Reader’s Question:

I’ve tried to compare life insurance quotes and I still can’t find the cheapest life insurance because there are just plenty of variations I find. Will I ever find the cheapest life insurance here in Atlanta, Georgia?

David

Atlanta, GA

Hello David.

It’s true that there are plenty of life insurance products out there; coming from different insurance companies. However, to lower down your search for the cheapest life insurance, you can start with two of the major life insurance categories: Temporary Life Insurance and Permanent Life Insurance.

The temporary life insurance has only one product which is term life insurance. Term Life Insurance is purely life insurance coverage where your beneficiary will get the insurance when you die within the term. In term life insurance, you have to consider the amount your beneficiary will get when you die (face amount), the premiums you have to pay (price of the policy) and the period of the policy (term). Term life insurance is actually the cheapest life insurance so far. If price is really your concern, you can search which among the insurance companies in Atlanta, Georgia offer the cheapest term life insurance.

The permanent life insurance on the other hand, has different variations. This includes the whole life insurance, the universal life insurance and the variable life insurance. Generally, the permanent life insurance is not purely life coverage. It carries with it an investment side and is based on cash value. This means that you’ll be paying not for your beneficiary alone but also as investment where the premiums you pay accumulates to a certain degree over a period of time. The different permanent life insurance products have variations with regards to the investment side. To get the most of your search for permanent life insurance, you need to settle on what product you choose and compare which among the different insurance companies offer the cheapest specific permanent life insurance product. This way, your search for the cheapest life insurance will be narrowed down and will not be confusing.

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