Who Needs Life Insurance Term Life Insurance?

There are many reasons for purchasing life insurance term life insurance, the main one being the need to provide financial security for one’s dependents.  The choice of who gets instant term life insurance quotes really depends on the current family budgets and future financial needs.  You can get a life insurance quote on line that will direct you to the right websites where you can find the perfect plan for your needs.

Here are some of the different life insurance policies available for different sections of people and their uses:

• Children

• Parents

• Single adults

• Seniors

Most parents do not take an insurance policy for their children.  Parents often take a policy on their own lives and name children as beneficiaries or add children on their own insurance plans.  However, in certain instances, a parent could take insurance on the life of their child to provide him or her with a nest egg that can go into a college fund.

When you request instant term life insurance quotes for children, you will find that the rates are very low and it is easy to get an affordable policy.  Furthermore, the face value is usually $10,000 or less and if taken for at least 20 years, it will build up a good savings option for children.  When the policy matures, children by then are adults and can use the money to buy a car, make a down payment on a home or use it for education purposes.  Most parents opt for term insurance for children and these can be taken without the child having to undergo a medical exam.

If a parent wants to take insurance on his or her life, then it is best to take it when young and to opt for term insurance.  This is the most economical especially for a salaried person.  If a stay at home parent takes a policy, the coverage must be enough to hire a person to take care of essential tasks at home in the eventuality that they need to work.  Instant life insurance provides financial protection when a parent dies.  If you do not have the time to process a lengthy application, instant quotes are available that can be answered online without the need for a medical exam.

Very often single adults also take an insurance policy even though they may not have a wife and kids.  They often opt for a permanent plan like universal or whole insurance that will last their entire life time.  The money pays off funeral costs without having to place the burden on siblings, parents or other relatives.  The rest of the money accrued can be donated to a favorite charity or given to family members.

Seniors are the most difficult age group to get affordable insurance plans.  The age and health condition of seniors often means that either an insurance provider will reject their application or will charge them very high rates if they go in for a no-exam insurance policy.  Yet, a search for online insurance quotes will help even a senior citizen get affordable coverage and this money provides protection to the surviving spouse.  It can also be used to pay for funeral expenses and all outstanding medical and nursing care.  Very often seniors will find themselves in an old age home where costs could be high and make it difficult for working children to meet these expenses.

In such a case, a senior can take an insurance plan that will provide enough coverage to pay off nursing home expenses by naming the home as their beneficiary.  Many children encourage parents to do this so that their parents will be well taken care of and they need not bear the nursing cost.  It is important to investigate fully all insurance policy options before settling for one.  Taking time to educate yourself will help you make a prudent choice of the right insurance policy.

Useful tools are available when you request for a life insurance quote on line. There are many insurance comparison websites where it is possible to educate yourself about different plans and compare rates and other terms and conditions offered by different insurance providers.  You can study about the various types of policies available and get instant and free quotes online that will help you compare whole, term, variable and universal insurance rates, coverage and other terms from the top insurance carriers.  The ability to do all this from your home makes an online quote all the more attractive.

Article by David Livingston of EQuote, who is a specialist in everything life insurance. For more information on instant term life insurance and seguros de vida universal, visit his site today.