Online Life Insurance Quote


Life Insurance Quote

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What is insurance?

Insurance is transferring the risk of big loss from an individual person to a group of persons or insurance company.


How insurance works?

  1. So, insurance gives you a peace of mind.
  2. Protects you, when you need help or get sick.
  3. Protect your mortgage, loans, line of credits when you get sick or have an accident.
  4. Provide sufficient cash to buy something, when you lost.

Types Of Life Insurance

Term Insurance
  1. Provide insurance for specific term like 10, 15,20,30,35 yrs.
  2. Term insurance is most affordable insurance.
  3. Term insurance rates are guaranteed and one can buy single term, joint first to die, joint last to die.
  4. Renewable and convertible options- is a part of Term insurance means a person can convert it into permanent in the future without any medical.
  5. Who needs Term Insurance? - New comers, students, Business owners and people who are first time home buyers.
Small mistake VS Big mistake
$9.90 VS $250,000

Which mistake you want to make- small mistake which is $9.90 or a big mistake of $250,000

Permanent Life Insurance
Whole Life Insurance
  1. Permanent life insurance that provided minimum cash surrender value.
  2. Premium is usually higher than universal life insurance.
  3. Premium can be paid for life or for limited period such as 10 or 20yrs.
  4. If whole life policy is participating, dividend credited to the policy is called Policy dividend.
  5. If whole life policy is non-participating annual credit to the policy is a ‘Performance credit’.
  6. Policy dividend depends upon investment reforms, claim rates, expenses and mortality rates, lapse rates.
  7. Policy dividend is not guaranteed, it can increase or decrease depending upon.
  8. Once credited, policy dividend can never go down or back.
  9. Policy dividend can be used as
    • CASH: cash is taxable and assumed as policy withdrawal.
    • REDUCE PREMIUM: if annual credit is more, it can reduce the policy premium but it is taxable in the hands of policyholder.
    • PURCHASE BONUS PAID UP ADDITION
    • PURCHASE TERM INSURANCE
    • PREMIUM OFFSET
Universal Life Insurance
  1. Permanent insurance plan combining both cash accumulation and insurance protection.
  2. Universal policy is life a house, whereas term insurance is like a basement rent.
  3. Universal policy is transparent in design and flexible.
  4. Three things to keep in mind while buying universal insurance:
    • Cost Of Insurance: YRT (yearly renewable term)
    • Death Benefit:Sum insured or sum insured plus fund value
    • Investment Options:Guaranteed or fixed income or equities
  5. Also, one can buy single life, joint first to die joint last to die, add more lives or riders.
  6. Universal life also provide bonus after 4-5 years.
TERM INSURANCE 20 PAY GUARANTEED WHOLE-LIFE INSURANCE
Term 20- $35/month for $500,000 For male age 25, monthly cost is $100per month & for 20years
$420 per year $1200 per year
$420 * 20 year = $8400 for 20 years $1200 * 20 year = $24000 for 20 years
  • No saving
  • No cash value
  • It’s like basement rent
  • No insurance after term expired
  • Savings
  • Investment
  • Retirement planning
  • Protection
  • Emergency fund
After 20yrs, no insurance and money left, and if you want to renew, you have to pay $212/month for another 20yrs, & after that $1311.
On other side, 20 pay guaranteed whole life, no payment is required after 20 yrs.
Your insurance is paid up and if you want to surrender, you will get you money back.
After 20yrs, you family will get policy paid up, $200,000 and if you surrender you will get your money back.

SO, CHOICE IS YOURS

Do you know, four things can change your life, so, it's better to protect yourself before any of your life care tire burst.