Many people want to buy a life insurance policy, the poignant part of purchasing insurance is that the person who is buying an insurance just follows the advice of the financial advisor. As your advisor for a coverage that is suitable for you.

Ask yourself a few questions before you purchase your insurance. If you want to take care of your family’s needs after your death then insurance would be the best for them. Universal life insurance is considered a good investment plan as you get to pay small installments and then you can get a good return out of it.

However, there is more to universal life insurance policy than just cash build up. Since it is a life insurance policy, large part of the premium you pay is used for growing the death benefit and if you cash out the policy in your life time you lose that. Contrarily, if you save separately and put the entire amount in a mutual fund you are likely to get a better return. Now, I use the word ‘likely’ because just as mutual funds, most universal policies are equity based and so the return depends as much on the market condition as on how your fund manager handle the fund.

Some of the policies advertise a fixed return, as the money under such plans is invested in bonds and other secured funds the returns are not very high. If you happen to cash out of the policy then you will lose out on the portion that had been put in life insurance account to build up the death benefit. If you happen to die while the policy is still active, the insurance company will retain the cash value amount and release only the promised death benefit. Investing in the life term life insurance policy will be best for you as this is affordable.

Do you have any idea what is term life? This is an original policy that started where around 600 AD in Rome as a form of burial clubs and continued as Artisan Guilds throughout the Middle Ages. The prominent features of this policy are:

– A term is sold for a fixed term i.e. 1/5/10/15/20/25/30 years. The benefits are payable if the insured dies within that period.

– This does not accumulate any cash value and you only have to pay for the insurance cost. You will be glad that this type of insurance is affordable.

Buy term life if you want to protect your family (or your business) at an affordable rate. What is more, if you want to buy cheap life insurance online, it may be the only option. Since these policies are rather straightforward they can easily be bought online. Moreover, as the carriers do not pay much to the canvassers as commission, you will not find many of them canvassing these policies. That is why if you want to buy a term life, it will be more convenient if you buy them online.

If you want the term life cheap the you will have to meet a few conditions of the insurance company and then you need to be young, healthy and a non smoker. Any form of tobacco will only mean that you will have to pay high insurance rates. You can hire a financial advisor to help you get cheap insurance rates. There are some insurance companies that have special policies for term life insurance for cigar smokers, simply choose one of them.

On the other hand there is a catch in this too. If you understand all the different insurance companies will have different guidelines and if you research a little you will find that they charge differently for the same policy. You will not know much about insurance when you are buying it, so you can get a little help from the insurance broker to help you with buying one. Even if you are buying your policy online, choose a broker who can help you with buying a life insurance policy.

Article by David Livingston of EQuote, who\’s a specialist in everything relating to life insurance. If you are interested in getting more information about insurance whole life or simply would like to learn more about affordable life insurance quotes, you should visit his site today as there are a lot of information that you will find useful.

Article by David Livingston of EQuote, who is a specialist in everything life insurance. For more information, visit his site at http://www.equote.com/life-insurance/universal-vs-term-insurance/.

Author Bio: Article by David Livingston of EQuote, who\’s a specialist in everything relating to life insurance. If you are interested in getting more information about insurance whole life or simply would like to learn more about affordable life insurance quotes, you should visit his site today as there are a lot of information that you will find useful.

Category: Finances
Keywords: life term life insurance, term life insurance for cigar smokers , cheap life insurance online