I just need life insurance coverage for maybe the next five years or so, so I don’t think I would need a policy with the whole shebang. How do I find a cheap life insurance plan?

Clint

Gainesville, FL

Now before you go out and look for a cheap life insurance policy keep a few things in mind first, namely: a.) Choosing the right kind of policy best suiting your needs, and b.) making sure you get the right amount of coverage.

Choose the Right Policy – Basically, you can choose a policy that is either temporary (term life) or permanent (whole life, universal life, etc.) It looks like term life coverage is best for you since you only need it for a certain period of time. Whole life is more expensive but builds wealth in the long-run.

Buy Enough Life Coverage – Make sure your dependents will get enough money to go by for at least several years should you suddenly pass away. This would include projected living expenses, remaining financial obligations 9e.g. Mortgage, loans, etc.), and supplementing non-monetary assets like health insurance.

Now that those are behind us, here are a couple of tips to help you find the most affordable life insurance policy:

Shop Online – You can get very good deals (and save a lot of time and effort) by shopping for the latest deals online. Use life insurance comparison websites like this one to get and compare rates coming from many different insurers. This is a good way to maximize your chances of finding the best offers out there.

Leverage Excellent Health – Young, healthy and a non-smoker? Expect to get very good rates. And even if you aren’t its almost never too late to keep yourself in good condition (as well as to begin to kick the smoking habit) in order to enjoy affordable coverage for years to come.

Why do I need to take a medical test when applying for term life insurance? Why go through with it when other life insurance companies are offering coverage without the medical exam?

Brent

Gainesville, FL

That is a good question. With all the companies offering term life insurance without medical exam these days, why go through all that hassle right? Now before you go ahead and buy a no exam policy it would be advisable to know first why such a policy was even invented. It is also wise to know first if this kind of policy is advantageous to you or not.

First, no exam life insurance plans have been created to cater to those who wish to purchase coverage quickly and easily. The Internet has made this demand even bigger. However, since the insurers have no idea about the applicant’s state of health, they will charge higher life insurance premiums to compensate for any unforeseen risks that a customer might represent in the future.

This can be a good thing or a bad thing to the prospective policyholder. If the applicant has a serious physical disease or medical condition, participates in extremely dangerous activities or hobbies, or has an occupation that exposes them to hazardous places or conditions, then a life insurance with no exam plan is advantageous. Usually these individuals will find it next to impossible to get normal life insurance coverage. Even if they did the normal life insurance rates would be astronomical! A no exam policy can prove more cost-effective in the long run.

However, if you are relatively young and is in excellent physical condition then by all means let your insurer know about it by taking that medical exam. There is no reason to pay higher rates unnecessarily.

Just moved to Gainesville, Florida for a new job and I’m wondering if I should buy life insurance since I’m so far away from home.

Carlysle

Gainesville, FL

Life insurance is a very good (and wise) asset to have these days. Life insurance benefits you by giving peace of mind knowing your family/dependents are financially secured in the event of your untimely demise. Still thinking twice? Here are other reasons town life insurance:

• For married people, life insurance can act as replacement of lost income should the breadwinner (or spouse, if also contributing financially) suddenly passes away.
• Life insurance will take over payment of mortgage, loans, and other long-term financial obligations for your surviving family or dependents.
• Your children need not forego school or college since the benefits of the right kind of life insurance would be more than enough to take care of their needs.
• Life insurance policies can be sold should the policyholder need an immediate source of money in the future.
• You can accumulate wealth (tax-deferred) on life insurance policies. This is an excellent way for your family or dependents to inherit money in the future.
• One of the lesser known life insurance benefits is its ability to be used as collateral for a loan. Most permanent life insurance plans allow policyholders to take out a loan against it as well.

Life insurance benefits people in many ways. It is a financial safety net for you (upon old age) and/or your family (upon your demise). It can take care of debts and can even be used as a way to store wealth. If you are interested, it’s highly recommended that you run a free life insurance quote comparison to find the best rates today.

Tags: life insurance benefits

What are the benefits of a term life insurance in Gainesville?

Sara

Gainesville FL

Many people fail to realize that there is actually an existing affordable alternative to a costly permanent life insurance. They think that a whole life insurance often comes with steep rates. This made them conclude that they cannot afford a life insurance in general. This leaves their loved ones unprotected from future losses.

There are two basic types of life insurance in Gainesville: one is term life insurance where you get to choose the duration and coverage amount of your policy. The other one, which has many variations, is the whole or permanent life insurance. A whole life insurance combines an investment product with a life insurance.

A term life insurance in Gainesville is an affordable alternative to an expensive whole life insurance. A whole life insurance is expensive mainly because of it investment aspect. A whole life insurance often costs a consumer hundreds of dollars a year compared to the much lower cost of a term life insurance.

Basically, a term life insurance is simple to understand. You get to pay a low monthly premium based on the length of term and amount of coverage you personally choose. In a term life insurance, you are allowed to avail your insurance with in a period of 10, 20 or 30 years and choose your coverage amount from hundred thousand dollars up to half a million dollars.

A term life insurance is recommended for those with short term needs. An example of this is to cover the college education of your child or your mortgage. Parents could buy a life insurance that could cover the whole college term of their child just enough to financially secure their child’s education in case something untoward happens to them. The policy holder can also avail of a term life insurance that is good only for the period of his or her home’s mortgage.

Is a whole life insurance plan a good financial investment? Would you recommend this instead of stocks or mutual funds?

Frances

Gainesville, FL

This is an excellent question! A Whole life insurance policy is the most common form of permanent life insurance coverage. And as it is a lifetime commitment, this kind of coverage is best for people with long-term financial goals and foresight. Whole life insurance coverage is an excellent way to store and accumulate your money in the long run, but may not be the kind of financial investment that most would expect.

First of all, with a whole life insurance plan – as with any form of life insurance – the only time someone (i.e. your beneficiaries) sees money is when the insured dies. Now with some whole life policies, you get a lump sum of your cash value or the money accumulated on your policy over the years, when you turn 100. What you have left to do with all that money at that age is another story.

However, whole life insurance plans are a great way to secure your dependents financial future. Most whole life plans have fixed growth rates, which makes them light-years more stable compared to stocks, and can perform as well as mutual funds. The income generated by your whole life coverage is even tax-deferred!

So if you’re looking for stability, steady growth and accumulation of wealth for the security of your dependents’ future, then a Whole life insurance policy is definitely a good investment. But if you want to enjoy the fruits of your investments, then you should just put most of your investment money somewhere else.

It’s recommended that you use one of the many online life insurance portals – like this website you’re on right now – to look for the insurers with the most affordable life insurance rates in Florida (or wherever you may be). Not only do you get the latest rates and offers, and get to compare your options better, you also get immediate access to the insurer’s website which contains valuable details and information to help you decide on the policy best suiting your long-term needs.

Tags: life insurance rates in florida

I’ve been told by a representative from my life insurance provider here in Gainesville, Florida that they will do a review of my policy free of charge, is this legitimate?

Kilmer

Gainesville, FL

Good point. Life insurance agents or representatives are known to do periodic reviews of their policyholder’s life insurance agreements and yes, it is perfectly legitimate for them to do so. This may be done to update their records as well as make any necessary changes on your policy to better reflect on your needs. This may also uncover gaps and discrepancies on your insurance coverage that you might not have been aware of. This may be as an added service that your policy there in Gainesville, Florida has.

Of course, no company does anything completely free right? So this may also be a strategy of your life insurance company or agent to either offer you a better life insurance plan, or a different, usually more expensive, policy all together. In any case, you should make it quite clear that you should not be under any sort of obligation to purchase any additional services or products from your life insurance carrier, should you decide to accept their offer to review your policy. If you could get that in writing, that would even be much better. Tell that to the life insurance rep and their reaction would almost always reveal the real reason they are offering you this free policy review.

Just to let you know though, reviewing your policy from time to time might not be such a bad idea at all. An even better suggestion would be to get free life insurance quotes from this website so that you can compare your rate with that of other providers and know if you still have a competitive policy.

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Reader’s Question:

What’s the difference between a smoker and a non-smoker when getting life insurance? Why does my provider here in Gainesville, Florida charge me more than my friend who does not smoke?

Oliver

Gainesville, FL

The biggest difference between someone who smokes versus someone who doesn’t would be how their life insurance premiums are priced. Due to the plethora of serious health problems that long-term smoking causes, life insurance companies are inclined to charge higher premiums to cover for losses that may be incurred due to having to make a payout for death benefits soon. In effect, life insurance companies reward non-smokers since they prove to be a segment of the market that can sustain the companies business longer (since they will live much longer).

Also, the life insurance market for non-smokers tend to be a very competitive market therefore forcing providers to offer the best rates in order to attract new business and keep the current ones. So if you would like to get competitive rates from your life insurance provider there in Gainesville, Florida, the first thing you would have to do is, obviously, to quit smoking. Easier said than done, of course, but the benefits in the long run are worth it. You could save three times towards your life insurance expenses annually and reduce or even eliminate treatment costs for smoke-related illnesses in the future. Talk to your provider to see how soon they can bring down your premiums into a “non-smokers” rate once you have decided to stop smoking. You can usually expect your rates to get lower after a couple years after kicking the smoking habit.

Tags: smokers life insurance, life insurance coverage, cheap life insurance, life insurance advise

I’ve quit smoking a long, long time ago but will my smoking past still affect my rates If I decide to buy life insurance here on Gainesville, Florida.

Laquana

Gainesville, FL

That would depend on how you will answer the application questions, related to determining if you are a smoker or not, for your life insurance policy. Technically, a life insurance company won’t be able to presently tell that you were a smoker some few years back (unless you have been treated or hospitalized for smoking related illnesses, which may be recorded under your medical records) so it shouldn’t have any direct impact on your life insurance premiums should you apply for one in Gainesville, Florida. You may even be asked to take a urine sample test and they still would not be able to tell that you have smoked if, it was done after 72 hours, much less a few years back.

If you do consider yourself a “Non-smoker”, have not had a light since the last administration, and have no medical conditions that were caused by your ex-smoking habits then feel free to tell your life insurance company that you don’t smoke. Not even occasionally or socially. The difference in life insurance premiums can be worth a couple of thousands a year and maybe even more with some life insurance providers. Take caution though, some provider’s do investigate whether you actually don’t smoke or not. You might receive a phone call asking you a few questions but is actually meant to verify the information you supplied during the application process. If they do find out, the worst that could happen is that they bump up your rate to a smoker’s policy.

Tags: life insurance advise, non-smokers life insurance, life insurance information, life insurance application

I’m hesitant to buy life insurance here in Florida because I’m not quite sure if the death benefits are all that important. Can anyone enlighten me on this one?

Kevin

Gainesville FL

Good day, Kevin! It is precisely because of these death benefits that make life insurance very relevant to a person’s life, especially if you have children or a family. What you should think about are the financial toll that would fall upon your family should anything happen to you. Especially if you have a family to leave behind, then having an insurance policy with good death benefits will really provide for them even after you’re gone.

Death benefits are important because they can cover all immediate expenses if you die. With a death benefit, your loved ones won’t have to worry about the payments for expenses like unpaid debts, mortgages, loans, car payments, utility bills, and other funeral expenses. The death benefit can also be the source of income for your family once you’re gone and at the same time, provide money for your children’s education.

With all these considerations, do you still think that a death benefit, or a life insurance for that matter, is not that important?

If you really care for your family and want to provide them with the best of everything, then a buying life insurance with good death benefits should definitely be at the top of your list.

It is imperative that you get in touch with an agent to ensure that the policy you’re going to buy will cover everything that you need.

Tags: life insurance

Life is never sweeter…my wife just gave birth to a bouncing baby boy…and we are more than excite to raise him. My wife and I run a clothing company and I would like to make sure that my baby boy will have financial security as he grows up. Is it a wise decision to buy new life insurance in Gainsville, Florida at this stage in our life?

Arthur

Gainsville, FL

Well, I am not a life insurance expert, but I’d say it is definitely the right time to get yourself covered, especially that you now have a new addition to your family. Congratulations! This is probably the most exciting time of your life.

My wife and I had our first life insurance too when we had our first child. Planning for a new family can be both exciting and anxious at the same time. It can be a burden sometimes to think about our child’s future and financial security.

If you already have life insurance coverage, you really don’t have to buy a new one. You can instead evaluate your existing life insurance policy to determine if it can offer enough coverage and protection for your new dependent. Most term life insurance policies have decreased in rates over the years, so you might check if your rates are fine. You can compare rates using free quotes online which you can get using this website by using the form. Other websites can also help you compare life insurance rates in Gainsville, Florida.

To determine your required coverage, you need to do a little research on the type of life insurance coverage and amount of coverage for your family based on income and lifestyle.

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