Cheap Decreasing Term Life Insurance Quote - The Hunt and Critical Dangers of Getting a Cheap Quote

Ok, so your getting a new mortgage and you were told you need to get a life policy to cover it and now you are on the hunt. Being a wise consumer you decided to go with a term life policy because you understand that they give you the best rate of all the different types of insurance. So here's the low down on how to find the best policy

Face Facts

Of all of the term life policies a decreasing life policy will cost the least over time this is because the face value the policy decreases or goes down over time - hence the name decreasing term. This type of policy is perfectly suited for covering mortgages and is sometimes called mortgage life insurance.

This is why a mortgage company requires this kind of insurance; they want you to be able to pay off the mortgage in the event of your death. So when searching for a decreasing term benefit insurance understand that they differ significantly from every the other type of life insurance which have a level death benefit that stays the same over the term of the policy.

The Hunt

There are two strategies to finding a quote on your decreasing term life insurance you can "dial for dollars" by calling your local insurance agents or brokers or you can check sources for multiple insurance companies online.

Don't Give Away Too Much Info

When you are doing your online searches you need to understand that there are two types of business that you will come across. The first type of business is the legitimate insurance brokerage or direct insurer company; the second is the hard sell online broker.

The difference is that the hard sell broker is trying to mine your personal information before they give you a quote. They want your phone and address so that they can call and talk you into a policy with them. Avoid these types of sites.

A legitimate brokerage will give you a quote based of off common statistical date - your age, health, gender, etc. The trick is that both the good and the bad site will require you to fill out some form of questionnaire it is just a matter of ensuring that the questions are genera questions that do not include phone numbers, addresses or names. If they do you can rest assured you are dealing with a scam artist.