Life Insurance Amount Calculator
How much life insurance do you need? Before getting quotes, you should calculate the required amount. Don't skimp on life insurance, but remember that people with no dependents may not need life insurance at all.
To estimate the amount of a life insurance policy, calculate your dependent's living expenses if your income is no longer available. Most life insurance consultants recommend five to ten times your annual income. Use our calculator for a quick estimate, or consult with your financial advisor.
Life Insurance Cost Estimator
When buying term life insurance, it is important to estimate costs and get quotes, since term insurance is a commodity with no accumulating value. The premium rate is set by the insurance company, who then provides it to the insurance agent. The agent is forbidden by law to quote differently. The price you pay for a given life insurance product will be the same no matter from which agent you buy it.
Before obtaining quotes from an agent, estimate the cost for the insurance amount you have calculated. To assist you in this regard, we have obtained access to an accurate online quoting system. We access it for you when you use our life insurance cost estimator.
Life Insurance Quotes
Now that you have calculated the amount of life insurance, and estimated the cost, you can proceed to obtain quotes and purchase the lowest cost policy for which you qualify. The variable here is in which rate category the insurance company will put you during the underwriting process. If you work with an inexperienced insurance agent, he or she may quote you a low rate for which you don't qualify. You will find out about this weeks later, when the insurance company rejects your application and you have to start over.
Experienced agents can spend a few minutes with you on the phone, once you have completed a quote request form, and help you determine the rate category which the insurance company will probably use for you. We recommend that you work with an independent agent, with access to an independent database, so that you will get life insurance quotes for the lowest rates for which you qualify.
A good source for quotes is Interlinx.com. Before seeking the help of an agent, you might want to research the most competitive life insurance companies first. You can do this at Life-Insurance-Companies.com