Cheap life insurance is what I want.  If that is what you want, this is a great time to get term life insurance.   With more companies than ever competing for your business and life expectancy increasing, the rates are at all time lows.  Obviously, some companies have had to adjust rates up  to deal with losses with the economic turbulence that we have experienced over the last couple of years.

Everybody has their idea of what cheap is, but term life allows you to buy a lot of death benefit with little money.   The variable here can be health.   If you are relatively healthy, the premiums will be more affordable than if you are unhealthy.

We will find out the amount that the client would like to shop and then we run an analysis with the major carriers.  In a matter of seconds the carriers rates will appear for comparison.    For a healthy male, non smoker, age 35 his two best rates for 1 million of 20 year term would be, Banner Life at $39.81 per month and ING at $40.95 per month.    That is pretty darn inexpensive for 1 million of coverage.   Another consideration is to look at the return of premium option.  While it is appealing to get the cheapest term, it may be a good option to get all your premiums back if you live through the term.   For that same 35 year old, he would be looking at a best rate of 117.03 with Assurity with return of premium.  Chances are he will live through the 20 year term and then have no coverage.  He might as well get all the premiums paid in to the policy, back.

When you buy life insurance it is very important to check the financial strength rating for the company.  It is often attractive to gravitate to the least expensive option for your life insurance.  I completely understand that and that is an important component, especially if you are buying term life.  The reason it is important to check the company’s rating is to make sure they will be able to pay a claim if it happened to arise.   With that being said there are a lot of very good company’s that also offer very inexpensive term insurance.   One good example is http://www.ING-usa.com which always has very competive rates and currently holds an A+ rating from AM Best for financial strength.

You should look for a minimum of an A rating when selecting a life insurance company.   The rating services that matter are AM Best, Fitch’s, Moody’s, and Standard and Poor’s.   AM best has ratings that range from A++ to an F based upon the company’s financial strength and ability to pay claims.   Fitch’s assigns ratings from AAA to D, based on the company’s financial strength.  Moody’s goes from Aaa to C based on a company’s financial security and Standard and Poor’s goes from AAA to CC.   Ask your insurance consultant for financial ratings on the company’s that you are looking at to secure your family’s future.  A lot of company’s have recently seen a downgrade in their rating, based on the fact that they were heavily invested in sub-prime, etc.  Make sure you get the most recent rating and consider quality while you consider the price tag.

How will a Paramount Life Insurance Consulant work for you?

• It is very important that we ask all of the pertinent questions?  We can simply break this down into three parts:

1.  Your current situation is different from your friends and family

2.  What are your goals?  (Secure retirement)  Build Income TAX FREE.

3.  The more your consultant (agent) knows, the better your outcome will be. 

Get you know your Life Insurance consultant.  Be sure you mesh with your financial advisors.  This will insure that you have a great outcome for all of your insurance needs.  Start planning your future today.  ING is offering great rates on 20 year Term Life Insurance here:  http://www.ing-usa.com/us/index.htm.