Title: Life Insurance Quote: Buying Term Insurance Versus a Whole or Universal Life Policy

Don't Be fooled by the low price quotes you buy online -- they don't Apply to you unless you are
extremely healthy. Statistically only 10 percent of people who apply actually get the cheapest priced
policy. The premium you wind up paying has nothing to do with all the initial quote you get online or
from a broker. It is astonishing to me how often I find folks getting duped by an agent who quotes
company X in a lower price than another broker.

Life insurance policies are the Exact Same price regardless of who you purchase from! One broker
or Internet site quoting a lower premium means nothing whatsoever. Prices for any specific policy is
dependent on your age and health. There are a few exceptions to this but that's beyond the width of
the article.

Most life insurance companies have 10-20 different health/price Evaluations and no broker or Web
site can assure you the quotation they provide you is accurate. You have to employ, do a medical
check, then go through underwriting (which means you finish a mini-exam using a nurse in your
home and then the employer checks you doctor records and testimonials and'rates' your health) to
get the real price of this coverage. Simply use quotations to help narrow down your choices.

The most important factor determining price is matching your Particular health history with the
company best suited to that niche. For instance company X may be best for smokers, company Y for
cancer survivors, Company Z for people with high blood pressure, etc..

Insurance businesses and selects with whom to apply based not only on price but also based on
companies that give competitive prices no matter your health rating. The life insurance market is
continually changing and you need to find out which businesses are aggressively seeking people with
your health history.

You can go mad reading what everybody has to say on buying term Insurance versus a whole or
universal life policy. Big name sites give advice that I think boundaries on fraudulence. Simply place
there is NO simple response on whether you should buy permanent cash value policies or phrase
insurance.

However, I do think There's a simple rule of thumb buy term for your Temporary insurance
requirements and cash value insurance for your permanent needs. I've read in various journals and
conduct mathematical equations myself that basically show that if you've got a need for insurance
beyond 20 years that you should consider some quantity of permanent insurance. This is because of
the tax advantage of the growth of the money value within in a permanent policy.
Since most people have short term demands such as a mortgage or kids at Home they ought to get
some word. Also most folks want some life insurance set up for their whole lifetime to pay for burial,
help with outstanding medical bills and estate taxation and thus a permanent policy ought to be
bought together with the term coverage.

I just had a customer struggling with this choice. Daughter and was fairly well off. Our proprietary
life insurance Analysis revealed he had to buy a 20 year term policy for $500,000 To protect the kid
while she was residing at home and then a $100,000 Permanent money value Universal policy that
would continue before he was age 120 to pay his long-term requirements.