Reader Question:

I want a 1 million dollar term life insurance policy and I live in Dallas TX with my wife and kids, I am 39 and a dentist. What do I need to do?

Alan,

Dallas, TX

Alan, enter your zip code in the box above then fill out the information on the interview screen. For a million dollar policy you will need to have an at home medical test and then the underwritting company will determine your risk and your annual premiums.

Donna

Reader’s Question:

Is it a good thing have term life insurance?  How would I know if it is right for me? What are the advantages and disadvantages of the policy?

Christine

Dallas TX

A good insurance policy is always a great way to go about with your life.  You get to do more yet still feel safe and secure for your family’s future.  In Dallas, several insurance policies are offered to give you the best possible options there may be.  There are accident insurance, universal insurance and variable insurance which are offered by various companies.  One of the most availed and inquired about is the Dallas term life insurance.  Basically, this insurance policy has a period of time for which it can be availed of.  Upon maturity, the insurance will expire unless extended by the holder.

This limits you to only a specific period to use the insurance policy.  The policy usually has a time frame of five years to thirty years.  This option is best for you, Christine, if you are still young and healthy.  Dallas term life insurance is cheaper and more affordable.  If you are in the market for an insurance policy that makes you pay less, then this is the best for you.  Take note of the benefits of your policy, it may come in at a lower price but the fact is the benefits may not be the same ten years after.  If it has an increasing benefit, it is a good purchase, if not, you had better think about it twice.

Dallas term life insurance policies have their edge against universal insurance policies.    They are simple and cost effective.  If you are not into the added benefits attached to a universal policy, then this is for you.  It usually has no added cash maturity values and complicated features.  Another good thing about this is it has a stable premium, which enables you to have a budget that needs not to be adjusted every year.

What is the biggest disadvantage of the term life insurance?  It has a term.  The moment it reaches maturity, your benefits are all erased.

Reader’s Question:

What are the advantages of getting a 30 year term life plan?

Irma

Dallas Texas

The premium rate of 30 year term life may come as expensive at start compared to 10-year or 20-year term plan, but in the long run it will come as cheaper. If you get your 30-year term plan when you are still young and healthy, you can easily qualify for a preferred plan with a low premium rate. As you grow older and may be out of shape, your chances of getting another preferred plan or a low premium rate will be slim.

Some people would go for 30 year term life insurance plan as they know that if they will choose shorter term, they may outlive their policies. Surely, they still need insurance after their policies expired. They will find it a hassle of going through another process of application and evaluation for a life insurance plan. Getting a 30-year term plan can give you peace of mind.

If you have a 30-year term, you get away with insurance companies renewal premium for those who want to renew and extend their insurance policy when its term is over. The cost of renewal fees is another saving you get from having a 30-year term plan.

If you are young and still single, it’s a good move to get a 30 year term life plan. Aside from being able to get the best underwriting class, you no longer have to worry about how to get life insurance policy when you are married and have kids when budget is no longer that flexible. Having the insurance policy at the start of marriage lets you and your spouse adjust your budget to accommodate that expense at the start of your family life.

Insurance premiums will always rise in line with general inflation. If you get a 30-year term life insurance, the premium rate you will be paying is only determined once which is at the time the policy is issued. As such, you and your premium are protected from the effect of inflation in the later years.

Reader’s Question:

I’m kinda’ interested to buy life insurance over the Internet. Are there any tips or things that I should know about before I do this? Thanks!

J. Wallace

Dallas, TX

The Internet has become arguably the fastest and most convenient way to buy life insurance these days. No longer limited to the mercy of agents and brokers, consumers now have greater chances of locating the life insurance policies suiting them. Here are some important tips to keep in mind when shopping for the best term life insurance online:

1. Get and Compare Life Insurance Quotes - Use life insurance comparison websites (like this website) to obtain free quotes. You will also be able to compare offers coming from a wide-selection of life insurers in your area, maximizing your chance of getting the best rates.

2. Pick the Best Company - Easier said than done? Not with the help of independent rating agencies. Agencies like J.D Powers, Moodys, and A.M. Best can provide a lot of important info (financial standing, customer service rating, claims handling history etc.) regarding life insurance companies. This will help you find the best insurer to do business with.

3. Setup Annual Payments - A great way to get discounts or lower rates is to pay a year in advance. Ask prospective life insurers regarding this.

4. Consider Higher Coverage Amounts - Many life insurers today can offer you better rates and other incentives in exchange for purchasing a higher policy “face value” or coverage amount.

5. Get Discounts - Always ask about discount offers. Don’t expect all life insurance companies to be upfront about this.

Reader’s Question:

I’m interested in getting life insurance and they say term life is the best, is this true? Also, how do I get the cheapest prices for life insurance?

Doug

Dallas, TX

Term life insurance certainly has a lot of advantages. It is a very simple and straightforward type of life insurance; it also offers significant amounts of coverage at affordable rates. However, your needs and financial goals will still dictate whether or not term life insurance is the best type of life cover for you.

If you just need life coverage for a certain number of years then term life coverage is highly-recommended. It is also great for people who don’t want all the sophisticated savings and investment features that make permanent life insurance policies so expensive.

So how do you get affordable term life insurance rates? Below is a guide to help you out:

Step 1: Use Life Insurance Comparison Websites

Save yourself time and effort by getting free term life insurance rate quotes online. Life insurance comparison portals or websites are an excellent way to compare many different insurers and offers all at the same time. Maximize your ability to find the cheapest rates.

Step 2: Consult Rating Agencies

Moodys, Standard & Poor, and J.D. Powers are valuable sources of consumer information. They rate the overall performance of different companies. Using these, you can easily find out which company/insurer has the best overall quality and service scores.

Step 3: Buy the Next Highest Coverage Tier

A number of life insurance providers actually offer lower rates if you buy bigger coverage. You might get additional perks that can make buying a bigger coverage amount worth your while as well.

Step 4: Go with Annual Payment Options

Most insurers do give discounts or lower rates for people who agree to pay a year in advance, in full. Ask your insurer about this.

Step 5: Live a Healthy Lifestyle

Nothing beats a healthy lifestyle (regular exercise, quit smoking etc.) since it makes you less susceptible to disease and illnesses. The lower your risk of dying sooner, the better your rates will be.

Reader’s Question:

How can you get cheap whole life insurance policy in Dallas?

Patty

Dallas Texas

Whole life insurance policies are the most expensive type of insurance due to the fact of cash value over time. It is a permanent type of type of coverage that will lasts a lifetime and as long as you are able to pay your premiums on time. As opposed to a term life plan, Whole life policies build cash value or savings over the duration of the plan which makes it an attractive investment for many people.

The internet is a useful and convenient tool to look for cheap whole life insurance quotes in Dallas. Most major insurance companies have a website where any consumer can request a quote for free. Make sure to receive at least three quotes so you can compare different rates. There are also plenty of online insurance brokers where you can simultaneously receive multiple quotes from several companies. If you consider purchasing a policy online, make sure you have investigated all the aspects of the plan before buying it. Here are a few pointers when looking for cheap whole life insurance.

When you compare online quotes, check to make sure that the policy offers premiums that are fixed. Even though a certain whole life insurance starts offers lower premium to start with, if that premiums are not fixed, you will end paying a cost that is significantly higher than the rest of the policies. Also, most whole life insurance policies may seem inexpensive because premium payments are stretched out over a long period of time. Therefore, when receiving an online quote, try not to consider only the monthly premium price but as well as length of time that you have to pay it.

Consider also the reputation and legitimacy of the insurance company in Dallas Texas when comparing for cheap whole life insurance policies. This means that the carrier is licensed in your state and is known for favorable financial ratings. You may research the financial standing or strengths of these life insurance companies from well known insurance rating agencies such as A.M. Best Company, Standard & Poor’s Insurance Rating Services, Duff amp, Moody’s Investor Services, Inc. and Phelps Inc.

Reader’s Question:

Where can I find the cheapest term life insurance in Dallas?

Belle

Dallas Texas

Term insurance is an effective way to ensure protection to your loved ones without a hefty cost to you in premiums. There a couple of ways to obtain it: online or through your local insurance company. In a term life insurance, you can buy a certain amount of coverage for a certain term such as 10 or 20 years for specified monthly, quarterly or yearly premiums. The process seems simple enough however you still have more important things to consider such as finding for the cheapest cost of term life insurance. So here are a few hints to help you save money and get the cheapest cost of term life insurance.

The best way to obtain the cheapest cost of term life insurance is to shop around. Term life insurance rates may vary from company to another. In shopping, look for those companies that can provide you their quotes for free. The quickest and easiest way to do it is to go online. In the internet, you can literally access through hundreds of free quotes from various insurance providers and compare them instantly right at the convenience of your own home.

You may also include in your research the company’s financial strength. There are several insurance rating companies found online. Choose those Dallas insurance carriers that have excellent ratings to ensure that they will be able to pay their obligations to you when the time comes.

Look for those Dallas term life insurance policies that guarantee renewal. This means that you are allowed by the insurer to renew your term life policy, after it has expired, for as long as you want it, regardless of your health.

Get a fixed premium term insurance policy. Most insurance companies offer their premiums at fixed rate for the whole term period. But there are some who may offer fixed premiums for the first few years of the policy but later on increases it. So if you find a premium significantly lower compare to other insurance providers, ask the carrier if whether it will be fixed for the whole duration of the term.