Low Cost Term Life Insurance

Heavenly | Oct 12, 2010 |

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We are in a depressive time, thanks to the paper money system that allows central banks to print as much paper money as they want, creating an endless money supply that leads to national debt and inflation. The never-ending paper money supply erodes our real buying power and rewards debt-fueled mal-investments by businessmen who never earned the capital to invest.

In a time such as this, we still need life insurance to protect our income. If the breadwinner passes away, his family will be able to move on with income from insurers. According to a study, about a third of U.S. households have no coverage, but half of all households feel they need more insurance. Why? Because most people don't know that life insurance can be affordable. Traditionally, the popular view is that life insurance is expensive. It wasn't supposed to be like that.

The purpose of life insurance is to insure the income of an income earner. As long as someone is depending on the earner's income, the life insurance will serve the purpose of protecting them from a financial catastrophe if the earner passes away. What is the chance of death for an income earner? It's rare. People don't usually die before retirement, so the actual cost of insurance is quite cheap.

However, most families that own life insurance plans pay a small fortune each month for their policies. Why is that? Because most life insurance products are designed to keep the customers' business for as long as possible. The insurance companies want to make a lifelong profit from each customer, so they promote the permanent life insurance products with large budgets. Most agents won't recommend term life insurance. They will say its payout rate is low, that it will get expensive when you get older, and that it has no flexibility.

The flexibility is an illusion. I could give you a ton of plans that are not the best option. They can give you as many choices as they want, as long as they can distract you from the real product that you need-- term life insurance.

You don't need life insurance for your entire life. By the time you get old, the proceeds from life insurance will be worth much less than in today's money, because of inflation.

You can buy the cheapest term life insurance online. You don't need a salesperson to make this decision. You need information and to come up with a strategy that suits you. Insurance agents are trained to believe in permanent life insurance, even though many of them have bought term insurance for themselves. When you go online, you will be able to compare prices from all major life insurance providers, and make the decision quickly. Try to get a 30 year term life insurance, and invest your money whenever possible during this period, then you will be able to accumulate enough money for retirement by the time the term runs out.