What Are My Life Insurance Options

Written by Danny Ray

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Options For Life Insurance

Everyone is different especially when it comes to life insurance options. Luckily,  When it comes to a Life Insurance Policy or options for life insurance, there are plenty of life insurance options out there, which can cover people will all different kinds of budgets, ages, preferences, and health conditions. You can choose from term life insurance or permanent life insurance such as whole life. Also, you may need life insurance for a burial or cremation.

There are plenty of great types of life insurance policies and companies out there, and you should look into all of them; the more companies you compare, the better chance you have of getting the policy that you’re looking for.

 

Term Life Insurance

The cheapest and most affordable life insurance plans, term life insurance covers you for a temporary amount of time. This is the cheapest of the life insurance options. Usually, you can choose from terms of 5, 10, 15, 20, or even 30 years in length. Even for life insurance over 75, if healthy can still get a term policy.

One of the great things about term life insurance is that premiums remain the same for the entire term, even if your health begins to decline. If your term is running out while you’re still alive, you can usually upgrade or renew your policy.

Term life insurance is also called “pure life insurance” because it’s designed only to protect your dependents in case you die prematurely. If you have a term policy and die within the term, your beneficiaries receive the payout. The policy has no other value.

There are two basic types of term life insurance options: level term and decreasing term.  Level term means that the death benefit stays the same throughout the duration of the policy. Decreasing term means that the death benefit drops, usually in one-year increments, over the course of the policy’s term. This term is usually used for mortgage insurance.

 

what life insurance is best for me

What is the best life insurance policy

 

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Return of Premium (ROP) Life Insurance options

When it comes to Return of Premium Life Insurance, all premiums paid into the policy for the life of the policy are returned 100%. ROP term life insurance is growing in popularity. ROP life insurance gives people the peace of mind. Covering families if something were to happen to them. Mixed with the benefit of being partially refunded, should you outlive the term.

 

Universal Life insurance is another life insurance options

Obviously, there are many types of life Insurance, one is, universal life insurance, coverage is for your entire life, like a whole life policy. Throughout that time, you can continue to adapt the plan however you’d like.  Furthermore, unlike with term life insurance, universal life insurance allows opportunities for cash build up investments that are tax-deferred like index universal life insurance. However, Universal life insurance is more expensive than term life insurance policies.

 

How Much Life Insurance Should I Get?

After deciding which kind of life insurance you’d like to get, you’ll then need to decide how much coverage to get.  Important to realize, there are several factors that need to be considered before choosing an amount. Below, we’ll provide a list of things that you may want to have covered by your life insurance:

  • Mortgage(s)
  • Any debts that you may have
  • Children’s college tuition
  • Replacing your salary/retirement income
  • Final expensesfuneral services alone usually cost around $10,000

From here, you should be able to estimate the amount that you’ll need in order to get your preferred coverage. This is certainly something that you’ll need to spend a considerable amount of time calculating. After all, you don’t want to leave your loved ones financially insecure or leave them with any of your debts that you forgot to include in your calculations.

 

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What Options for life insurance are available to me?

Options for Life Insurance

Options for Life Insurance

First, There are different types of life insurance policies and it depends on the person. If you’re just looking for cheap life insurance, then you’d most likely want to go with term life insurance.  Second,  you will want lifetime protection with cash build up opportunities. Universal life is the best life insurance policy for your needs.  Third, make sure you take measures to get the most affordable policy available.  A cheap burial policy might be what you’re looking for.

Its important to realize, there are options if a decline for coverage ever happens. You can look into no medical exam life policies seniors, or guaranteed issue life policies. You may also want to learn about other options for life insurance, like variable life insurance and indexed universal life.

The most important thing is that you get some kind of life insurance coverage. Without it, your taking a huge gamble, and your family remains unprotected. Buying life insurance is one of the most selfless purchases you can make, and it’s the best way to ensure your family is ok after you pass.

You may want to consider working with an independent insurance agent. Hiring an agent is usually an excellent investment, because of the potential money that they can help you save.   Here at PinnacleQuote , our independent insurance agents will know which companies to connect you with so that you can get the best coverage at the lowest cost.

 

What Options for Life Insurance is there for Seniors 

Getting life insurance for seniors in some cases can be difficult. Obviously, as you get older your body breaks down making you a bigger risk to the insurance company. For example, life insurance for over 75 is much more different then say for a 40 something looking to protect their family. In some cases, the options for life insurance maybe limited do to health. In fact, guaranteed acceptance is the one policy that anyone can get.

 

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Types Of Life Insurance

VIDEO

When Children are left behind ~ Why Life Insurance is So Very Important

“Death is something we tend not to think about and not to prepare for. My mom had a small life insurance policy with her job.  But lost it when she was laid off. Because she was only 49, I don’t think she ever thought that it was something she needed.”

“If my mom had had life insurance and made preparations for her death, my life would be completely different. We would have been able to bury her according to her wishes instead of settling for cremation paid for by the state. We would still be living in our family home with our pets and in our same neighborhood we grew up in. I would not have to struggle to provide my sisters with the basic daily needs others don’t think twice about.”

 

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Where are We ~ Contact Us

Your time is Valuable,  We PROMISE to make the Process of purchasing life insurance so simplistic and at your convenience!!!!

First, PinnacleQuote is here to help.  We are located and based out of Jacksonville, Florida.  Second, Speak with one of our agents, we WILL answer every question you may have. Third, you will be set you up with the best life insurance company and find the most reasonably-priced policies for you. Finally, Working with us will save you a tremendous amount of time.

 

PinnacleQuote

Term Life Insurance

Danny Ray ~Founder/Owner of PinnacleQuote

PinnacleQuote,  National Independent Agent

WE UNDERSTAND…

We understand that there are many life insurance options to choose from.  PinnacleQuote  is here to make the process simple for you to help you choose the best type of life insurance for your needs.   Ultimately, with 25 years experience in the Investment/Life insurance industries, PinnacleQuote will provide you the best service to protect your family.

PinnacleQuote,  BEST PRICE, BEST CARRIER, GUARANTEED!!!

 Feel free to  contact us at PinnacleQuote (855)380-3300.

Danny Ray & Lisamarie Monaco Contributed To This Article
Danny Ray & Lisamarie Monaco Contributed To This Article

Here at PinnacleQuote Life Insurance Specialists we always put the CLIENT FIRST!! We are not in the business of selling life insurance, but to educate, and provide the best options for you and your family. This way you can make the best choice to properly protect your family. We have over 300 life products available to tailor make a policy for any one of our client’s needs!

We offer the Best PRICE, Best CARRIER, GUARANTEED!

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