Where to Find Free Life Insurance Quotes

Getting life insurance quotes does not have to cost you money. If you are in the process of shopping for the most affordable life insurance plan that provides your family with all of the protection that they need, pricing the cost of insurance to find affordable rates is crucial.

At a minimum, you will be paying for life insurance premiums for several years. If you choose a permanent life insurance plan, you may even be paying for coverage for the remainder of your life.

When you are buying a product that becomes part of your long-term financial planning, comparison shopping is more important than it has ever been.

Just like buying consumer goods, you have a lot of options when you are buying individual life insurance. What is different is the fact that a life insurance policy, even if it is the same type of the same amount of coverage, is not exactly the same as another when you buy it from a different carrier.

There will be not only different pricing, but different policies, terms, conditions, and even features of the policy that you can take advantage of. This is why obtaining free life insurance quotes is important as you research your options and select a plan.

Be sure to always compare rates by using the FREE quote tool located above!

Here is your guide to where to go for life insurance quotes so that you can make the best move for your future:

What to Consider Before You Begin Requesting Quotes

Before you start planning to buy life insurance, chances are that you have done family financial planning.

Even people who are single and do not have children have a need for coverage and should make life insurance part of their financial plan.

Before you call an agent or drive to an insurance broker, you should have a basic idea of your goals and your family’s needs so that you know what type of insurance is best and how much you can realistically spend on premiums.

Here are four things to consider before you start to request any free life insurance quotes:

What is your purpose for buying life insurance?

Not everyone buys life insurance for the same reason. There are many uses of life insurance, and you need to know these uses before you can proceed to choosing a type of insurance or an amount.

The most common reason to buy coverage is to replace your income for your partner if you were to pass away. Another common reason would be to provide a stream of funds to pay off debt and to pay for child care expenses once you are gone.

Many needs for life insurance are temporary, but there are also needs that can be permanent in nature.

If your purpose for buying life insurance goes beyond paying off vehicle loans, credit cards, mortgages, or providing for those that are dependent on you financially, you will need a special type of permanent insurance plan.

Some permanent needs include: paying for estate taxes, paying for your final expenses, building a savings with your insurance proceeds, donating to charity, or passing on a legacy to your heirs. You need to consider the reasons that are most important to you before anything else.

How much coverage is enough coverage?

Now that you know what you need coverage for, it is time to determine how much coverage is appropriate to satisfy all of your needs.

If you are buying insurance to guarantee that your family will live comfortably after your death, you need to determine how much capital your family will ultimately need when you are gone. You will need to consider both the immediate financial obligations your family will have and the future income stream that will be needed to sustain the household.

There are helpful life insurance needs calculators available from unbiased non-profit organizations like Life Happens. These tools can give you an idea of the big picture so that you have a general sense of how much insurance is appropriate. If you have other financial plans for your life insurance, you will need to consider those plans when you are deciding on a final amount of coverage.

What is your budget?

Part of financial planning is having a running budget. You need to list all of your debt, your monthly payments, bills, and also other living expenses you will need to set aside money for. Life insurance premiums should be part of your monthly budget.

You need to consider how much you want to pay and how much you can realistically pay for a specified amount of coverage. Once you set a budget, you are well-equipped to start comparing free life insurance quotes.

What type of insurance is best?

The type of life insurance that you purchase plays a major role in the cost.

There are two basic types of insurance that you can choose from to satisfy very different needs. These two types of policies are called term insurance and permanent insurance.

They each work differently and have dramatically different costs.

Understanding how the two differ is crucial if you want to stay within budget and also satisfy all of your short-term and long-term needs. Here is a breakdown of each:

Term Insurance

Term insurance is a temporary policy that offers you pure insurance. In exchange for a low monthly premium, you will receive a level death benefit for a specified period of time.

If you were to pass away during the term, the beneficiaries of the policy would receive a payment for the death benefit.

The policy will end once the term is up, and you may have an option to renew if you are still in good health. Term insurance is suitable when you are buying insurance to cover financial obligations that will go away or to replace income that you will not earn in retirement.

Permanent Insurance

Permanent insurance will last up to the age 100 or for the remainder of your life. Instead of being a product that has pure insurance, it offers both insurance and an investment component where your premiums can earn interest.

Because of the investment component, this policy is more expensive (sometimes up to 10x the cost of term insurance).

If you want a savings vehicle or you want lifetime coverage, permanent plans are ideal.

How to Get Free Quotes

Now that you know what type and amount of coverage you want, it is time to start getting free quotes. There are a variety of ways that you can get quotes for free, and the option that you choose will be based on convenience and your own personal preference.

In today’s modern times, you can get quotes the traditional way or the modern way preferred by the busy bee. Here are your options:

Quotes Direct Through the Insurer

One option is to contact the insurance company directly for life insurance quotes with the carrier. There are several ways that you can request quotes direct and these methods include the phone, email and in person.

If you like to deal with agents face-to-face, locate an agency near you and make an appointment. If you prefer personal contact via email, you can email the agencies or visit the website for quotes direct.

Most companies also have 1-800 phone numbers where sales agents are standing by the offer quotes all day long.

One of the drawbacks of direct quotes is that you are dealing with captive agents. This means that the agent is only able to offer you quotes from the carrier that they represent. They represent the company instead of representing your best interests.

Quotes With a Broker

The difference between a broker and an exclusive agent is that the broker is licensed to offer you policies through multiple carriers. Instead of working for the insurance company, the broker works for you.

This means that they will shop the market for you and match you to the best policy that meets your needs.

Brokerages are one-stop shops and you get free quotes, but you will end up paying a fee in the end. This is the only drawback of this option.

Online Quoting Tools

If you want the best of both worlds, you should consider a brokerage-style online quoting tool.

These advanced tools give you access to free quotes online from the comforts of your own home from all of the top insurers.

The best thing about these quotes is that you do not pay to be matched to best policy.

Life insurance is not one-size-fits-all. You cannot rush into a purchase when you do not know what you need. Once you determine what you need and what you need it for, you can begin to request free life insurance quotes from many different sources.

If convenience is your preference, using online rate comparison tools will give you instant access to the life quotes that you need to compare premium costs. Use the FREE tool at the bottom of this page!