Articles Life Insurance Articles

Low Cost Term Life Insurance For Single Parents

Tweet

Having low cost life insurance is, or should be, a high priority for single parents. The loss of the sole provider would create a great financial strain on the survivors. However, because of the single parent income, the insurance coverage must be affordable. Coverage and affordability are necessities.

Because single parents neatly fit into one demographic (whether widowed or divorced), they both have one thing in common, the only person they really need to protect are their children. It is important to note that once the children grow-up and are able to take care of themselves, the single parent would have no one else to provide for, thus no need for an insurance policy. This is why term life insurance would be the best product for a single parent’s needs. It covers a certain period, in this case a 20 year policy would be adequate, and it is the most affordable life insurance product.

Buying term life insurance:

Purchasing term life insurance online is actually a very simple task, as daunting as it sounds. Because of the simplicity of the product, it is a very simple product to buy. Not all insurance products can be purchased over the internet, term in not one of those. In fact, you can compare term life insurance quotes and purchase a policy within minutes, using one online source.

Using Online Agencies

There are numerous life insurance agencies online, all vying for your business. So which one do you go with? If it is a legitimate life insurance agency site, it will give the same quotes from the same companies any other site would, company’s rates to do not change from site to site. However, you will want to ensure that the site you are using features a decent selection of the nation’s top insurers (at least 50), this will provide you with enough results to make a fair comparison. None of them will charge you and using an agency to shop will not increase your rate, insurance companies pay the agencies directly.

Do be wary though of lead aggregators. They will cause you no harm, but will end up being a nuisance. Lead aggregators do not have permission to sell life insurance; instead, they sell your information to the life insurance companies. This can result in a few (or more) agents calling you in order to sell their life insurance products to you. Make sure you are using a legitimate agency site and not a lead aggregator site by viewing their “about us” page and make certain the site contracts with insurance providers and not agencies.

Once you’ve found your site and have compared rates, purchasing the life insurance policy is a simple process. Once you find the cheapest quote, simply click the “apply” button and you will be able to fill out an online application.

The most challenging part of the application will be the health class question. Here you will rate your health, which will determine the rate class you fall into. The classes are typically: Best, Preferred, Plus, and Standard. Obviously, the Best class is going to have the best rates. Judging your own health class can be a grey area, because although you may find your health to be superb, your insurance provide may rate you differently. Not all insurance providers rate the same way. Some may rely heavily on family history, while others may rely more on your actual physical health. Your class will not be final until your actual medical examination (which can be done at your home). This is also a good time to contact an agent from the website you are using, they have a good understanding of how certain providers rate and can offer you guidance in that area. You can contact the agency free of charge and they are not partial to any one provider, so they can offer unbiased advice.

A few of the carriers we quote

For assistance call 1-800-823-4852 7am–6pm M–Th, 8am–5pm Friday (Pacific time).
Copyright © 2002-2012 Pinney Wholesale Insurance Services - All rights reserved. 2266 Lava Ridge Court, Roseville CA 95661.

R. Jan Pinney CLU, ChFC, is a licensed life insurance agent in all states and the District of Columbia. The following agent license numbers are provided for R. Jan Pinney as required by state law: CA agent #0440057, LA agent #291116, MA agent #1674866, MN agent #20270113, UT agent #58330, agent R. Jan Pinney, DBA Pinney Wholesale Insurance Services. Commercial use by others is prohibited by law. This site provides term quotes. Each rate shown is a quote based on information provided by the carrier. No portion of WholesaleInsurance.net may be copied, published, faxed, mailed or distributed in any manner for any purpose without prior written authorization of the owner.