As you can see on the right side of the website, there is a widget called Life insurance needs calculator. This calculates the life insurance needs that would be necessary based on the given information that you’ll give to the calculator.

On the “Desired Annual income”, input the desired yearly income you want to get based on the needs of you or your family.
On the “Number of years income is needed”, jot down the number of years you will be needing the income.
On the “Assumed rate of return”, put in the interest rate (in percentage) you are expecting the insurance company to get.

And after you’re done, click on the big “Calculate!” button to see the amount of life insurance you need.

This would surely help you a lot on knowing how much life insurance you’ll need based on your necessities. So what are you waiting for? Take the chance to try the life insurance needs calculator!

When you are looking for term life insurance rates it is important to understand what this type of insurance entails. Understanding what term life insurance is will enable you to make an educated decision when it comes time to choosing a provider. this is essential to getting the coverage you need at a rate you can afford.

In its most basic form term life insurance has one function, to provide your beneficiaries with a lump sum of money when you pass away. In many instances term insurance policies are the most cost effective and offer the lowest premiums. That being said, life insurance rates vary from company to company; not to mention the fact that within one company there may be a bevy of different term insurance options.

Term life insurance is exactly as it sounds, an insurance policy that covers you for a limited time frame. Generally, term policies are offered in increments of 10, 20, or 30 years. The rate for a term policy is fixed, so during the agreed upon time frame it cannot be adjusted. When the term for the policy expires, you have a choice between relinquishing your coverage, or renegotiating the rates and conditions of the policy.

Term was the original form of life insurance. It is still widely regarded as the least expensive way to give your beneficiary a large sum of money when you pass away. Within the industry most experts believe that term policies are the best way to supplement the loss of an income in the event of death. In most scenarios you cannot borrow against the value of a term policy. Generally, this type of life insurance is solely a death benefit and nothing more.

The “con” so to speak of a term policy is the fact that it does expire. Let’s say for example you purchase a term policy that lasts 10 years. If you die within that 10 years your beneficiaries will receive the value of your policy. However, if you contract a terminal illness during that time frame and the policy expires before you pass away it is unlikely you will be able to get another policy because you will then be considered uninsurable.

As you can see, before getting life insurance quotes there are many things you need to consider. A reputable insurance representative from an established insurance company can help you better understand the ins and outs of term policies and the varying options among them. Getting a minimum of 4 quotes for term life insurance rates is the best way to determine you are getting a product you can afford without sacrificing the coverage you need.

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Pros

Solid reputation

Well-established

Stable company

Above average customer service

Cons

Higher priced policies

Earning above average consumer satisfaction scores, more than half the current policyholders with New York Life Insurance have had their policy for more than 3 years. Better yet, when surveyed about their experience with the company over 75% of the existing policyholders would say they are extremely satisfied with the company. What’s more, is that over 80% of current New York Life Insurance policyholders plan to stay with the company.

There is a number of things that make New York Life one of the premier life insurance providers globally. First and foremost is their 24 hour claim service, which allows policyholders to connect with a claims representative regardless of the day, or time for which the need arises. Payments for polices can also be set up for automatic withdrawal from the policyholders paycheck so they don’t have to worry about missing a payment and having a laps in coverage. Payments can also be set up for auto draft from the policyholders bank account.

There is a number of other features that make this company attractive to potential customers. One such feature would be the waiver of premiums for qualifying low income members. Consumers also enjoy the multi-policy discount and multiple benefit options they offer. Get free, instant New York Life Insurance quotes now by filling in your zip code above.

With more than $55 billion of insurance in force, Global Life is committed to providing secure life and health insurance protection to their policyholders today and in the future. You can be assured Global Life will be there when you need us the most.

Global Life is proud to provide life and health insurance coverage to over 3.8 million policyholders. In 1951, two founding fathers brought Global Life And Accident Insurance Company into existence with $60,000 of borrowed capital and a determination to offer the very best health and accident insurance available to rural communities.

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Insurance is SOLD
As a consumer you want to shop for a product and buy what you need. However, what you need and what an insurance representative tells you that you need are two completely different things. No matter how much you like the person selling your life insurance they are a salesperson. It is there job to sell you a product. The more they sell the more commission they make and the higher their overall sales totals with their company will be. In many cases insurance agents will push whole life insurance policies because they are more profitable for them and the company they represent.

Term vs Whole
There is a variety of insurance products available and a variety of different insurance companies selling them. That being said, the two primary insurance types are whole and term. Term policies cover the insured for a agreed upon time frame and have guaranteed benefits. Whole policies are more expensive generally and they are built on a series of assumptions that may or may not come to fruition. This makes a whole policy more flexible, but more risky than a term policy.

Insurance and Investments Should Be Separate
Whole life insurance policies often combine investments with the coverage to make them more flexible and in some cases more profitable for the policyholder. However, investments independent of your life insurance policy are far more likely to yield profits. What’s more, is that insurance options that blend with investments hold far greater risks in most cases. Most experts recommend that you buy enough term life insurance coverage to meet your needs and keep your investing and insurance separate.

Honesty Gets You The Best Policy
When you buy life insurance you are asked a myriad of questions about your health and lifestyle. The absolute worst thing you can do in this situation is lie about unflattering facts. If you are currently, or were previously a smoker list it. If you are overweight, list you weight accurately. If you get a quote, or even worse a policy based on fictitious information it may cause problems when it comes time to collect because insurance companies do investigate claims before making pay outs.

Insure Yourself While You Are Healthy
Don’t wait until you develop new health issues to shop for life insurance. The healthier you are the lower your rate will be, but past health issues will affect your rate too. Once you have dependents it is advisable to shop for life insurance policies that will take care of them in the event of your death.

Get Multiple Quotes

Most insurance industry insiders would agree that the biggest favor a consumer can do for themeless when they are shopping for life insurance is to get more than one quote. In fact, it is advisable to get a minimum of 4 quotes. This enables you to get the absolute best rate available to you.

Choose a Financially Strong Company

There is no point getting life insurance if the company you buy from is belly up by the time you need to use it. Investigate the life insurance companies you are interested in buying a policy from before signing on the dotted line. Make sure they get solid financial ratings with groups like A.M. Best, Moody’s, Standard and Poor’s, Duff and Phelp’s, Weiss and Fitch.

Don’t Wait

The absolute worst thing you can do is wait to shop for life insurance. The older you get the higher your premiums will be. What’s more, is that your health issues past, present and projected future are taken in to account regardless of when you shop for your policy. As soon as you have dependents you should get a life insurance policy.

Stay Safe and Live Healthy

If you smoke, drink and participate in dangerous leisure activities your life insurance premiums will be higher. There is no point in lying about these things because you will only put your policy at risk of being void when a claims agent investigates it when you pass away.

Watch for Red Flags

If an insurance representative claims to have more knowledge of an insurance company than the rating agencies, or says that ratings are not important walk away. An agent worth their salt knows about these agencies and appreciates their relevancy to consumers. Getting cheap life insurance does not mean you have to sacrifice quality, plenty of reputable companies offer affordable life insurance.

Ing Life offers Term, Universal and Variable life insurance policies along with fixed, index, variable and immediate annuities. The company receives superior ratings across the board from consumer ranking agencies like A.M. Best and Moody’s. They offer rock solid financial stability, which means they undoubtedly have the ability to pay out claims. In addition to this, a recent poll of their policyholders revealed that more than 60 percent were happy with their overall experience with the company.

Term life insurance with Ing is affordable and offers consumers a guaranteed death benefit. Both traditional term policies offered in 10, 15, 25 and 30 year increments and variations on traditional term are available through Ing. The premium endowment feature is available on Ing’s term life policies. This offers members who out live their term policy the option of getting their premiums back after the term has expired.

Ing Life also offers consumers universal life insurance coverage. Universal coverage with Ing has more bells and whistles than the term plans they offer. Coverage for college funding, retirement and investments can be worked into the universal plans they offer. Best of all, universal coverage with Ing allows consumers to build a tax deferred cash value they can save for future use. That said, the benefits of an Ing universal plan are contingent upon premiums being paid on time, all the time.

Other life insurance products offered by this company would include their Survivorship universal Life, Indexed Universal Life and Variable Universal Life. To learn more about these less traditional offerings from ING Life Insurance contact a representative for a free quote now.

Life Insurance Company Ratings

A variety of consumer rating groups have done the leg work for you, comparing and evaluating life insurance companies based on their consumer satisfaction ratings, financial stability and a bevy of other features such as products offered, ease of use and claims pay outs. That being said, how do you know which consumer rating group to trust. Shop For Life Insurance reviewed all the information from the most respected consumer ratings groups and we compiled a list of the best life insurance companies in the business. We want the best for you, so we only work with the best!

Top Six Top Rated Life Insurance Companies

• => Banner Life Insurance was founded in 1949 as Government Employees Life Insurance Company. It is one of the largest financial institutions in the world. More than half of Banner’s policyholders give them high overall satisfaction ratings.

• => Globe Life Insurance company started offering health and accident insurance to consumers in Oklahoma in 1951. Today they offer a bevy of insurance products from coast to coast. Impressively, Globe boasts a &5 percent customer satisfaction rating.

• => ING Life Insurance is one of the top five providers of life and retirement insurance in the United States. Don’t judge them solely on their popularity, they also rate well with their policyholders with nearly 60 percent giving them the highest satisfaction marks.

• => Monumental Life is both one of the oldest, and largest life insurance companies in the United States. In addition to offering whole, term, universal, group, annuity and long term care plans, Monumental offers cancer care, disability and accident polices. Best of all more than half of there customers give them the highest marks for overall satisfaction.

• => Stonebridge Life may not be the biggest name on the market, but they have been providing consumers with life insurance for more than 30 years. In addition to offering term and whole life insurance, Stonebridge Life also Supplemental health insurance plans. More than 70 percent of policyholders with Stonebridge Life report being “Very Satisfied” with the company overall.

• => Founded in 1845 New York Life is among the strongest and most stable companies in the financial services industry. With a primary focus on traditional life insurance plans and annuity products New York Life gets top notch ratings from virtually every ranking agency. More telling is their favorability with their customers; 76 percent of the policy holders reported being extremely satisfied with New York Life.

*Company ratings as of 07/24/2009. Subject to change without notice.
** A dash (-) indicates that the company wasn’t rated or ratings were out-of-date.

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In a recent poll, more than 70 percent of the policyholders with Stonebridge Life report being very satisfied with their overall experience with the company. This company offers both term and whole life insurance policies. The majority of the policyholders with Stonebridge renew their polices upon expiration.

Term life insurance with Stonebridge comes in a variety of different packages. Term to Age 70 offers up to $75,000 in affordable term life insurance coverage for individuals age 18 to 59. Short Term Life Insurance with the company allows consumers to pay for just one year of coverage in amounts ranging from $25,000 to $100,000 for people who are between the ages of 18 and 59.  Stonebridge also offers 10 and 20 year Term insurance in amount ranging from $25,000 to $100,000 for individuals between the ages of 18 to 50. Juvenile Term allows people to cover their children, or grandchildren ages 3 months to 18 years.

Although it is only available in certain areas, Stonebridge Life also offers a variety of whole life insurance products. This allows consumers to have life long protection while simultaneously building upon the cash value of the plan. Underwritten Whole Life insurance offers up to $25,000 in coverage for final expenses for individuals between the ages of 18 to 75. Simplified Whole Life insurance offers up to $10,000 in whole life insurance coverage plus an additional $5,000 in accidental death coverage for people who are between the ages of 45 and 89. They also have a Modified Whole Life plan that allows for up to $10,000 in coverage for final expenses, medical bills and debt. However, benefits during the first two years of the modified plan are limited.

Stonebridge offers a variety of other products in addition to the term and whole policies. Accident and hospital coverage is available. Savings plans for prescriptions, health care, travel and roadside assistance are also available through Stonebridge. A Stonebridge Life Insurance representative can help you determine which services are applicable to you.

Available in 48 states and the District of Columbia, Banner Life receives high marks across the board from consumer rating agencies like A.M. Best and Standard and Poor’s. The company has the financial strength and stability to pay out claims. Even better is the fact that a recent poll of Banner policyholders revealed that more than 50 percent were extremely satisfied with their overall experience with the company.

The company specializes in low cost term life insurance policies. What is more, is that the company offers competitive rates for individuals with mild to moderate health issues that are considered to be an insurance risk. Terms of 10, 15, 20 and 30 years are available. They also offer a conversion option for no extra coats. Premiums can also be put on hold during times of disability if the policyholder selects this option when establishing their policy.

In addition to the term policies offered by Banner, policyholders can also select permanent lifelong protection. Naturally, these policies are more costly, but if you do not borrow against the policy and you pay the premiums on time your beneficiary can collect the full value of the policy when you pass away. At Banner this policy is called Life Choice UL, and it is a universal life insurance product. This plan allows for coverage up to age 100, or for a lesser duration as decided by the policyholder and the Banner Life Insurance representative.

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The first thing you as a consumer should know about Monumental Life, is that they get satisfactory ratings across the board. All the major insurance rating agencies give this company high marks; including Standard and Poor’s, Moody’s, AM Best and Fitch. Some of the things that make this company stand out to rating agencies is the companies financial stability, which means they can pay out claims; they also receive high marks customer satisfaction.

Monumental offers term life insurance to their customers in five, seven and 12 year increments. At the end of each term, the company guarantees that all the policies can be renewed at the end of the contracted term. However, they do restrict the issuing of term policies and renewals to individuals under the age of 55 on most of their policies. The Value Term 7 policy they offer is the only policy they issue after the age of 55, but it is only renewable up to age 80.

Monumental also offers both 15 and 30 year Mortgage Protection policies. Mortgage protection policies are designed to decrease the protection annually as the outstanding balance of your mortgage decreases. Designed to approximate the principal balance of your mortgage with a 10% interest rate, the premiums for the mortgage protection plans remain the same throughout the agreed upon term.

Monumental offers whole life insurance policies to their customers in three different variations. All three of the whole life insurance products that this company offers are available with values starting at $1,000. These policies can be issued to adults, or children. You can choose between two identical policies that pay out for life at age 65, or 95; the only difference being the number of years for payment of premiums. It should be noted these two policies are only issued people age 55 and younger. The third type of whole life insurance offered by Monumental is their Limited Pay Life plan which divides the payments over 10, 15, or 20 years. This type of whole life insurance can be issued to individuals between the ages of 0 and 80.

Universal life insurance coverage is also available through Monumental life. However, they call this type of coverage Interest Sensitive Whole Life Insurance. Two different products are offered; including the Dynamic 1 and the DynaMax. Both policies use current, or excess payments to enhance the cash value, or coverage of the plan. The Dynamic 1 policy is available in values up to $24,999 and the DynaMax is available for amount in excess if $25,000. Guaranteed death benefits, premiums and cash values are available with both plans.

Monumental also offers consumers a host of other life insurance products. These products aim to serve specific niches that otherwise go unaddressed within the industry. This would include the Flex 65 plan that serves individuals ages 18 to 55 and offers stable premiums, but decreased protection after the age of 65. Monumental Life Insurance also offers a Choice 12 policy that guarantees insurability for 12 years beyond the first contract amount.

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