Buying Life Insurance Online is Becoming Very Popular
as a fast and easy way to protect their loved ones. They figure out what they can afford, go online, get a quote, have a conversation with a broker and buy the life insurance. They might even end up on a bank or insurance company site and purchase it directly from that company – likely at a higher cost than a broker would offer. It is fast, easy and very time efficient. Let’s look at why that could be an expensive mistake or worse eventually leave your loved ones with no life insurance.
The first problem is that the amount of life insurance is determined based on budget not what is required. If you are not sure of how much life insurance would be best for you, take a couple of minutes and use a life insurance calculator like the one here and calculate both what you and your spouse should have – it is usually different. If you have a problem, give the phone number at the top of the page a call and talk to someone who has a wealth of experience. Life insurance is usually a small part of your budget so when you buy life insurance, get enough to look after your loved ones.
Once you know how much you need, look for a quote online but be careful, the online life insurance market has thousands of sites to choose from and the sites that come up on the first page with google, are the ones that are best at getting ranked by google – is this what is important to you? A couple of the sites may be a good option but there are only a few companies that have almost 10 years of experience offering online quotes, have the highest better business bureau rating and are approved by almost all the insurance companies to sell their products online. IDC Insurance Direct Canada is one company that offers this through their websitehttp://www.lifeinsurancequote.com/. Their 12 brokers are licensed to work in all provinces and have over 170 combined years of experience to help you buy life insurance online.
They can help answer the biggest question which is what kind of life insurance to buy to cover your family not only now but in the future. Ten year term insurance is the least expensive as the insurance company has a built in price increase of about 600% to 700% after the ten years if you want to keep the policy. The only reason you would keep it is that you are too sick to qualify for a new policy so they charge accordingly. This is a reason to have some insurance with a term that is over ten years if your need will last over ten years which is usually the case.
At Insurance Direct Canada, they will help you buy life insurance based on how much life insurance you need including how much of each kind. Perhaps a little permanent insurance with some ten year and some twenty year term insurance would work for you while something entirely different would be best for someone else. The value of a good experienced broker is the questions he asks to help you arrive at the perfect life insurance for your situation before you buy life insurance.
Far too often, by the time people realize the benefits of buying whole life insurance, they are either too sick to qualify for it or are too old to afford the premiums. Had someone talked to them about the reasons to buy life insurance and options before they turned 40 years of age they could have a little permanent insurance while it was affordable and they had their health.
You will likely spend thousands of dollars on life insurance over your lifetime. Take the time to do the research before you buy life insurance and use the advice of an experience broker who is there to help you make the best decision not only for the short term but for a lifetime.