Instant Life Insurance Quote

The typical consumer purchases insurance plans to mitigate various risks. For example, people buy car insurance policies to protect their automotive investments. Health insurance plans provide funds for necessary medical procedures when unimaginable emergencies arise.

However, there is one unpleasant risk that many hesitate to consider. All lives must eventually come to an end. When an individual passes away unexpectedly, his or her family members often face dire complications. For this reason, many caring consumers look for an inexpensive instant life insurance quote to protect their family members from an economic catastrophe.

While most rational consumers spend the majority of their time planning for events that will occur while they are still alive, fatalities often happen without warning. When a person dies suddenly, grief might not be the only burden for family members to bear. For example, funerals are very costly. In some cases, families must come up with thousands of dollars to provide for a proper burial or cremation.

Also, parents often pass away while children still depend on them for financial assistance. If a father or mother is the sole provider for a loving family, it would be wise for the head of the household to find an instant life insurance quote that delivers adequate coverage. Parents enjoy peace of mind when they know that their children will be cared for if an accident happens.

When you are considering the potential value of an instant life insurance quote, it is important to understand the various types of policies that companies offer. Consumers often misunderstand the specific details that distinguish one class of coverage from another. For people in pursuit of an instant life insurance quote, the following descriptions should clarify the purposes of some of the most popular forms of risk mitigation products:

• Whole Life Insurance: A whole life policy is a type of permanent insurance plan. Essentially, the owner of the plan pays a fixed premium throughout his or her entire life. When the policyholder dies, a death benefit is paid to those individuals provided for in the agreement. Some whole life plans accrue a cash value from which owners can take out loans. You might receive an instant life insurance quote that offers whole life coverage while allowing you to stop making payments after a fixed period of time. These arrangements are referred to as “limited pay” plans.

• Universal Life Insurance: Universal life policies are also permanent insurance plans. However, these arrangements are more flexible than whole life alternatives. Essentially, policyholders can pay above the insurance cost to increase the cash value of their plan. Higher cash values yield better returns. If the owner fails to pay his or her premium, a penalty is deducted from the total value of the policy. This differs from whole life plans when such a failure to pay would result in a coverage lapse.

• Accidental Death Insurance: Accidental death policies cover a limited number and type of causes of death. If you pursue an instant life insurance quote to cover accidental death, you may notice that monthly premiums are substantially lower than other types of permanent life insurance. However, these plans are less likely to cover a wide range of potential outcomes.

• Temporary Term Life Insurance: Temporary plans provide coverage for a fixed period of time. These policies do not allow the owner to accrue a cash value. A temporary insurance plan’s coverage does not extend past the term specified in the agreement. However, one might find a fairly inexpensive instant life insurance quote while shopping for term life products. With lower premiums than permanent plans, many cash-strapped consumers prefer temporary life insurance policies.

While your own untimely passing is an unpleasant event for which to make plans, your family members will appreciate the gesture. When a person dies, survivors have to cope with grief. Luckily, one must simply find an affordable instant life insurance quote to prevent financial problems from further complicating the grieving process.