Finding affordable insurance for your home, health, life or auto just because a whole lot easier in the Buckeye State.
corners
Child on fathers shoulders next to mother in wheat field
cornerscorners

Life Insurance Options

Life insurance serves as financial protection for those left behind after life's final hand has been dealt out to a loved one. Whether you choose a term or a whole life insurance policy from a reputable provider, the ultimate aim of a plan is to pay a death benefit - or sum of money - to your beneficiaries when the time comes.

The primary types of policies are the term (temporary) and the whole (permanent) life policy. Both come with their distinct advantages and disadvantages and choosing the right one from Ohio insurance quotes depends on a variety of personal factors in your own circle and your own method of handling your money and finances.

Term Offerings

The primary advantage of a temporary plan is the lower cost compared to a permanent counterpart - especially if you are younger when you sign up for the policy. The older you get when signing up for term coverage, the more expensive a policy will be, which highlights a temporary policy's primary weakness as well: If you are a senior adult, a temporary offering is going to be fairly expensive compared both to what you could have paid on a permanent plan had you started earlier on.

Your Ohio insurance quotes for term coverage will be for a policy that can last anywhere from 1 to 30 years and the price will vary depending on many factors including your age, your profession, your marital status and where in the country you live. Once your policy expires, it will have to be renewed (usually at a higher premium) in order to continue coverage.

The Permanent Alternative

Ohio insurance quotes also provides quotes for permanent policies which differ from the aforementioned ones because they are designed to last as long as you live rather than just for a specified term of 1 to 30 years. This type of offering is initially going to be more expensive than a term counterpart because it builds up a cash account in addition to paying for the insurance itself. The fact that your premiums will not increase as you age, however, is a substantial boon the older you get, where term insurance policies can expire, leaving you to have to renew it at higher and higher prices each time.

The cash value account of a policy can be used by you in the future to help pay the premiums for the account or to make personal loans to yourself if your financial situation ever warrants it. If you do take out a loan from an account and happen to die, the amount of the loan will be reduced from the beneficiary payment amount.

corners