Term Life Insurance Rates
By Matrix Direct
Everyone likes to save money, especially on term life insurance rates. But does getting cheap term life insurance mean you have to sacrifice quality? And what exactly is "quality term life insurance?"
The simple answer ... it depends. And that's where a little homework comes in.
First, consider what quality means to you when it comes to life insurance. Term insurance isn't a tangible purchase like buying a nice car, expensive clothing, or a fine dining experience. You can't rate it in terms of materials. Instead, you're purchasing peace of mind, a feeling of security for loved ones, and a financial nest egg if something should happen to you.
From that standpoint, quality is delivered by less tangible concepts, like service and integrity. A quality life insurance company will have:
- The financial strength to pay your beneficiaries.
- Efficient claims processing, to ensure swift payment of funds.
- A longstanding history of honoring claims.
- High customer satisfaction.
- No hassles or delays.
- Excellent follow-up.
- High ratings with independent ratings companies, such as the Better Business Bureau.
- A professional, personalized approach to questions, service and customer care. You should be able to consult with a professional when you or your loved ones need to. And it should be convenient.
All of these factors constitute "quality term life insurance" and ensure maximum peace of mind. The goal now is to get all of this for a cheap term life insurance rate.
Term life insurance rates: Four tips to save
Affordable term life insurance is all over the Internet. To get the cheapest term life insurance with the best quality, try these four things.
- Shop around for the best term life insurance rates.
It's pretty simple advice, but some shoppers don't really know where to start. Many companies, including Matrix Direct, will compare policies to find you the most affordable term life insurance. You can often save as much as 70 percent on term life insurance rates.
Is it lesser quality? Not at all! Often, it's just a case where large volume allows a huge savings for the same term insurance you might find elsewhere. You get the same quality coverage for fewer bucks.
- Consider big-name term life insurance companies.
The biggest names in term insurance often have the volume and financial strength to provide low cost term life insurance. It's also easier to assess their history, ratings and financial strength.
- Ask about payment options for your term insurance.
Sometimes, a little question here or there can mean the difference between affordable term life insurance and cheap term life insurance. One way is to see if you can save by paying one year at a time. Another is to ask if there are any savings available if the life insurance premium is automatically deducted from your account each month.
- Calculate the number of years you actually need for yourlife insurance term.
Do you need a term insurance policy for 30 years? Or will 20 protect your loved ones sufficiently? Also, many don't realize that it's possible to get a term insurance policy to fit the exact number of years you need. For example, 22 years, 27 years, etc. This is a great way to get good quality, and an affordable term life insurance tailored to your needs.
Cheap term life insurance: Make quality a priority
Work with an agent to get affordable term life insurance rates. And when you find cheap term life insurance, be sure to look at the quality attributes. After all, the cheapest term life insurance means nothing if your beneficiaries get nothing, or if they get tangled in red tape to get their money.
Term life insurance is one of those rare products where you really can have the best of all worlds...excellent quality, and low cost term life insurance rates. Your best bet is to talk to an agent. Tell them you "want it all" and let them help you get the most for your money!