So the name of this blog is Term Life Insurance Digest. Here I talk about lots of things relating to term life insurance. You’ll notice that I also throw some things in having to do with my life. It’s not all about term life insurance, but you’ll see that the majority of my posts have to do with insurance.
I think term life insurance is very important. Not everone needs it, but there are lots of different types of people that should have it. I think that often the people who need it the most don’t have it. If you are married, young, have little children, and are struggling to pay the bills, then you probably need it the most. Once you make a lot of money and have lots of savings, it’s less likely that you’ll actually need the life insurance proceeds (unless you have a lot of debt, or various other reasons). But if you are a young married couple, and especially if you have young children, then you should definitely get life insurance.
Term life insurance, also known as level premium life insurance, is probably your best bet. It’s the most inexpensive form of life insurance. And if you are in your twenties or thirties it is very reasonably priced. For ten bucks a months you could have a lot of protection.
Anyway, you can see that I feel very passionately about this. (Or if you can’t see it, just believe me. I am passionate about it :). If you want to see how much it would cost for you, there are many life insurance websites out there. Try typing in “term life insurance” into google and see what comes up. Many of those websites will give you free term life insurance quotes. Make sure you look at a site that quotes multiple companies. The prices can vary a lot more than you might imagine.
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April 10th, 2008 at 2:51 pm
Don’t worry, Key Man, we can see it.
At least I can. A question, though: how much do medical conditions affect the price of insurance?
For example, a friend of mine is looking into insurance but has diabetes; will it make the cost significantly higher? And do different companies look at the various medical conditions differently, or are they all the same? Thanks ahead of time for your help.
April 11th, 2008 at 6:50 am
Hi Bryan,
Medical conditions may affect the price of life insurance substantially. If the medical conditions are managed with proper medication, the premiums may not be too high.
However, by comparing plans and prices for term life insurance from multiple carriers online, your friend may be able to save some money on their life insurance policy.
Term life insurance usually offers the lowest premiums, and by choosing to pay once per year, instead of monthly, your friend may save even more money.