Getting a term life insurance policy makes sense once you are starting to get up in age when death is more likely to happen.
For someone in their 20s how is it something you should be paying good money for? Death would seem pretty far away.
Doesn't it seem that same money could be spent on something enjoyable? And even getting a term life insurance quote seems like such a hassle.
Well, life insurance is a formal contract for reducing risk by transferring the risks of many individuals to an insurance company against the likelihood of dying.
The insurance company agrees, for a consideration (i.
e.
recurring premium payments) to pay the amount of coverage to a named beneficiary on the death of the insured individual.
So it is a matter of risk reduction.
Risk of what? Risk of leaving loved ones who depend on you for income with no money should you be one of the unlucky ones who suffer an early death.
And as for term life insurance quotes being a hassle, that problem was solved years ago.
Today, term insurance quotes can be obtained online hassle free.
Simply go to your computer and search the internet for term life quotes and select one of the numerous web sites that are available for quoting life insurance.
Most will provide a quoting tool on their home page.
You fill out the quote form, answering several simple questions about yourself and where you live, the amount of coverage you desire and the term you would like the policy to be good for.
These quoting sites are independent of any insurance provider.
The software they use accesses the databases of most all of the major insurance companies and automatically do a term rate quote comparison for you.
The data comparison is provided to you instantly.
So it's really not much bother and you will have the peace of mind that the ones who depend on you for the income they need to survive will be covered if the worst should happen to you.
For someone in their 20s how is it something you should be paying good money for? Death would seem pretty far away.
Doesn't it seem that same money could be spent on something enjoyable? And even getting a term life insurance quote seems like such a hassle.
Well, life insurance is a formal contract for reducing risk by transferring the risks of many individuals to an insurance company against the likelihood of dying.
The insurance company agrees, for a consideration (i.
e.
recurring premium payments) to pay the amount of coverage to a named beneficiary on the death of the insured individual.
So it is a matter of risk reduction.
Risk of what? Risk of leaving loved ones who depend on you for income with no money should you be one of the unlucky ones who suffer an early death.
And as for term life insurance quotes being a hassle, that problem was solved years ago.
Today, term insurance quotes can be obtained online hassle free.
Simply go to your computer and search the internet for term life quotes and select one of the numerous web sites that are available for quoting life insurance.
Most will provide a quoting tool on their home page.
You fill out the quote form, answering several simple questions about yourself and where you live, the amount of coverage you desire and the term you would like the policy to be good for.
These quoting sites are independent of any insurance provider.
The software they use accesses the databases of most all of the major insurance companies and automatically do a term rate quote comparison for you.
The data comparison is provided to you instantly.
So it's really not much bother and you will have the peace of mind that the ones who depend on you for the income they need to survive will be covered if the worst should happen to you.
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