This post is in support of the Life Insurance Movement.

Life insurance is a very important matter to consider but also one that most people do not like to think about.  No one likes to be reminded of their mortality but any responsible adult should consider how our loved ones will be taken care of in case of a fatal or even just a debilitating accident.

The most common form of life insurance is term life insurance.  You will see thousands of companies offering this form of insurance online.  For example if you live in Chicago you can type in ‘Term Life Insurance Quote Illinois’ and you will be able to find local companies who offer this type of insurance.  Guaranteed life insurance is slightly harder to find but is available to people who cannot pass the health screening that is required for normal term life insurance.

Guaranteed life insurance is available to anyone who is not already living in a hospital or long term care facility.  Insurance rates are based on your age and sex instead of health records.  Because of the increased risk of these types of insurance, guaranteed life insurance is more expensive than normal term life insurance.  The benefit of having this type of insurance is that anyone can apply and be accepted.  The process is also significantly shorter than for regular insurance process.  Since there are no background checks for guaranteed life insurance, insurance can be purchased in matter of minutes rather than the normal 4-6 weeks.

Guaranteed life insurance is not the same thing as permanent life insurance.  Permanent life insurance covers the lifetime of the subscriber as long as the premiums are paid.  This takes away the worries of developing some serious illness which would then prevent the policy holder from renewing their plan.  Permanent life insurance can be cheaper in some situations then guaranteed life insurance because you still have to pass the screening when you first start your policy.  Guaranteed life insurance is generally only a last resort for people who cannot qualify for any other forms of life insurance.

 

 

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