According to recent survey by Life Insurance Market Research Association, an insurance industry think-tank and research group, 30 percent of U.S. households don’t have coverage, compared with 22 percent just six years ago. Even more alarming is that among the households that don’t have coverage, 11 million are families with children under the age of 18.

“Despite today’s economic challenges, it is important that families think about the fact that forgoing life insurance can be a dangerous decision,” said Mark Lublin of Life Insurance 2.0. “Life insurance can bring much-needed peace of mind.”

Many surveyed by LIMRA said they felt that the life insurance coverage offered through their employer is enough to meet their needs. Yet in the past year, someone became unemployed in 15 percent of all U.S. households.

There are several reasons for the upswing in the number of people living without life insurance. However, LIMRA found that the drop in life insurance ownership is not because families feel safe. Among households with children under 18, four in 10 say they would have immediate trouble meeting everyday living expenses if the primary breadwinner died today.

Obviously, the economy and stricter household budgets have contributed to their risky decisions to forgo life insurance. These consumers may not be aware that life insurance products are cheaper than ever.

The cost of term life policies, which provide coverage for a specific period, have dropped because people are living longer and insurers are using technology to lower their administrative costs.

A new poll of 30 leading life insurance companies conducted by Life Quotes, Inc., has found that life insurance rates remain at all-time lows.

“With life insurance rates at such favorable levels, now is actually a great time to purchase a policy,” Lublin said.

Lesley Reuben writes for Life Insurance 2.0. To learn more or to compare
life insurance quotes, compare term life insurance, or get an instant life
insurance quote, visit http://www.lifeinsurance20.com

Choosing to buy life insurance while you are young, healthy and strong may seem silly to some, but it is important to note that younger people receive lower rates from insurance providers than older people. Why not pay for life insurance while you are financially secure and are able to receive a more favorable rate on a premium?

One of the options a young person might want to consider is term life insurance. Term life insurance gives coverage to a person at a fixed rate of payments over a specific period of time – or term – usually anywhere from 10 to 30 years. The rates vary depending on the age of the individual who is insured.

If the insured individual passes away during the coverage period, the beneficiaries get a cash payout. If the policyholder lives longer than that time period, however, they can renew at a higher rate or convert the policy into a permanent life insurance policy, sometimes without getting a new medical exam.

Because of their affordability, term life insurance plans are popular with younger people.

Even if you are just graduating from college, it may be a good time to consider a life insurance policy. If you are just starting a family or are thinking of doing so soon, it is important to consider who will take care of your loved ones should some unforeseen illness or accident impact you. How will they be provided for? A life insurance policy can bring peace of mind.

And even if you are not considering having a family yet and are still single, you still have others who depend on you. If something unexpected were to happen to you, your death would have a heavy financial effect on your family members. Life insurance could help to reduce this impact.

Also, as a young adult you likely have accumulated student loans that would need to be paid off after your death. A co-signor is legally responsible for the debt even if you pass on.

When we think of life insurance policies, we usually think we should wait until we are older to consider such an option. Yet the truth is that it is never too early to plan for the future and the unforeseen. The younger and healthier you are, the more attractive the life insurance rates.

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Purchasing a life insurance policy is not something one should do quickly without considering all of the options. Those who are interested in purchasing policies need to take time and review their needs as well as the needs of their family members. Oftentimes, many people prefer not to think about life insurance at all, as it forces them to consider an unpleasant subject. They only do so when they have had a recent brush with death. Waiting to buy life insurance until a critical moment can be costly for families, and individuals should consider buying a life insurance policy as soon as possible. Doing so will help secure their families continued survival and prosperity.

Life insurance policies should not be static documents; instead, these documents should change as the needs of one’s life changes. As such, life insurance policies should be reviewed at least once a year, so that they will accurately reflect the policyholder’s needs. In order to properly assess their needs, individuals should consider the following questions when reviewing their policies:
Should life insurance be purchased to pay for funeral expenses or should funeral expenses be paid from accumulated cash? Funeral expenses can often run in the thousands and not all families may be able to pay these sums out-of-pocket. A life insurance policy could help families cover these expenses and alleviate the financial burdens associated with one’s passing.

Should a policy be taken out to cover estate taxes? Although the estate tax has been repealed for 2010, this is likely to change in 2011 if Congress takes no further action. As such, the estate tax in 2011 could be costly for some families, and they may require a life insurance policy to help cover their estate taxes.

Should insurance be purchased to leave a lump sum for family members? If so, how much should be left? While some beneficiaries may be able to handle large sums of money, others may find doing so difficult and may need to have the life insurance distributed as income. If the policyholder chooses to provide income, should this income be for the beneficiary’s lifetime or should it be for a set number of years?

Having insufficient life insurance can have devastating effects on a family. Asking these questions when reviewing one’s life insurance policy or when purchasing a new one will help individuals decide what kind and how much coverage is right for them.

To learn more or to compare life insurance quotes, compare term life insurance, or get an instant life insurance quote or term life insurance quote visit Lifeinsurance2o.com.

In what is considered to be a very innovative move, Life Insurance 2.0 has hit the Internet with a very different way to do the business of buying life insurance. “We have taken the concept of buying life insurance as being a pain and turned it into something very creative and interactive,” said Mark Lublin, President of Life Insurance 2.0. Lublin isn’t kidding. The Life Insurance 2.0 website is one of the first to offer consumers “everything from soup to nuts,” and then some.

Life Insurance 2.0 not only offers convenience, but also the ability for people to compare life insurance companies, financial ratings, products and pricing for virtually all life insurance companies in one location on the site. “The site is comprehensive and robust offering complete transparency, plus offering all the quotes anyone could need all in one location,” added Lublin. This is something the Internet has never seen before – a complete quoting engine that offers quotes for virtually all insurance companies in the marketplace. Lublin acts as the broker for online life insurance. Think about that for a minute –quotes from virtually all insurance companies online. “There won’t be anything missed when a customer wants to buy life insurance on the Life Insurance 2.0 site,” Lublin pointed out.

There is no sales pitch to be seen on this site, no pushy insurance salesmen and no biased recommendations. What visitors to Life Insurance 2.0 see online is what a consumer gets in the final analysis – simple, straightforward, honest, complete and clear quotes for every company. This is a new way to purchase life insurance, and one that allows people to make a truly informed decision about what type of life insurance will suit them.

“People still have the option to talk with the broker; we actually recommend having that brief conversation to be sure all bases are covered,” said Lublin, “People can call in or e-mail at anytime and a licensed representative will be available to discuss any questions or issues they may have about the various options they are considering.”

“On Life Insurance 2.0 people can even find the financial ratings of an insurance company, something that indicates the stability of the company and their ability to pay out on a claim. Only deal with highly rated and stable insurance companies,” commented Lublin.

The days of working with the typical life insurance salesman are coming to an end. Life Insurance 2.0 offers expert level service and support online, and is run by a knowledgeable and experienced broker who understands companies, products, pricing and the marketplace he represents. “Our website is pro-consumer and offers complete services for the intelligent buyer. Our list of products is comprehensive and people don’t just “shop” onsite, they actually have the ability to “buy” online as well,” explained Mark Lublin, President of Life Insurance 2.0.

To learn more or to compare life insurance quotes, compare term life insurance, or get an instant life insurance quote or term life insurance quote visit Lifeinsurance2o.com.

It’s not hard to find the ratings of a life insurance company; just look them up on the Internet. “Ratings will give an indication of the company’s ability to pay claims in the event of an actual loss. Those ratings reveal the financial viability of the company and give you a good idea of how reliable the company would be during any transactions” said Mark Lublin, President of Life Insurance 2.0.

There are three main rating agencies that provide insurance company ratings; they include A.M. Best, Moody’s and Standard and Poor’s. Ratings are not a difficult system to figure out, as they use letter grades to reflect the financial strength and stability of the insurance companies. “Put another way, having a rating of at least an A would be considered a good grade, and so on down the line,” added Lublin.

It should go without saying that when trying to select an insurance company, only stick with companies that have “A” ratings. In most instances those are the companies that have demonstrated stability over the years. Choosing one rated “A” means the confidence of knowing they will pay out on any claims made in the future.

Checking ratings isn’t the only way to take the pulse of an insurance company. There are other methods of checking a company’s strength as well. Hit the Internet and locate all the public information on the web. Granted much of this may be supplied by the company and may not have what you want to know, but it’s a place to start.

Another method to find out about the company is to ask an insurance broker about their reliability. “This word of mouth method is often even more valuable than anything found online, as it gives you real life anecdotes. In addition, don’t be shy about contacting the company directly and ask them about their financial situation,” indicated Lublin.

While that might sound like a completely silly thing to do, consider this: if no one in customer service or any other employee wants to talk about how the company is doing financially, consider this to be a red flag and make decisions accordingly.

Once all the information has been gathered about a variety of insurance companies, say three to start with, it’s time to make choices. “A life insurance policy is a major life decision and a significant investment, so choose wisely after all the facts are in and analyzed,” recommended Lublin, President of Life Insurance 2.0.

To learn more or to compare life insurance quotes, compare term life insurance, or get an instant life insurance quote or term life insurance quote visit Lifeinsurance2o.com.

For those who realize, it’s the responsible thing to do. Having life insurance in place to protect loved ones and your business is the foundation of any financial plan. Take a moment to review your “human life value” and protect your life. This isn’t meant to be a depressing reflection, but you really do need to know that if something happens to you, that your family won’t be left high and dry.

This is a tough decision to make during a recession, let alone a financial crisis, because people are tightening up their finances and trying to make do with less. The last thing many people want to spend money on is life insurance. It just adds to your expenses and you wonder if you can really do without it for now, and perhaps renew in the future when things pick up economically.

The fact of the matter is that life insurance policies don’t need to be expensive and yes, you can actually get a policy with great benefits and coverage for a very affordable rate. The key to getting what you want and can afford is to speak to a life insurance broker that values the customer and provides expert service.

When you search online for an independent life insurance broker, look for one who knows the true reality of life and pulls no punches when it comes to telling you the complete unvarnished truth about shopping for and buying life insurance policies. In other words, a person who will tell you like it is, not tell you what you want to hear. That’s important when it comes to making a complex decision like what type of life insurance will work best for you.

When you shop online for quotes, make sure you find a site that provides multiple quotes and shows you everything you need to know to decide about various policies. Once you have rates, compare them to other companies. Make a list of questions you want answered and then once you have found a comprehensive site that offers sterling service, make that phone call to the expert broker and discuss your questions and concerns.

Make sure the site you choose is reputable, legitimate and above all else credible. Look at their content, their testimonials and how the site is laid out. Find out how many companies they deal with, as this will give you an idea of just what kind of a deal they can give you. The more companies they represent, the better chance you have of getting a life insurance policy that fits you like a glove.

To learn more or to compare life insurance quotes, compare term life insurance, or get an instant life insurance quote or term life insurance quote visit Lifeinsurance2o.com.

Been there, done that? Wondering what all the jargon on your life insurance policy actually means? Welcome to the wonderful world of shopping for and buying life insurance. It isn’t the easiest stuff to deal with, but if you take the time to find the right independent insurance broker, you will ultimately wind up the winner.

Let’s take Guaranteed Level Term Life Insurance. What the heck does that stand for and why should I care?When referring to level term life insurance, it mainly means the way a premium is guaranteed and set up for term life insurance. Now there’s another new word – term insurance. Term Life Insurance only gives you coverage for a defined period of time which is called a term.

Basically when your “term” comes to an end, your policy’s guaranteed premium ends as well. You should be aware that there is no cash value accrued inside of this type of policy; in other words what you are buying is pure coverage. Of course there are things that need to be explained in further detail, particularly after you have made an informed decision as to what policy will work for you.

If you have chosen Guaranteed Level Term Life Insurance, make sure to ask your independent broker all the questions you possibly can in order to thoroughly understand what your policy does for you and its terms. Before you do that though, browse top-notch online insurance websites for the best and simplest explanations.

Buying life insurance doesn’t have to be complicated and in fact, if the insurance broker is making it difficult to understand, then don’t walk away, run. You need simplicity and an explanation you can identify with when dealing with life insurance policies and their contents. You also need objective, straightforward and trustworthy answers on what your premium will be.

Typically, the premium paid for life insurance policies relates to the type and amount of coverage, and the premium goes up as you get older. However, with a Guaranteed Level Term Life Insurance policy, you pay the same amount every year, not a bad deal considering that all other types of insurance coverage premiums increase yearly. Knowing you will be paying the same amount every year is a security blanket and gives you piece of mind that your rates won’t change unexpectedly.

Level term life insurance policies are fairly popular because of the fact you pay the same thing every year. It’s a real benefit to know that you won’t get a bill in the mail for an increased premium and there you are, unable to afford the payments.

Here is another thing that many policyholders really appreciate: the guaranteed renewable feature that lets you know your policy automatically renews yearly even after the initial term expires. Will your premium rate go up if the policy expires? Most likely it will, but ask your expert insurance broker to find out.
If you aren’t sure that level term insurance is for you then ask yourself if you prefer not having to worry about premiums getting hiked up every year. This, of course, lets you plan ahead. If that’s what you like, the security of knowing what you will be paying at all times, this is the life insurance for you.

To learn more or to compare life insurance quotes, compare term life insurance, or get an instant life insurance quote or term life insurance quote visit Lifeinsurance2o.com.