Life Insurance: A Firm Foundation

Monday, March 1, 2010

Life Insurance: A Firm Foundation (NAPSA)—Every month, almost a million Americans research and purchase a new life insurance oO SELECTQUOTE = Let uskeom what you think of eur xakeorer, o i policy. That’s because finance experts say life insurance is the foundation of a smart financial plan, particularly when there are family and loved ones who depend on a person’s financial support. On the other hand, however, more than a third of all adults carry nolife insurance at all and the majority rely on more-limited group life policies obtained through their employers. Replacing Lost Income “The value of life insurance is apparent to most people, even if they do not want to think about the subject,” says Charan Singh, founder of the life insurance company SelectQuote.com. “Life insurance replaces lost income and pays for the way of life a provider gives to his or her family. It ensures that house payments are made, meals are on thetable, bills are paid and dreams, such as an education, are realized.” Knowing The Difference Financial experts such as Suze Orman recommend term life insurance as opposed to permanent or whole life. Permanent insurance policies are just that—permanent. They accrue cash value over the insured’s whole life and perform more as investment instruments than as pure insurance. This generally makes them more expensive then term insurance. Term insurance is pure insur- ance and thus typically provides the most coverage for the dollar, Ucended namevariesbystate: Solecsvete InsuranceBencns,SeleciuoteIneuranco Agency. 2008SeleciQuominsurance Services.Alliottreserved. Financial experts say that without the foundation of life insurance in place, all other financial planning can be undermined. the best value. Thus, going with a term insurancepolicy is one of the best ways to save when considering life insurance options. Getting Value To ensure that you're getting the best value when purchasing a life insurance policy, it’s a good idea to research and compare prices online for different policies. Life insurance costs can vary widely depending on variables such as age, health and whether the person smokes. WhereTo Get Help There are a number of online sources you can consult when considering life insurance: For example, the American Council of Life Insurers (www. acli.com) has a rangeof information and brochures; SmartMoney (www.smartmoney.com) has an online insurance calculator; and SelectQuote (www.selectquote.com) can provide comparative life insurance quotes from more than a dozen leading insurance companies.

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