Life insurance protects you and your family from economic hardship as a result of death. It is an insurance company’s obligation to pay the recipient of your choice a pre-determined amount of money when you die in exchange for timely payment of premiums while you are living.

Do you really need life insurance? Well do you want to provide for your family and loved ones in a manner to which they have become accustomed in the untimely event of your death? If you are the primary breadwinner who will pay the mortgage on the house your spouse and children live in if you pass? Who will provide financially for your family if you are gone? How will your children’s education be financed in your absence? And finally how will your burial expenses be covered?

Now that you have decided you do indeed need life insurance, how much do you need and if you already have life insurance do you have enough? Some things you will need to consider when making this decision:

How much can your family afford to pay off your mortgage loan or your rent if you die?

How much debt will you leave behind to include credit card balances, car loans, student loans, personal loans etc.?

How much annual income will your death remove from your household?

How much will the funeral you desire cost?

Do you want to leave behind a charity fund in your name?

Do you have special family members you would like to leave a financial gift behind for?

How much will your spouse need to care for a family member with special needs?

How much do you want to leave behind for your children’s education expenses?

Once you calculate how much money you want to leave behind consider how much you currently have in terms of individual or group life insurance along with your other assets such as savings accounts, CDs, mutual funds, stocks, bonds, 401K, retirement plans or pension plans and subtract that amount to decide how much life insurance you currently need to purchase.

Timothy Gorman is a successful Webmaster and publisher of Best-Free-Insurance-Quotes.com. He provides more insurance information and offers free money saving auto, home, health and life insurance quotes that you can research in your pajamas on his website.

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If you’re wondering how to apply for health insurance, be aware that application is the second step of the process — after you’ve researched different policies and compared prices and benefits. Whether you apply online or off will depend on your comfort level with the computer, and also whether you’re applying via a group plan.

Before you sit down to fill out an application, you should gather information you will likely need when filling out an application. The names and addresses of doctors for yourself and your family members, the dates of the most recent visits, and information about your most recent insurance policy,

Through Your Employer

If you’re enrolling in a health insurance plan through your employer, you probably won’t need a medical examination, but you may have to wait for the company’s next enrollment period before you can apply. However, if you’re a new hire, you likely can apply immediately. The application process for enrolling in a group plan is quite simple, because most plans will enroll everybody, regardless of pre-existing conditions and current state of health.

Just fill out an enrollment form, which includes personal information like: name, address, social security number, designation of the primary insured and all dependents (including the names, ages, dates of birth and social security numbers for all dependents), employment information including date of hire, and the type of health insurance coverage you select. You’ll probably have to provide information about your prior health insurance coverage, including the insurance company name and policy number.

The completed application goes back to the benefits coordinator, who will process your form, and you’re finished.

On Your Own

If you’re not applying for group coverage, the steps are similar, except you’ll be handling all the paper work yourself. Some insurance companies will send an insurance agent to discuss the application process with you. In these cases, the agent will often work with you to gather the necessary documentation, coordinate an in-home medical examination, and collect your pre-payment check.

The whole process is so simple that some people decide to apply for health insurance online. To do so, just visit the health insurance company’s web site where you’ll find an online application form. You’ll have to provide the same type of personal and employment information as above, and you’ll just enter it onto an online application form. When you’re finished, click the submit button and the system takes over.

Applying for health insurance online really is painless, reliable and fast. However, if you are not comfortable providing that amount of personal information over the internet, it’s probably a good idea to apply for health insurance offline.

Either way, don’t wait until you need it. Because then it might be too late.

Ron King is a full-time researcher, writer, and web developer. Visit healthinsuring to learn more about this subject.

Copyright 2005 Ron King. This article may be reprinted only if the resource box is left intact.

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Despite the many other expenses you have, you’ve decided to purchase life
insurance. You’ve looked at several different life insurance companies, as well
as your family needs and budget, and concluded that purchasing a term life
insurance policy is the best option for you. However, you want get a cheap term
life insurance policy, as well. Cheap life insurance? Is that even possible.

Yes. Admittedly, you might not find cheap term life insurance immediately, but
it’s actually not as difficult as it sounds, so don’t get discouraged! In order
to get a cheap term life insurance policy, all you have to do is figure out how
much term life insurance coverage you need. You should take into consideration
how much annual household income your family has, how you may need to use the
term life insurance aside from death benefits (for example, you may need to use
the term life insurance as income in the event of job loss), upcoming expenses
such as college tuition, etc.

When you look for a cheap term life insurance policy, remember that there are
many different life insurance companies out there that offer term life
insurance, and because of the number of companies, competition tends to be
stiff. In order to increase your chances of finding cheap term life insurance,
don’t limit your search to just one or two life insurance companies.

Many life insurance companies provide term life insurance calculators or similar
tools to help you determine how much term life insurance coverage you need by
looking at factors such as your income and age. Look for these kinds of term
life insurance calculators the next time you are browsing online for the best
term life insurance policy for you and your family, or ask your term life
insurance agent about them, or similar tools, the next time you have an
appointment to talk with your agent about purchasing cheap term life insurance.

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