save REALLY BIG on your life insurance
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Why is LIFE INSURANCE on this site? Because it fits the concept. It's something that people pay money for on a regular basis. Something this site can help you get cheaper and better.
But just so you know, we hate life insurance! That's 'cause most people get victimized by the life insurance 'triple whammy'. They're:
1) paying way too much for
2) way too little of the
3) wrong kind of life insurance.
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Paying too much - For years the insurance industry has been pushing "cash value" insurance products - the kind of life insurance where you accumulate cash in the policy. But, "cash value" type of life insurance costs a lot because of the "cash buildup" (it's your money anyway!), the commissions, and the expenses the insurance company charges.
Most people are surprised at how little a good, "pure", term life insurance policy will cost. |
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For too little - Because the "cash value" type of life insurance costs so much, many families go without. Most of the families that have this type of life insurance don't buy nearly what they need. I bet you know of a family where the breadwinner has died, had life insurance, but it wasn't enough to keep the spouse and kids from struggling.
Most families that need life insurance need 6-10 times the annual income of the insured. Only "pure" term life insurance is priced so that the average family can afford the right amount of coverage. |
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Of the Wrong kind - Why do people buy "cash value" life insurance policies? They don't. People are SOLD life insurance policies that "build up cash". But, any honest, knowledgeable financial advisor will tell you that a life insurance policy is usually an awful place to build cash. Up until a few years ago, the policies were designed to build cash for the insurance companies.
Unless you're using life insurance as a tax shelter, the best type of insurance is "pure" term insurance. It's what most families need. It's what most insurances agents can't afford to talk about - 'cause it's so cheap inexpensive. |
If you need life insurance, do yourself a favor and use this easy comparison service to find the best insurance policy for you and your family.
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