Secure the Right Plan and Save Money
In 2020, LIMRA reported that roughly 41 million U.S. consumers went without a life policy, even though they needed it. Going without coverage can make you feel stressed and anxious, but Billy makes finding coverage and peace of mind easier and more affordable. Gather quotes from reputable providers in your area and compare costs to find the ideal match. Once you find a provider that meets your needs, Billy helps you understand your policy, so you can maximize your coverage.
Term vs. Whole Life Insurance
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While exploring your options for life insurance, you choose between term life and whole life policies. In 2019, about 70% of consumers with a life policy had term life coverage, an increase from 63% in 2017. That same year, 44% owned permanent life policies, an increase from 35% in 2017. Knowing these statistics may make your choice easier, but it's still a good idea to understand the difference between the two options.
As the name indicates, whole life coverage lasts your entire life. If you like flexibility with your insurance, you could prefer a whole life policy. Policyholders may also change their death benefit. One advantage of whole life coverage is the policy builds cash value. If you like, you can use the cash value to either pay your premiums or borrow against the amount.
With term life insurance, you only have coverage for a specific time and pay a specific amount. You may prefer term life premiums, but you must understand one key disadvantage. If your term life coverage ends and you still need a policy, expect to pay a lot more for continuing coverage.
Life Policy Discounts
Insurance discounts make it more affordable to prepare for the worst life throws at you. Save money on coverage by comparing discounts as you compare quotes. If an insurance company you like offers additional coverage policies, such as auto and health insurance, consider bundling multiple policies to save money. Billy also helps you find health and auto insurance, so keep that in mind if you need to protect your health and your car.
Another way to save money on life insurance is by securing a policy while still young. Waiting until you're older could make it hard to find providers willing to cover you, especially if you have health complications. Using Billy to search for quotes also lets you know the range of prices in your area, which helps you secure an affordable policy with confidence.
Start Searching Today
You need not feel overwhelmed while searching for the perfect life insurance policy. Let Billy handle all the heavy lifting and break down your options. Start your search today by calling 855-224-5599 or submitting an online form. You might consider end of life or final expense insurance to relieve any burden on your family.
Insurance Disclaimer: Billy.com is a free service to assist users in getting insurance quotes from insurance providers. Billy.com is not affiliated with any state or government agency. Billy.com is not an insurance agency or broker, nor an insurance referral service. Billy.com does not endorse or recommend any participating Third-Party Insurance Providers that pay to participate in this advertising.