Why Life Insurance?

iStock_000000815226XSmallThe first step is knowing why you need life insurance. Once the cold hard facts are laid out, there should be no question of why. The purpose of life insurance is to provide financial support for your dependents if you are no longer around to do it yourself. If you don’t have any dependents, you probably don’t need to spend money on life insurance.

If you are contributing significantly to the financial well-being of someone in your life, you think about protection from any financial gaps that might occur if you are no longer able to provide the same support.

There are two basic types of life insurance policies: life and whole life. Term life insurance policies last for a specified period of time. Term life is less expensive than whole life because it usually expires before the benefits are used.

How much money do your dependents need each year and for how long? Because your children are likely different ages, that number is different for each beneficiary. Calculate the needs of each dependent annually, multiple times the number of years support is needed and then add those numbers together so all dependents have what they need.

Shop for the Best Rates

Lowest Provider is comprised of fully licensed & independent insurance agents. Because all of our agents are independent, we are not beholden to any one insurance company. This means that unlike other insurance brokers, we can instantly compare quotes from over 15 of the top rated providers instantly! Since every provider varies their price per conditions such as geographic area, gender, age and lifestyle, we are able to save you a good deal of money on your life insurance.

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Stay at Home Moms and Dads Should Have Life Insurance Too

iStock_000005292448SmallIf you are a stay-at-home parent and you don’t have life insurance, consider this:

The stay at home parent is usually the CEO, manager and hands-on caregiver of a household. The duties of managing and running the business of a household don’t have a price tag attached, but they can be extremely costly if outside help is needed in the event of an untimely death.

The death of a parent is traumatic to a family and not affording the cost of childcare and homecare will only put the ones you love in a worse situation. The breadwinners of the family are typically insured but mistakenly, some think that parents who work inside the home don’t warrant a life insurance policy. If you have a young family with a stay-at-home parent who is not insured, ADJUST YOUR THINKING IMMEDIATELY!

Salary.com published a recent study that estimates that stay-at-home moms work on average 94 hours a week and are worth an equivalent salary of $113,000.

Young children should be protected so that their current (or within reasonable comparison) lifestyle can remain somewhat intact in the case of losing a parent. All the shlepping to lessons and sports and homework and basic childcare will still need to go on. College tuition will still need to be paid. College tuition is a concern for all parents today and should be considered when considering the death benefit of a life insurance policy.

Shop For a Policy Best Suited For Your Stay-At-Home Parent

It is beneficial to go with a term life insurance policy for a stay-at-home parent. The rate will be lower than whole life and the need will still be met. LowestProvider.com will put you in touch with a fully licensed life insurance agent who can help you to determine what (if any) type of life insurance policy is right for you. All of our agents are independent brokers so we are able to provide you with quotes from multiple, top rated providers. This ensures that we will NEVER push one company’s products over another’s AND you are GUARANTEED the lowest possible rate on the life insurance policy that fits your needs from the top companies we work with. All of the quotes you receive are free and carry no obligation. If you find the information that we provide you valuable, then we hope you will choose to buy your life insurance policy through our company. Call (800) 770-7595.


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Term Life Insurance is Affordable

term-life-insurance1SmartMoney magazine reports that 25% of people who buy life insurance stop paying on the policy in the first three years. By the 10-year mark, it’s almost 50% who quit paying. Insurance is necessary and therefore, to avoid this happening to you, it is best to purchase a policy that is affordable – such as term life insurance.

Term life insurance is simple and low cost and it should be purchased for all adults in a family. SmartMoney reports that a 45-year old man can get a $500,000 level term policy with a coverage period of 20 years and only pay about $50 a month. Women’s coverage is even cheaper. Stay-at-home moms should have term life insurance for a term that is dependant on ages of children.

Certain health conditions make insurance more expensive or even unavailable. If you have such a condition, you’re what’s known as “rated” in the industry, which means you will pay more money than the 45-year-old guy in great health.

Here are some pointers to keep in mind as you look to purchase term coverage:

• How much life insurance do you need? The simplest rule is 10 times your income.
• It is preferred to go through medical underwriting so you can buy a policy on your own rather than through work.
• Stay-at-home spouses who care for children should have insurance too. They have an “insurable need” because you’d have to pay someone to care for your children in the event a spouse or partner dies.

Call Lowest Provider Insurance Services

By contacting LowestProvider.com, we will put you in touch with a fully licensed life insurance agent who can help you to determine what (if any) type of life insurance policy is right for you. All of our agents are independent brokers so we are able to provide you with quotes from multiple, top rated providers. This ensures that we will NEVER push one company’s products over another’s AND you are GUARANTEED the lowest possible rate on the life insurance policy that fits your needs from the top companies we work with. All of the quotes you receive are free and carry no obligation. If you find the information that we provide you valuable, then we hope you will choose to buy your life insurance policy through our company. Call (800) 770-7595.

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Ways to Save on Term Life Insurance

iStock_000004281661XSmallTake a look at 4 big ways to save money on term life insurance. They seem simple, yet most people don’t think to ask about these great opportunities for staying in your budget.

These can end up saving you a decent amount of money and you may even end up getting more coverage than your originally expected.


Milestone Discounts

To save money buying term life insurance policy, ask for premiums for higher benefit amounts. Some companies offer price breaks, called milestone discounts, for higher coverage amounts. You might get a break for getting $250,000 benefit instead of $200,000. Or you might save by getting $500,000 instead of $450,000. So even if you figure out that you only need a certain amount of coverage to protect your loved ones, it may be worth asking how much a higher level of coverage costs. You could end up saving money buying a term life insurance policy, while getting your loved ones more protection.

Auto Renewals

A renewal guarantee allows the life insurance policy to be renewed without retaking the medical exam. It’s true that your premium will be based on your current age — not the age you were for your initial term — but you won’t have to start the shopping process all over again for buying term life insurance. This is particularly valuable if your health has declined. Trying to buy term life insurance from scratch with poor health could mean that you won’t qualify for coverage or that you will pay a much higher premium.

Pay Annually

Paying annually can often save you money. Often, there are fees for monthly billing (these are called “fractional premiums”). It might pinch to make an annual payment, but it’s worth asking about in order to save money.

Buy Sooner Than Later

Term life insurance generally is less expensive when you are younger and in relatively good health. That’s not generally the time in life when most of us think about buying term life insurance, but actually, that’s the best time to save money. Waiting until later in life when you’re a bit older and maybe dealing with some medical issues can drive up your premiums and may even prevent you from buying term life insurance at any price.

How LowestProvider.com is able to save you up to 70% on your life insurance:

Lowest Provider is comprised of fully licensed & independent insurance agents. Because all of our agents are independent, we are not beholden to any one insurance company. This means that unlike other insurance brokers, we can instantly compare quotes from over 15 of the top rated providers instantly! Since every provider varies their price per conditions such as geographic area, gender, age and lifestyle, we are able to save you a good deal of money on your life insurance. Call (800) 770-7595.


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Life Insurance For Your Parents

family holidayWhen it comes to buying life insurance for your parents, most people prefer term life insurance to whole life insurance. The reason for this preference is quite simple. Term life insurance costs less than whole life insurance and a term life insurance policy can be purchased for a number of years. As such, a term life insurance policy can be easily purchased to outlast a person’s projected lifespan.

Although term life insurance policies are usually the less expensive option, it is important to note that these policies will be more expensive when taken out on behalf of an elderly person as opposed to a younger person. In addition, the term lengths available on these policies will often be less than what is available to those that are younger. After all, the insurance company doesn’t want to have to end up making good on the policy.

There are other factors that you should consider when deciding to purchase a term life insurance policy as well. For example, term life insurance policies do not build equity, while whole life insurance policies do. When purchasing a term life insurance policy, you are simply purchasing a death benefit that will be paid in the event of your parents’ death. This is different from whole life insurance policies that allow you to accumulate a cash value.

If you do decide to go ahead and purchase term life insurance for your parents, it is important to be sure to select a policy that allows you to renew down the road. This way, once the term is expired, you can renew the policy if necessary. In some cases, you can have the policy set up so that it renews automatically. In most cases, however, you will have to jump through a few hurdles before the policy can be renewed. This often entails going through a medical examination, filling out a lifestyle questionnaire, and undergoing a raise in the amount of the premium.

Best Rates

Obtaining term life insurance policy quotes is easy with Lowest Provider Life Insurance Services. This free service matches you and your parents with a carrier and policy that meets your needs and is affordable. They can instantly compare quotes from over 15 of the top rated providers instantly. Call for your quote at (800) 770-7595.


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