To find cheap life insurance in Oregon, you need to know what kind of life insurance you need and then compare policies and prices to find the best deal.
In Oregon, you can choose between two main types of life insurance policies: Term Life and Whole Life (there are also Universal Life and Variable Universal Life, but these are basically variations on Whole Life Insurance).
Term life insurance will definitely have the lowest premium payment at first. Term life insurance is a simple, easy-to-understand type of insurance. The main thing about term life insurance is that it only covers you for a certain number of years.
If you die while the policy is still in effect (during the policy's term), the company will pay the agreed-upon death benefit to the person you named as the beneficiary. This is the easiest and most straightforward insurance policy you can buy, and at least at first, it's also the cheapest.
There are one or two things that some people don't like about term insurance. For one thing, the policy doesn't build up cash value over time like other types of life insurance do. The other big problem with term life insurance is that when the policy's term is up, you have to buy a new policy with a higher premium if you want to keep your coverage.
If you keep renewing the policy several times over the years, the premium rate can get quite high, which can cancel out any benefits you got in the beginning.
The premiums for whole life insurance, on the other hand, start out higher than those for term life insurance, but they stay the same for as long as you keep the policy in effect. Part of your whole life insurance premium goes into a cash account. Over time, this cash value can grow to be quite large, and you can even borrow against it at very low interest rates.
You can keep the cost of life insurance down in a number of ways. First, get a policy as soon as you can. Your premiums depend on your age and get more expensive as you get older.
Second, try to live in a healthy way. This means not smoking (people who smoke have to pay more for life insurance) and staying at a healthy weight.
Drive a smart car (people who drive sports cars and other high-performance vehicles pay higher rates).
Don't do extreme sports or work in dangerous jobs all the time. Putting your life in danger often will, of course, raise the price of your life insurance.
And finally, don't be late paying your bills. Many people don't know that your credit history can affect how much you pay for insurance.
Talk to an insurance agent or go online to compare many different life insurance plans until you find one that gives you and your family the coverage you need at a price you can pay for many years.
