Choosing a Policy

You will have several different types of policies from which to choose when you apply for discount life insurance quotes. Here is a helpful guide to inform your decision.

Term Life Insurance

One type of policy on which we offer discount life insurance quotes is term life. Term life insurance is the most basic and most economical type of life insurance. Term life offers a certain amount of coverage for a limited amount of time, usually 10, 15, 20, or 30 years. If you die while your policy is in effect, your beneficiaries will receive a death benefit. If you are still alive when the policy expires, your coverage will cease unless you renew. Term life can generally offer the lowest discount life insurance quotes, but it can quickly become unaffordable later in life, as premiums increase as you age. Here are some facts you should know before you apply for discount life insurance quotes on a term life policy:

• Term life can provide a large amount of protection on a limited budget
• Many term life policies can be converted to permanent life policies at any time
• Term life is a good way to supplement existing life insurance coverage
• Your policy has no further value once it expires
• Premiums will increase with age and may become prohibitively expensive eventually
• Death benefits are usually tax-free

Permanent Life Insurance

We also offer discount life insurance quotes on permanent life policies. Permanent life policies provide a lifetime of protection with premiums that remain the same for the life of the policy. We can offer you discount life insurance quotes on the following types of permanent life policies: whole life insurance, universal life insurance, and variable universal life insurance. Permanent life insurance has the ability to build cash value, so it can also serve as an investment vehicle. You will notice that discount life insurance quotes on permanent life policies are higher than quotes on term policies, but permanent life may actually be cheaper in the long-run. Premiums will never increase with a permanent life policy, and your policy also builds value over time, which makes it the better long-term investment. Here are some facts to consider before applying for discount life insurance quotes on permanent life policies:

• Policy accumulates cash value that be withdrawn or borrowed against
• Earnings, and some withdrawals and loans may receive tax-favored treatment
• You receive the cash value of the policy upon cancellation
• Permanent life insurance is initially more expensive than term life
• Premiums do not increase with age
• Enjoy a lifetime of protection
• Loans and withdrawals against the value of the policy usually reduce the death benefit

If you have any questions, please visit our Frequently Asked Questions page.