal to the face value of the contract. Interest is also accrued on this type of insurance at varying rates. Premiums are usually collected at a level rate. Term life remains the most popular type of insurance given its simple terms and conditions. 2. Universal Life Insurance Universal life insurance can cover you for life. It does not come with any term limits. You can have the policy covered you for the next 40 or 60 years or even longer. Universal life insurance comes with cash value benefits, which are calculated on current interest rates. Premiums are adjustable in this type of insurance and cash values can also fluctuate as well as the level of protection. You can use it as a more flexible alternative to term life. 3. Whole Life Insurance The least popular of all types, whole life insurance also offers life-time coverage. Unlike universal life, this type of insurance contract has more rigid terms. Premiums usually remain the same and you have little options of changing the nature of the contract. Death benefit is guaranteed as in other insurance contracts and it does not come with any term limits either. It is a good idea to get enough information about life insurance before entering a contract. This will enable you to find a favorable quote and ensure a secure feature for your heirs.
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