Term life insurance is the most common and most straightforward type of policy. Generally, this type of coverage appeals to the masses as it tends to be the most affordable, easiest to buy and understand, and it covers temporary needs during the time in your life when you need the protection.
Most carriers commonly use some kind of medical exam procedure to judge any conditions or history that might affect the applicant’s rate for insurance or deny him or her coverage altogether. Historically it has been a standard part of the mainstream life insurance process. More and more however, we are seeing carriers developing processes for determining an applicant’s insurability without any face-to-face contact between the applicant and an agent or examiner. This can greatly reduce the time and expense of for insurance companies to get policies issued and make the process much easier and more pleasant for you as an applicant.
Universal Life Insurance is designed to help you meet your current and future Life insurance needs, and potentially provide lifetime security for you and your family. Some of the top benefits are flexibility in the policy’s face amount, as well as the amount and frequency of premium payments to adjust to your changing needs.The cash value of your policy earns interest, and this growth is income tax-deferred – the cash value can be accessed almost anytime.
Q3 Life Insurance News with Aaron Udell, National Sales Director for Quality Quick Quote is proud to announce this new podcast designed to inform clients and agents for navigating the complex waters of life insurance. We will discuss and educate the best products that are offered to clients. If you want any podcast to be on a specific topic feel free to reach out to us at firstname.lastname@example.org
If you’re in retirement, you may be asking yourself, “Do I still need life insurance?” It’s easy to say no when the kids are out of the house, and the house is already paid off, but the reality is that there are still situations where life insurance for retirees is absolutely necessary. If you’re in retirement and aren’t sure if you still need life insurance, here’s some questions you should ask yourself:
We get it: times are tough for everyone, and especially for Millennials, most of whom have had to enter adulthood in an economy still suffering from the Great Recession. Jobs are harder to find, homes more expensive to own, and insurance seems just out of reach. But the fact is that it’s not! There are few different types of life insurance that young adults of the Millennial generation will find beneficial. Here’s a rundown of some life insurance considerations for Millennials from Quality Quick Quote:
Term Life Insurance
Term Life Insurance is exactly what it sounds like: life insurance that lasts for a set term (usually 10 to 20 years) at a fixed rate. These policies can be tailored to give young families the protection they need, whether it be through adding death benefits, compensating for dependents, or including riders. Term life can be a good life insurance option for Millennials because of its low cost and basic coverage, which is easy to understand for those purchasing their first life insurance policy.
Permanent Life Insurance
Whole Life and Universal Life are common example of coverage that can be designed to last throughout one’s life. Whole Life is generally fairly straightforward with both a death benefit and cash value. Universal Life Insurance is a type of flexible permanent life insurance that can provide low-cost protection (similar to term life insurance), but also may include a long-term money saving component. This allows the policyholder of a Universal Life product to put their money to work and build up cash over a longer period of time. This is a life insurance for Millennials who are a little further along, such as those starting families. Universal life is flexible in that it offers policyholders the ability to reevaluate and alter their personalized policies (including certain death benefits, premiums, and savings) as their lives mature and change.
Millennials and Life Insurance
For a generation trying to find or hold onto jobs in an economy that has not been kind to them, looking into life insurance may take a back burner. But investing in the future (both yours and your loved ones’) is one of the most important things young adults can do. That’s why Quality Quick Quote is simplifying the process with our free, no-obligation life insurance quoters and experienced life insurance professionals. For our term life quoter, click here, and for some whole life, universal life and other design options, click here!
To young couples in the midst of wedding planning, looking into life insurance policies may seem a bit less romantic by comparison. However, what better way to demonstrate your love than by making a commitment to protect each others’ futures should the worst happen? It seems an obvious investment to make for couples who are promising to spend the rest of their lives together, but according to the National Association of Insurance Commissioners (NAIC), of the 71% of newlywed couples who recognized they need life insurance, almost half of them put the conversation off until after they exchanged vows. Newlyweds looking to start their lives together often have many questions about policies, products, and if they even need life insurance. Luckily, Quality Quick Quote is here with the answers!
Is Life Insurance for Newlyweds Really So Important?
Short answer: yes. Life insurance is a necessity for most people, and especially newlyweds, who may be looking into buying their first home, taking out their first mortgage, or starting a family together. Planning for the future can be an exciting time, but couples also have to be prepared should the worst happen. It may not be a fun conversation, but it’s a necessary one — outside of emotional repercussions, there are financial ones to deal with as well. The loss of a spouse could result in foreclosure or the surviving spouse’s inability to pay bills due to the loss of one income. Starting a life together is all about achieving stability as a couple, be it emotional or financial, and not being prepared for the untimely passing of a partner would be a devastating blow to that stability.
What is the Best Type of Life Insurance for Newlyweds?
For young couples just starting out, there is an obvious answer: term life insurance. Term life provides a set benefit for a set amount of time (such as 20 or 30 years), allowing couples to make investments and build stability together until they are ready to take out a more long-term policy, such as universal life insurance. Term life will also provide couples with affordable rates as they start to build their life together, and buying coverage while young and healthy gives couples the opportunity to qualify for and keep favorable rates.
What About Life Insurance for Older Newlyweds?
Life insurance for newlyweds with children from a previous marriage, or for couples where only one spouse is working, insurance can be a little more tricky. These type of couples will want to consider buying insurance for both spouses, since they have more dependents to consider than a young couple where both partners are working. Couples who already have children will also want to consider a more long-term policy, as the loss of a parent’s finances could result in loss of higher education, in addition to the emotional toll that losing a parent would already take.
‘Til Death Do Us Part
Here at Quality Quick Quote, we understand that planning for the future can be a daunting task, especially when planning for the worst. But planning for the future is a necessity nonetheless, and life insurance for newlyweds especially so. If you and your spouse are looking for an affordable term life insurance policy, be sure to use Quality Quick Quote’s free, no-obligation term life insurance quoter here!