Instant Term Life Insurance Quote

You can get an instant term life insurance quote. If you think about it the internet has pushed the life insurance business way into the future. You don't have to listen to the ramblings of a life insurance agent if you don't want to. There is one thing you have to do though and that is to decide what type of term life insurance you want to buy, how much you want and how much you want to spend on this policy. You can go from there and get an instant term life insurance quote then buy your policy.If your plan is to get an instant term life insurance quote for the protection of your income for your family in the event of your death you need to decide how much income they will need. 

Let us assume you take home $4000 per month after taxes and the varying deductions. You are married and have one child 3 years old. There is no reason to believe that your family will not need the entire $4000 per month even if your spouse earns an income. $4000 per month is $48,000 per year. If you own $1,000,000 of term life insurance that money invested at 5% after your death will yield $50,000 per year and the principal will stay in tact. You may be able to safely do better than that but I think you see what I am driving at. Get an instant term life insurance quote on that amount. If the premium is too much for you at this this time reduce it according to what you can afford.

What type of insurance should you buy? For a family situation the 20 years term policyis usually a good policy to use. It has a level death benefit as well as a level premium. It is fairly inexpensive. If you need something a little cheaper start off with the 10 years term Remember that 10 years is not a very long period of time and you may need to convert to a permanent policy sometime in the future to guarantee the continuation of your coverage after the 10 year period.  If you are requesting an instant term life insurance quote for key employee insurance the 20 year term policy is also good for that situation. 

As to the amount...a good rule of thumb is to insure the employee for 5 years of his or her salary. If s/he is being paid $100,000 per year then you will need $500,000 to offset the loss your business may suffer while you find an appropriate replacementYou can also use the 20 year term policy, or may be the 30 years life insurance policy to fund your buy-sell agreement in the event of the death ofpartener or stockholders  The amount will depend on the going concern value of the company and the of stock or shares owned. The amount of insurance would be the dollar value of each shareholders stock taking into consideration projected growth over the next 5 years