An Insurance Agent's Best Kept Secret: Term Life Insurance

Have you ever consulted a professional when making a big life decision or purchase -- only to be taken for a ride? I sure have and I bet you have, too. If you haven't, that's good for you and I hope it never happens to you. But if you're like me, you've bought that first big ticket item like a car or house only to realize that the professional who guided you to your decision was only in it for their gain.

This can happen to all of us with all sorts of important items that we need to purchase. We often depend on professionals to help us pick out that first car or to guide us with that first investment. We depend on professionals to explain the terms of a loan or mortgage agreement. And we trust that real estate agent to help us pick out our dream home and steer us away from a money pit. If you're lucky, someone will tell you about the "gotchas" you might encounter before you have to learn the hard way. Hopefully the professional you're counting on will tell you about the fine print. But don't be fooled . . . that "professional" might just keep his mouth shut.

Of all the daunting purchases we need to make, I've come to realize that insurance is no different. We need insurance, but we can be taken advantage of in a costly way if we don't acquire a policy that is right for us and our budget. Many people do without life insurance because of the cost. But, many times that's the case with whole life insurance. People aren't aware of a little known secret: term life insurance is often far more cost effective than whole life insurance. People do a great disservice to themselves when they bypass insurance simply because whole life seems too expensive. Term life is a great alternative.

Term life insurance lets you decide what type of policy fits your needs. You can choose terms anywhere from one to 30 years. And, you can have flexible and comfortable payment options and small payments as low as $8 a month. Do you need just enough to pay off your mortgage or do you need enough to keep your family afloat for many years to come? The choice is yours. You also have more freedom to choose the beneficiaries you desire.

Yeah, we all want to live forever. But, let's face it, we need to think long and hard about what can happen to our loved ones when we pass on. We love them and we want them to be taken care of after we pass on. We want to leave that protection as a gift to them. Besides, you want them to remember you after you're gone. They won't have time to reflect on you in a proper way if the mortgage comes crashing down on them with a foreclosure following closely behind. A term life policy can protect them against all of that.

Now, some people assert that the cons to a term life policy are poor benefits. And due to the lack of quality, whole life insurance comes out cheaper in the long run. Not quite true. Term life insurance has quality benefits. Less expensive isn't always a sign of poor quality. The fact is, term life is plain to understand and costs less. Maybe your agent doesn't want you to know that. That might be why they offered you a whole life policy instead.

See, a term life insurance policy of $200,000 can cost a "30 something" about 30 bucks a month. But, for that same fee, a whole life policy will only provide $30,000 of protection. That's a difference of $170,000 in your policy! Did the agent tell you that? This price difference comes from the fact that whole life insurance policies claim to build cash value by investing your premiums in the markets. Sure, you can "borrow" against any value the markets give your policy. But, what if the companies investments bomb? Can you afford to risk the future protection for your family in such a way?

While whole life insurance can be quite hard to acquire, term life insurance makes protecting your family a smart, affordable decision. You can't afford to neglect your family. So, take the time and do the homework. Get your ducks in a row. Find a policy that works for you. Sure, you shouldn't grab the first policy you see . . . but a well chosen term life policy will provide a great opportunity for you to protect your family. And when it comes to protecting your family, the only true professional will always be you.

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Now that you know insurance is too affordable to live without, it's time to start shopping around. Start searching the web today for online life insurance quotes. That's a great way to get started. Don't stay uninsured. Life insurance is too important and too easy to acquire. Protect your family today. They'll be happy you did!

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