There are various insurance plans that offer policies to sick individuals who are unable to get insurance anywhere else, although the premiums are high. Insurance companies generally hesitate to insure individuals with high mortality risks. The major kinds of insurance policies are term life insurance and permanent life insurance. A term life insurance policy provides death insurance for a specified duration. Whole life insurance and term life insurance are the two basic forms of insurance policies. A term life insurance policy is also called temporary or short-term life insurance.
People with short-term insurance needs, like a young individual with dependents, a house loan or a car loan, favor this kind of insurance policy because they are cheap and affordable in comparison to whole life policies. There are now two kinds of term life insurance, namely level term (decreasing premium) and annual renewable term (increasing premium) policies. Whole life insurance has an ingrained cash value and guaranteed life protection features.
The initial steep premiums of whole life insurance may exceed the actual cost of the insurance. If you are a single parent then it is all the more important to get a life insurance online quote at the earliest and buy the best and most suitable life insurance policy thereafter, Your life insurance amount is also decided by your economic and family situations. Remember all Life insurance companies that offer you a life insurance online quote require very specific information regarding your medical history. You will receive the life insurance online quote specific to your requirement. Life insurance companies have been selling term life insurance on line for a while now. Whole life insurance is now also available.