Life insurance

least expensive but not least important

Life insurance is less expensive but not less important than health insurance. The reasons for the price difference are obvious but the importance may not be as obvious. Life insurance is designed.

A working adult with dependents should typically have six to ten times their annual earning in life insurance. For example, a parent earing $50,000 per year should have between $300,000 and $500,000 life insurance coverage. In the event of death, and assuming solid financial management of the policy benefits, the family's minimally required income could be maintained to support the dependents for a reasonable period of time to allow for lifestyle adjustments. It is estimated that about 2/3 of adults are underinsured and so the family could not financially survive a premature death without major financial stress.

Life insurance policies can be issued directly online or - for larger amounts of coverage - the applicant may elect to provide the results of medical screening tests to the insurance company. Typically a healthy applicant whose body build or BMI index is within the ideal range will save money by taking the extra effort of allowing a paramedical examination and blood test as part of their life insurance application process.

Freedom Benefits offers a free multi-carrier online life insurance quoting system called the QuoteIntelligence Term life insurance. Because of the wide range of options and "non-published" details about the available options it always makes sense to speak with an enrollment adviser before starting the search and application process.

Frequent travellers should consider an international life insurance policy to avoid the exclusions common in most domestic policies.