Life Insurance. Most people don't like to think about it, but life insurance is a necessary evil for a responsible spouse or parent.
Do you need insurance on your life? Ask yourself the following questions to find out:
Could a loved one use a death benefit to pay off a mortgage or other debt? If you died, would your family need your death benefit to keep living the way they do now? Will your children be able to keep going to school if your death benefit isn't there? Is there a member of your family who has special needs and would suffer without your death benefit? Will your family need your death benefit to pay for your funeral and maybe even medical costs?
If you answered "yes" to any of those questions, you are a good candidate for life insurance.
There are two main types of life insurance in Oregon, as in the rest of the country: whole life and term life.
You buy whole life insurance once and keep it for the rest of your life. No matter how long you live, the amount you pay for a whole life policy will never change.
On the other hand, a term life insurance policy is only good for a set number of years. When the policy's term is over, you'll have to buy a new one at a higher premium based on how old you are at that time.
So, what is the best kind of policy? That will depend on a lot of different things. For someone who doesn't have a lot of money, a term life insurance policy may seem like a better choice because the premium is cheaper than a whole life policy, at least at first.
But when the term life policy is up, you'll have to buy a new one at a higher rate, which could be much higher than the flat rate you would still be paying if you had bought a whole life policy from the start.
So, how can a family in Oregon buy life insurance? There are a few things you can do to save money and get a discount on your Oregon life insurance.
First, don't smoke. Life insurance costs a lot more for smokers than for nonsmokers. Also, you can't have a history of abusing drugs or alcohol, and you can't do dangerous things like extreme sports every day.
Second, get insurance as soon as you can. Your premiums will be lower if you buy your first policy when you are younger, and if you buy a whole life policy when you are young, your low premium will never go up.
Even how well you drive can change how much you pay for life insurance. Some life insurance companies will charge you more if you have even one traffic ticket in the last three years. Some people forget about one or even two mistakes.
Here, it pays to compare prices. Find a site online where you can fill out a simple form and then compare rates from different companies. You can be sure that you will not only save money, but also find the best discount life insurance in Oregon that fits your family's needs and your budget.
