We all know it’s a good idea to have life insurance to take care of our families when we inevitably leave them. However, shopping for life insurance can be a stressful process. Let’s be honest here—doing laundry and shopping for life insurance are the two parts of adulting we’d all like to skip, but that wouldn’t be adulting.
It’s a good thing there’s SelectQuote to help you find the right life insurance company and policy for budget and needs. Read more to learn a little about shopping for life insurance and how SelectQuote can take the stress out of the process for you.
Why should you shop for life insurance with SelectQuote?
As you know, shopping for life insurance can be an adventure in and of itself. Truthfully, there should be “shopping for life insurance” insurance to protect you in case you develop a health condition while searching through and weighing your insurance options.
SelectQuote understands the need for affordable life insurance, and they also understand that it takes a lot of time and patience to do your due diligence. That’s why they do the work for you. SelectQuote Life Insurance partners with over 50 life insurance companies across the United States, and they’re dedicated to finding the insurance provider with the right term or whole life insurance policy for your needs.
What’s the difference between whole life insurance and term life insurance?
One of the major decisions you have to make when you’re shopping for life insurance is whether you want a term life or whole life insurance plan. A term life insurance policy is one that covers you if you should pass during the term of the policy, which is typically 10, 20, or 30 years. A whole life insurance policy will cover you for your entire life as long as you continue paying your premiums.
Term policies are better for healthy young people who want to save on life insurance. However, one of the great things about whole life policies is they accrue cash value as you make your premium payments.
What factors determine the cost of your insurance policy?
Even though SQ can do your shopping for you, you should still know the factors that determine life insurance costs. How else will you know if you’re getting the best price (or even the right price) on your life insurance policy?
One of the main factors in deciding your insurance premiums is your health. To qualify for most policies, you have to take a medical exam as part of the underwriting process. Furthermore, you also have to answer questions about your personal and family medical history. Of course, the better your health and medical history are, the better your chances will be of getting the cheapest rates. Your age is also a major factor in your life insurance rates. The longer your life expectancy (barring a catastrophic event), the more insurable you are in the eyes of insurance companies.
Can you use SelectQuote to compare other types of insurance?
It’s a good idea to have insurance for all of life’s big expenses. The good news is you can use SelectQuote to find more than just life insurance. Indeed, you can use SelectQuote to shop for home and auto insurance. You can even use it to shop for and compare Medicare Advantage plans to cover all the things your regular Medicare plan doesn’t cover.
Shopping for life insurance can be a hassle. There are so many insurance companies and policies—who has time to go through all their options to get the best rate?
When you shop for a life insurance policy through SelectQuote, an actual licensed insurance agent does your due diligence for you. They can save you a lot of money, time, and stress in the process. Not to mention, you can also use SelectQuote to get the best rates on your homeowners, health, and auto insurance, too. So, are you ready to get your free quote with SelectQuote?