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Life Insurance: Who Needs It And How Much Do You Need? will need the help and, realistically, what that help should consist of. If you die this should not be like winning the lottery for your survivors. Don't buy so much insurance that you will be really strapped for all those years before you pass on. The next step is to do some comparison-shopping. Different insurance companies often quote different rates on just about the same coverage as they tend to rate risks differently. You should also look at the cost of term vs. cash value life insurance. Many experts believe that if you're young, with young kids, your best bet is a term policy as it costs less, yet can offer good coverage. For example, if you're 35 and in good health, you can probably buy a $500,000, 10-year level term polity for less than $300 a year. And a 20-year, level-term policy might cost you no more than $400 a year. You might also save money on the term insurance by buying more than one policy. For example, if you have two children, one age 12 and one age eight, you might consider buying a 10-year, level term policy to take the 12-year old through college, and a 20-year term policy to cover the eight year old through college. Finally, you can get quotes on term insurance and even buy it without ever seeing a life insurance agent. There are a number of web sites where you can do this, including quickquotes.com, reliaQuote.com and intelliquote.com. It is important to understand that the « Previous Page « » Discuss it (all 2) » Continue Reading »
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