Life insurance can be quite expensive, but that doesn’t mean you have to or should go without it. That being said, because life insurance commissions are some of the highest out there, often life insurance agents don’t have your best interests at heart. Many people end up paying far more than they need to pay for life insurance. There are basically two types of life insurance: term life insurance and investment life insurance. Investment life insurance is always more expensive than term life insurance. For most people, term life insurance is the better option. Generally, the premiums for cash value policies can be 2 to 3 times as much as those for term coverage. For a twenty year old who cancelled his whole life insurance policy and chose to instead use term4sale.com to find the cheapest term policy, this decision could be worth nearly $850,000 at retirement.
- http://www.naic.org/documents/consumer_guide_life.pdf This is a great resource from the National Association of Insurance Commissioners that will help you better understand life insurance and what you are really getting.
- http://money.cnn.com/magazines/moneymag/money101/lesson20/index.htm this is a great article explaining why term life insurance is generally a better deal.
- www.term4sale.com is one of the finest tools for finding the best rates on term life insurance. See how much you could save today. The nicest part is that the site is not trying to sell you anything.