Contribute to an emergency fund
Even if you are debt-free, it’s wise to have money set aside for emergencies that may occur in the future—those that require far more funds than you may have in your rainy day savings account. These emergencies might include unexpected medical costs not covered by health insurance or legal fees. If you were to pass away, your family will still need a financial cushion in case life sends another challenge their way, such as a serious illness. If you do not have term life insurance or are underinsured, then your family may have to pay for these costs out of pocket.
Average term life insurance quotes for a policy with $100,000 of coverage for men and women are shown in the tables below. Check your price now.
Cover final expenses
Funeral and burial costs don’t make for cheerful conversation, but they can have a significant impact on your family’s finances. The average cost of a funeral is about $7,000, but many families spend more than $10,000 for the funeral, burial, and associated costs. Those fees, when combined with other expenses associated with a loved one’s passing (such as legal costs and medical bills) can add to the family’s financial burden at a trying time. Purchasing a term life insurance policy to cover end-of-life expenses allows you to protect your loved ones from costs that may cause financial stress.
Quotacy offers an affordable final expense insurance product that is a small permanent life insurance policy that will provide coverage for funeral and burial costs throughout your life. If you are age 50 to 80, you can be insured today without a medical exam.
Term life insurance quotes for growing families
Term life insurance is the best option for most families. Here are a few reasons why:
Term life insurance quotes are highly affordable. They are a fraction of the cost of whole life insurance and provide excellent coverage for terms of 5,10,15, 20, 25, 30, or 35 years.
A term life insurance plan offers families great flexibility. Term life insurance quotes are affordable enough that they can be laddered (or purchased in multiples with different coverage term lengths) to provide just the right amount of coverage for different points in a family’s life.
Term life policies offer important added benefits. Term life insurance plans often include riders (or options for additional services) that provide funds from the face value of your policy to your family should you become terminally ill or disabled.
A term life plan offers protection tailored to the needs of your family as they change over time. There is no one-size-fits-all financial plan or life insurance policy. Our agents can help you get a policy that is a custom fit.
Find the right term life insurance quotes in minutes for your family
One of your biggest priorities in family planning is making sure that you’ve made the most of your financial resources to get the best value for your family at every turn. Term life insurance goes hand-in-hand with a solid long-term financial plan. Answering the following questions will help you focus your financial strategy and pick the right amount of coverage for your growing family’s needs.
What are our current financial needs?
- How much do we spend monthly on mortgage or rent?
- How much are our other monthly household expenses (food, transportation, utilities, other bills)? How might these change with our new addition(s) to our family?
- How much debt do we owe?
- What are our monthly savings goals?
What are our long-term financial plans?
- Do we plan to buy a house?
- Will we launch a business?
- Do we plan to care for an elderly relative?
- Will we contribute to our children’s college costs?
- Will we contribute to funds for retirement?
- Do we have any major expenses or upgrades (new car, house renovation) planned?
Don’t worry. You don’t have to have all—or even most—of the answers now. The idea is to just start thinking in terms of ballpark figures of your current financial requirements. You’ll want to have an idea of how much your family will need to maintain their current standard of living and achieve your financial goals. Learn more about financial planning for families.
An easy way to get an idea of how much coverage you should buy to protect your new family is to use the slider on our life insurance needs analysis page. You’ll be able to see how much insurance you’ll need to replace lost income and pay off debt for your family, along with a range of term life insurance quotes in just a few seconds (you don’t have to fill out any forms).
Even if you don’t have the foggiest idea about your 10-year financial plan, you can still get coverage for your needs today. Here’s how to get your quotes in minutes:
First, click over to our free life insurance needs calculator. You’ll enter a few details about yourself—your age, gender, zip code, and smoking status (you don’t need to provide your name or contact info)—and then click “Show My Price” to see a range of monthly term life insurance quotes for coverage amounts that adjust with a slider. That’s it!
» Calculate: Life insurance needs calculator
If you want a customized quote, click “Compare Policies” to answer a few quick questions (still anonymously) about your height, build, and general health. Click through to get a range of customized quotes from leading insurers. See a quote you like? Click “Choose” and you can complete your application online in less than five minutes.
At Quotacy, we’re dedicated to helping families get the protection that they need at rates they can afford. We’ve helped thousands protect their families with billions in coverage, going to bat for them to find the best term life insurance plans available from America’s most trusted names. Get the right term life insurance quotes for your family’s financial strategy today at Quotacy.