Life insurance is the best safety net that you can ever purchase for your loved ones, and thanks to the Internet, it’s never been easier to get life insurance coverage. When you’re shopping for life insurance protection, the company is going to review dozens and dozens of factors. The whole process can take a month or more to get life insurance. If you’re looking for the easiest way to get life insurance, buying life insurance online is a great way to do that.
At InsuranceScored.com, it’s our mission to ensure that you’re getting the best plan possible. As more and more people handle all of their business online, shopping for term life insurance online is becoming more and more common.
Life Insurance Online
There are plenty of companies that specialize in helping people get life insurance completely online. Companies like Haven Life have made it easier than ever before to buy life insurance without having to go into an office. There are several pros and cons to these plans that you should take note of before you purchase life insurance online.
One advantage to these plans is that you can fill out all of the information on your time. You aren’t limited to the hours of the insurance agency office. You can get the application emailed to you, and then you can fill it out whenever you have time.
Another benefit to these plans is that you can get life insurance much faster than you can with a traditional policy. With a normal plan, you can weight 4-6 weeks to get approved for life insurance protection. With an online policy, you can get approved in a matter of days. With some plans, you can have coverage in less than an hour.
On the other hand, there are several pitfalls of these plans that make them a less-than-perfect option for a lot of consumers. The most notable disadvantage is that these plans are going to be more expensive. More than likely, if you purchase life insurance completely online, there isn’t going to be a medical exam. With a no exam policy, the insurance company gets less information about you, and that’s going to translate into higher premiums.
Another drawback of these policies is that you’re going to be limited to how much protection that you can buy. With a no exam plan, you will only be able to purchase around $250,000 worth of coverage. Some companies will allow you to get as much as $500,000 without the exam. For most families, that isn’t going to be enough protection. Not having enough life insurance is the worst mistakes that you could ever make for your loved ones.
Deciding how Much Life Insurance You Need
Before you purchase a life insurance policy online, you will need to calculate how much coverage that your family will need. There are a couple of key categories that you will need to add into the equation. The first number that you should look at is your debts and final expenses. The first purpose of your life insurance plan is to give your loved ones the money that they need to pay off your bills. If you were to pass away, your family is going to be stuck with a mountain of debt, which is going to make the whole situation that much worse.
The next number that you need to add into the equation is your annual income. If you’re the primary income earner in your home, then your family members would struggle without that source of money. That’s where your life insurance policy comes in. Make sure that your policy is large enough to replace that stream of income without having to sacrifice their standard of living.
The last number that you should add up is your final expenses like your burial fees and funeral expenses. The average funeral can cost around $10,000, which can be difficult for your family to cover. Instead of having them drain their bank accounts, your life insurance plan will help pay for those expenses.
Getting Life Insurance Online
Because life insurance is such a significant investment, it’s vital that you make the best choice for you and your family. The Internet has completely changed the way that we do everything, and buying life insurance is no exception.
If you have any questions about getting life insurance online, please contact one of our agents today. We would love to answer those questions and connect you with the best possible life insurance plan available.
Unlike traditional insurance agents, we are a group of independent agents, which means that we don’t work with one single insurance company. Instead, we represent many highly rated companies across the nation. Every insurance company is different, and all of them are going to give you various quotes depending on which company that you contact.
If you want to find the lowest insurance rates and best plan for your family, you could spend days calling different companies. Instead, let us do all of that work for you. We can bring a personalized set of quotes from the highest rated companies directly to you.
You never know what’s going to happen tomorrow, which means that you shouldn’t wait any longer to get the life insurance protection that your family deserves. We know that shopping for life insurance is never going to be a fun task, nobody wants to think about his or her death. Not planning for the inevitable is one of the worst mistakes that you can ever make for your loved ones.