life insurance

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Who Needs Life Insurance? See Why You Do.

No matter your age or stage of life, you may have asked yourself at some point: “Do I need life insurance?” The topic of life insurance can be confusing, with several different types available. And sometimes it’s difficult to know how much coverage you need. It might help to understand the two main types of life insurance. Term life insurance provides coverage for a specified period of time — usually between 5 and 30 years. Permanent life insurance lasts as long as you’re living, as long as you continue paying the premiums. You can learn more here about the differences…

Top 3 Mistakes People Make When Buying Life Insurance

Buying life insurance is an important step to protect your loved ones’ financial future. But the process can seem overwhelming. There are ample opportunities to make a life insurance mistake when researching life insurance policy options. With so many options, different types of coverage and the prospect of gathering multiple life insurance quotes, it’s easy to end up with a policy that doesn’t fully meet all your needs. SelectQuote Licensed Agent and Conversion Supervisor John Schmidt shares some common mistakes and solutions for how to overcome those mistakes when buying life insurance. He also offers solutions to help you avoid…

Comparing Leading Life Insurance Companies

You insure your car, your health, where you live and it’s important to include life insurance in that list. After all, life insurance is about taking care of the ones you love after you’re gone. It’s important to review the leading life insurance companies to be sure you’re choosing the right life insurance policy for you and your situation. Reviewing Life Insurance Companies Take a quick look online and there are dozens of carriers offering what appears to be the same life insurance coverage. But while the products offered may be similar, it’s always smart to review quotes from more…

How to Make a Life Insurance Payout Go Smoothly

Having a life insurance policy is an important step in protecting your loved ones’ financial future. Of course, no one ever looks forward to the day they need to make a claim on their policy. And when that time comes, it can be difficult to navigate the stress of losing a loved one while filing a life insurance claim and receiving the life insurance payout. Fortunately, the actual filing of the life insurance policy claim itself is not very complicated.  Steps to Take When Making a Life Insurance Claim Contact SelectQuote  What’s the first thing you should do after the…

Paying too Much for Life Insurance? You Can Reshop Your Rates

It’s common knowledge life insurance is to care and protect your family. It’s easy when you contact us at SelectQuote to shop life insurance rates and policies from multiple carriers. Sometimes life gets busy and despite good intentions, we don’t get to the finish line with buying life insurance. And while we don’t recommend putting off getting life insurance, we know it happens now and again. Sometimes life insurance carriers may decide to change rates – sometimes lower and sometimes life insurance rates go up. Learning the how and why behind these life insurance rate changes can help you use rate…

Cost Comparison – Term Life and Whole Life Insurance

When deciding whether term life insurance or a whole life policy, also known as guaranteed universal life (GUL) is the right choice for you, one of the first places to look is to do a cost comparison of life insurance policies. Cost Comparison Term life insurance provides life insurance coverage for a defined period of time – the term. It is less expensive and has no cash value. If you live to the end of your term, your family won’t receive a payout. Term life insurance is the most affordable kind of life insurance coverage but it does not build…

Should I Get Life Insurance for My Child?

Buying Life Insurance for Children Most of the time, life insurance is to replace the earning power of a family breadwinner. Life insurance allows dependents to continue living comfortably in the event of a death. In almost all cases, children are the dependents, not the depended-upon. So, what is the point of life insurance for children if it isn’t to replace money for the household?  Generally, people recommend life insurance for children for four primary reasons: As a savings account. To protect the child’s later insurability. To pay for potential funeral expenses. To provide financial stability for parents in the…

Top 6 Questions to Ask When Buying Life Insurance

A number of factors go into buying life insurance and estimating your coverage needs. If you already know your financials, try our life insurance calculator. It will give you a sense of what you’ll need to consider for coverage. Plus, it offers three financial planning scenarios for what you could leave your beneficiaries. Here are a few more common considerations that go into buying life insurance. Does Your Employer Offer Life Insurance Coverage? If your employer offers life insurance coverage, it can be a cost-effective way to supplement your needs. Large employers negotiate group rates, helping with premiums. And those…

How to Get Life Insurance with a Chronic Illness

Getting life insurance with a chronic illness is not impossible. But many people don’t even try to find life insurance coverage because they assume it’s impossible. While 54 percent of adults with chronic conditions carry no life insurance, SelectQuote has agents trained to help people get life insurance with a chronic illness.   Health issues impact more than 133 million Americans – 45 percent of the population – have at least one chronic illness. Increasing numbers of adults live with a chronic illness such as obesity, asthma, cancer, high blood pressure, depression, sleep apnea, diabetes and other medical conditions. While the…

Life Insurance Calculator: How Much Life Insurance Do You Need?

Do you know how much life insurance is the right amount for you? Take a few minutes walking through our Life Insurance Calculator for the answer. And even if you have life insurance today, is it enough? It may cover your family’s expenses so take time to make sure you have enough life insurance coverage. About 1 in 5 with life insurance admit they do not have enough. No matter your situation, when it comes to figuring out how much life insurance is the right amount, our Life Insurance Calculator can help you get organized around your life insurance needs and…

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