Tony Brewer

Over the past several months Teri and I have been discussing purchasing more life insurance.  This was inspired by the unexpected passing of one of Teri’s friend’s who left his family completely without any kind of financial security.  He kept saying that he didn’t need insurance because he was never going to die!  Well, he didn’t look like an ostrich, but he sure was acting like one!

One of the things that have worried us is how, in this economy, can one justify spending the money on something like that?  Well, Teri says, how can we NOT justify spending the money on it?  She thinks that we should be looking at term insurance, not whole life.  She was using an online life insurance needs estimator to get online term insurance quotes for the both of us.

The whole concept of term insurance is that it pays if you pass away during the “productive” years of your life, when your family needs your income the most.  Since it is only for a short period of time, say for ten or twenty years, the premiums stay low.  With whole life, the payoff happens no matter what your age, no matter how productive you were.  Although it is nice to think of leaving a lot of money for your loved ones, hopefully if you die of old age, your loved ones shouldn’t need a lot of money because hopefully they are self-sufficient at that point.  I told Teri to try and find some Online affordable term life insurance and we’ll take a look at it, and see if we can fit it into our budget.  I think it’s a good idea.

http://www.mytermbroker.com/life-insurance-needs-estimator

Link Text: online life insurance needs estimator