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Can Shopping for Life Insurance Online Save you Time and Money?

If you’ve realized that life insurance is important and worth looking into, that’s great! But are you starting to feel a little anxious about where to start looking, and how to begin comparing plans? Fortunately, you have the ability to shop online with ease and comfort these days – but how do you know if you’ve found the best option for you, and the most savings? Will searching for life insurance online really save you time and money? The short answer is yes, but the long answer is that you have to work with a reputable agent and insurance company, so you make sure you get what’s right for you and your family. Luckily, we can help!

illustration of a hand with a blue curve over the pointer finger — *Shopping online won’t necessarily save you money, but it is more convenient.*

Can You Save Money?

We know you want to save as much money as you can when you’re shopping for insurance, and we don’t blame you! Saving money is important when you have responsibilities and a family that you need to take care of. And we get it, many people think that life insurance is expensive, but it is possible to find a great rate and save money by shopping for a plan online! Life insurance rates will be the same, whether you meet with an agent in person or work with one online: there won’t be any special deals that you’re missing out on by shopping online. But it will be more convenient for you, and you can save money when you do the proper research and have an agent help you compare different plans from different reputable companies.

Can You Save Time?

You can absolutely save time when you shop online for a life insurance policy. You can avoid having to travel to different life insurance agencies to learn about the policies they offer, and then having to take all of that info and try to compare plans before making a decision. When you work with an agent online, you can sit back in the comfort of your home while they will do all the work for you, saving you both time and money. You will not have to go back and forth researching and comparing different policies from different companies; instead, you can save time by working with an agent online from one of the companies below.

Working With A Reputable Company & Agent

Licensed agents can compare plans in minutes, and help you find a policy that is right for you and your family’s needs. They will go over your needs and help you figure out how much coverage is right for you – shopping for life insurance doesn’t have to be a time-consuming and anxiety-inducing experience if you use online tools, or speak with an agent.

Choosing the right life insurance policy will ensure that your family gets the benefits they need. It might seem complicated and frustrating to find the right policy for you, but it can be done, with some help. The best way to find the right life insurance policy for you and your specific needs is by working with an agent who specializes in life insurance. We have provided the top life insurance companies in the nation below; each offers hassle-free assistance and the most competitive rates. Always check multiple sites to make sure you have bargaining power and know the advantages of each company. Make sure a hard time isn’t made harder by a financial burden, check life insurance rates today.

8 Expenses That Life Insurance Covers

Life insurance is more versatile and useful than you might think. Not only is it important to have as a financial safety net for your family, but depending on the type of policy you have, you can also borrow money from your policy and use it for unexpected expenses. This can be very helpful if your family is trying to save money, and can help you or your family pay for any unexpected scenarios, whether you are around or not. Find out just why life insurance is necessary and why so many people choose to purchase an affordable policy.

1. Everyday Expenses

When you are gone, your family could end up struggling without your income to pay for everyday expenses. Life insurance will help pay for all their everyday expenses when you pass away, so your family will not have to stress out about their bills while grieving your loss. While you will not be able to take away their pain, you can offer them financial stability until they can adjust to the change. Your life insurance policy will help cover mortgage or rent payments, utility bills, groceries, and more.

2. Therapy Expenses

Losing a loved one is not easy, and for some, it can cause depression and other issues that require counseling or therapy. If your loved ones need this, they will be able to pay for it with money from your life insurance policy. Your benefits will help them pay for therapy or will allow them to take more time off from work to properly grieve.

3. Dependent Care

If you have small children who need to be taken care of, or if you have elderly parents who live with you, you know that care for them is expensive. Childcare can cost on average $15,000 a year per child. When you pass, your spouse will most likely need help with the children and/or taking care of their elderly parents, and your life insurance can offer this for them by providing the funds to hire a nanny or caregiver.

3. End of Life Expenses

Funerals are not cheap. Whether you choose to get buried, which can cost around $15,000-$20,000 on average, or cremated, which can cost around $6,000 on average, final expenses can be a burden for any family. Life insurance will help your family be prepared for the shockingly high funeral expenses they will face. All life insurance policies can help cover these costs, but if you’re looking for an affordable policy that is focused on covering them, a final expense life insurance policy is a great option. Final expense life will cover funeral costs and any other debts you might have, while other types of life insurance policies can help cover more.

4. Mortgages

Monthly mortgage payments could also become a burden on your family if you are no longer able to help out. You want to make sure your family can continue to pay for the house where they have made so many memories, rather than having to sell it to pay down debts and for other expenses. Life insurance can help maintain monthly mortgage payments.

5. Medical Bills

If you are diagnosed with a terminal illness, your care could become very expensive if you need to have extensive medical procedures/treatments, or need to be put in a nursing home. Life insurance can help pay for these bills during your final years, especially if you choose permanent life insurance, which builds cash value over time. This cash value can be used to help pay these bills while you are alive, and the rest of the policy will allow your family to receive a death benefit when you pass.

6. Continuing Your Business

Do you have a business that you worked hard to build? The last thing you want is for your business to fail after your death, especially since it could continue to be a source of income for your family. Life insurance can help sustain your business, and help your business partners cover any losses associated with your death.

8. Education Fees

If you have children and are saving for their education, you should consider a life insurance policy to help cover their education fees if you pass away before being able to save enough for these expenses.

Your family has financial obligations that will not go away when you are gone: they will need your help more than ever with their expenses, and the last thing you want them to worry about while they are grieving is money. The best way to understand how life insurance works, and find the right policy for you and your specific needs, is by working with an agent who specializes in life insurance. We have provided the top life insurance companies in the nation below; each offers hassle-free assistance and the most competitive rates. Always check multiple sites to make sure you have bargaining power and know the advantages of each company. Make sure a hard time isn’t made harder by a financial burden, check life insurance rates today.

Does Marijuana Use Affect Your Life Insurance Rates?

Over the past couple of years, marijuana has been legalized in more and more states, meaning marijuana use has become more common. And, while many people are now more accepting of the use of it, there are still some instances in which using the drug can be used against you. For example, some life insurance companies might view marijuana use unfavorably; however, that doesn’t necessarily mean you will be denied coverage, since different companies have different guidelines. Most insurers will want to know how often you use marijuana, among other factors. So, how will it affect your chances of getting a life insurance policy?

Do Smoker Rates Apply?

It probably comes as no surprise that smokers get charged more for any insurance plan they try to purchase, whether health insurance or life insurance, because smokers are seen as at a higher risk of death than people who do not smoke. Fortunately, though, many life insurance companies will classify marijuana users as nonsmokers, so rates will be lower for you if you use marijuana than they would be if you used tobacco products. You should be aware, though, that insurers will ask you how often you smoke.

How Often Do You Use Marijuana?

hand holding a white joint with the other hand lighting it up with a lighter — *How often you use marijuana will factor into how much your life insurance rate will be.*

Are you an avid marijuana user? Do you do it daily? Weekly? Monthly? How you answer this question can determine how much of a risk you are to the insurance company. You might not be labeled a smoker in their eyes, but you might still be considered a risk because, according to some insurers, marijuana use could possibly lead to long-term health effects. So if you occasionally smoke marijuana, you will have less to worry about, but if you smoke daily or weekly, life insurance companies might classify you as a greater risk, which means you will pay more.

Medical Exam Vs No Medical Exam

When applying for life insurance, you will have to undergo a medical exam, which will include a drug screening for marijuana and other drugs. If you plan on applying for life insurance, it would be in your best interest to not use marijuana for at least a month in order to lower your levels of THC (tetrahydrocannabinol). Insurers would prefer to see negative THC results, but the lower the levels, the more favorable the outcome for you.

If you want to avoid the medical exam altogether, your best bet is a no medical exam life insurance policy. These policies guarantee coverage regardless of any pre-existing condition or tobacco or marijuana use. Be aware, though, that some companies will require you to answer a health questionnaire; it is important that you don’t lie to the insurance company, which could lead to your family losing benefits in the event of your passing, and you losing your policy when the insurer finds out the truth.

Will Marijuana Use Affect Your Rates?

Marijuana use could affect your rates, depending on whether you are using it recreationally or medically. If you are using marijuana for medical reasons, and you put that on your application, your usage will be underwritten based on a medical condition. But if you use it recreationally, life insurance companies will have follow-up questions. Specifically, they will want to know how often you use marijuana, and will ask about such things as:

Your tobacco use– Are you also smoking tobacco while using marijuana? If so, you can expect higher rates.
Your mental state– If you have been diagnosed with or have a history of mental illness, insurance companies will take this into consideration.
Your driving record- If you have a bad driving record, life insurance companies will consider you a higher risk, and adding marijuana use into the mix makes you an even higher risk, since smoking and driving is considered a DUI.

Get The Best Rates

Whatever your opinions on marijuana use, life insurance is important to consider for your family when you are gone. Providing your loved ones with financial stability in the event of your passing will mean they won’t have to worry about money while grieving your loss. There are many different life insurance policies to choose from so you are sure to find the right one for you! The best way to find a life insurance company that will provide you with an affordable policy with great coverage, even if you use marijuana, is to shop around. To make the process easier consider using online tools, or speaking with an agent. We have provided the top life insurance companies in the nation that offer hassle free assistance and the most competitive rates below.

Don’t wait until you need life insurance to get it! Always check multiple sites to make sure you have bargaining power and that you know the advantages of each company. Make sure that a hard time for your loved ones isn’t made harder by a financial burden, check life insurance rates today.

Yes, People Over 65 Can Find Affordable Life Insurance!

As you head into a new chapter in your life, and look forward to retirement, you’ll have a lot to think about. For example, you’ll need to switch from private health insurance to Medicare, and figure out how to live on a fixed income; with all of this going on, you might overlook the importance of having life insurance at this stage in your life. Life insurance for people 65 and older is important, because it provides you additional coverage for those “what ifs” in life – but you might be thinking that it’s not possible to find an affordable life insurance policy at your age, or that you might not be able to buy one at all. Rest assured that is not the case: there are options available to you!

How Much Life Insurance Do You Need?

older caucasian woman holding a red question mark — *Before purchasing life insurance, you need to figure out how much coverage you will need.*

As we said, having a life insurance policy is important for older adults, but how much coverage do you actually need at this stage in your life? The amount of life insurance that you need will depend on what you want covered in the event of your passing: for example, if you still have mortgage payments or other debts that need to be paid off, you need to take those into consideration when choosing your coverage.

To work out exactly how much coverage you’ll need, think about your current income, as well as what your final expenses are likely to be, as well as possible nursing home costs that will not be covered by Medicare, and any other unpaid medical or hospital bills. Keep in mind when doing these calculations that the average funeral costs around $10,000 to $15,000 depending on where you live.

Your Life Insurance Options

Life insurance rates are based on your age, health, and the amount of coverage you need. The older you are, the more expensive life insurance premiums generally are; however, that doesn’t mean that there are not affordable options out there for people over 65.

Term Life Insurance

Term life insurance policies are a great option because you get to choose how many years you would like to be insured for: you can generally choose a policy that covers you for anywhere from 5-30 years. These policies are also very affordable, and provide higher benefit amounts for older adults than no medical exam policies do. These policies are best for people who are in relatively good health, and want to cover big expenses for a few years.

Permanent Life Insurance

This type of insurance is best for people who are in good health and want lifelong protection for big expenses. The only downside to permanent life insurance policies is that they are more expensive than any other types of life insurance. Just like with term life insurance policies, you will have to undergo a medical exam to qualify for coverage, and if you are not in great health, you could be denied or charged more in premiums.

Final Expense Life Insurance

If you just want enough money to cover your funeral expenses (which can be $10,000 or more), a final expense policy, or burial insurance, is your best option. This type of policy covers the expenses associated with your death, including funeral and burial costs, as well as any medical bills and other debts. You have the option to choose policy coverage anywhere from $5,000 to $50,000, depending on your needs, and you will not need to undergo a medical exam to be approved for a policy.

No Medical Exam Insurance

If you are not in great health or have some serious medical conditions, you have the option of choosing a no medical exam policy. You will not have to undergo a medical exam to be approved; some companies will still require you to complete a short medical questionnaire, while others will have a no-questions-asked policy. The only downside to no medical exam policies is that they are generally more expensive, because your life insurance company will be taking you on as a risk without knowing your health status.

How To Find An Affordable Policy

magnifying glass with an eye in the middle and a yellow background — *The best way to find an affordable life insurance policy is to research and compare life insurance policies.*

As previously mentioned, your rates will be determined based on your health and your age, which means a life insurance policy will be more expensive for you now as an older adult than it would be if you were younger and healthier. However, you can lower your rates by living a healthy lifestyle, including keeping any medical conditions under control with medication or exercise and changes to your diet. The same goes for if you are overweight: if you lose the extra pounds before you apply for your policy, you could save almost 50% on your premiums.

If you’re looking for the lowest rates possible, the best way to find them is by comparing life insurance policies from different life insurance companies. Each life insurance company has different criteria for their applicants, and one may consider a health condition more serious than another. To make comparison shopping much easier, and to find the right life insurance policy for you and your specific needs, work with an agent who specializes in life insurance. We have provided the top life insurance companies in the nation below; each offers hassle-free assistance and the most competitive rates. Always check multiple sites to make sure you have bargaining power and know the advantages of each company. Make sure a hard time isn’t made harder by a financial burden, check life insurance rates today.

Should You Have Life Insurance for Your Children?

We know what you’re thinking: life insurance for children? That’s not something I even want to think about! And why would I even need it? We understand that it’s not easy to think about the death of your child, because we all want our kids to live long, healthy lives, but as a parent you always need to think about the unexpected in life. That’s why purchasing a life insurance policy might be a wise financial decision – but is it necessary? Well, it depends: you will need to consider your family’s needs, and if it makes sense to purchase life insurance for your child/children.

What Is Child Life Insurance?

young girl hugging a man — *You can purchase a permanent life insurance policy for your child/children.*

Child life insurance is exactly what it sounds like: policies that cover the life of a minor, typically purchased by a parent or grandparent. Generally, these policies are a type of permanent life insurance, which means the policy will be in effect for your child’s entire life, and your child can take ownership of the policy when they turn 18 (or in some cases, 21). In addition, a portion of the premiums you pay grows over time, so your child’s policy will be building a cash value that they can use later in life.

Pros & Cons of Life Insurance For Children

If you’re considering life insurance for your children, and are unsure whether one of these policies is right for your family, think about the following pros and cons before deciding to buy a policy:

Pros

Guaranteed insurability for your child, which will be beneficial if your child develops a pre-existing condition, such as diabetes or high blood pressure, or if they choose to have a risky occupation later in life. If your child already has life insurance, they won’t have to worry about being denied by insurance companies when they’re adults.
The money that builds cash value over time can be used towards college, or for a down payment for a home when your child is grown up.
Children’s life insurance is helpful in covering unexpected funeral costs and grief counseling if necessary.

Cons

Your child can find affordable life insurance when they are in their 20s, and the chances that they will develop health issues are low until they are much older. Therefore, life insurance for your child might not be necessary.
Cash value takes time to grow based on your premiums paid, so it’s not necessarily a reliable investment for them in the future.
It is uncommon that a child will die when they are young, so the risk of going without life insurance for them might outweigh how much the policy accumulates over time. You can opt for a child rider in your life insurance policy instead if you want extra coverage for them.

Do You Need It?

If you are considering life insurance for your child or children, you should consider why you might need it, as well as assess your budget and determine if the benefits outweigh the costs. Can you cover final expenses if the unexpected happens? Do you want a policy that your child can carry with them for the rest of their lives, and will give them cash value for college, buying a car, or other expenses? Does your family have a history of hypertension or diabetes and you worry they will not be able to find affordable life insurance when older? Or do you think they will be okay and will be able to get an affordable plan when they are older?

If you are interested in providing your family with financial stability when you are gone, or are looking for coverage for your children, life insurance is the right choice for you. For low monthly payments now, you can make sure your children are taken care of later. Picking a life insurance policy is an important decision, but you have multiple coverage options, some with added benefits. To make the decision-making process easier, consider using online tools, or speaking with an agent. We have provided the top Life Insurance companies in the nation that offer hassle-free assistance and the most competitive rates below. Always check multiple sites to make sure you have bargaining power and know the different advantages of each company. Make sure a hard time isn’t made harder by a financial burden, check life insurance rates today.

Should You Pay Your Life Insurance Premiums Annually, Quarterly, Or Monthly?

When it comes to purchasing life insurance, you’ll have a lot of decisions to make, including how much coverage you need, who your beneficiary will be, and which carrier to buy a policy from. But you will also have to consider how you are going to pay for it: depending on the life insurance policy, you will have the option to pay your premiums annually, quarterly, or monthly. Each method of payment has its own advantages, and you’ll need to consider the following factors when deciding how frequently to pay your premiums.

Paying Life Insurance Premiums Annually

discount symbol in gold with a character in front of it with a calculator — *One of the benefits of paying your premiums annually is that you can get a discount from your insurer of up to 8% of your total premium.*

When deciding on how often to pay for your life insurance premiums, you will need to take into consideration your individual circumstances, including your budget and income. If you choose to pay your premiums annually, you will have to pay one lump sum every year, which can seem like a lot of money at once. But this method can be more convenient, since it eliminates the worry of having to pay your premium on time every month, and will free you from having to budget for your premium each month.

While paying a whole year’s worth of premiums in one lump sum is not in everyone’s budget, if you are considering this option and are unsure whether it makes sense for you financially, you should know that you can get a discount from your insurer of up to 8% of your total premium when you pay annually. These discounts can add up, and you could end up saving a lot of money, especially if you plan on keeping your policy for a long time.

If paying your premiums annually sounds like a good option for you, make sure you shop around and compare multiple life insurance policies, since different companies will offer different discount rates for paying annually.

Paying Life Insurance Premiums Quarterly

Some policies will also give you the option of paying semi-annually or quarterly, but this is less common, and is usually not ideal for most people, since you’ll have to make a large payment but will not receive the benefit of a discount like you would if you paid annually. But if you’re worried about missing monthly payments and can’t make one large lump-sum annual payment, a quarterly or semi-annual payment might be worth it.

Paying Life Insurance Premiums Monthly

hand holding a cell phone with the other pressing a button with a bank on the screen and money next to it — *Setting up autopay, or electronic fund transfer, from your savings or checking account will help you not miss a monthly payment.*

Paying your premiums monthly is the most common payment option for life insurance premiums. Depending on your income, it might be easier to fit smaller monthly premiums into your budget than it is to come up with one large annual lump sum. If you’re worried about missing a payment, you can use an autopay option, or electronic fund transfer, from your savings or checking account – in fact, many insurance companies will require that you do this.

When it comes to deciding how to pay your life insurance premiums, you have to take into consideration your income and monthly budget. If it is possible to pay your premium annually, this is your best option; however, if that’s not possible, monthly payments are your best option. In the end, the most important thing is that you never miss a payment, so you can prevent your life insurance policy from lapsing. And if you choose to make your payments annually and find out that you cannot keep up with it, you can always contact your insurance company and request a change to your payment schedule.

If you are looking for the best way to save money on your life insurance policy, work with a trained agent who specializes in life insurance. We have provided the top life insurance companies in the nation below; each offers hassle-free assistance and the most competitive rates. Always check multiple sites to make sure you have bargaining power and know the advantages of each company. Make sure a hard time isn’t made harder by a financial burden, check life insurance rates today.