Some Types of Life Insurance are a Waste of Money

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For a free term life insurance quote visit www.accuquote.com or call 800-442-9899.

Don't be fooled by fancy names and clever advertising schemes

Wheeling, IL (Vocus) July 6, 2010

Strapped for cash? Stop spending money on certain types of life insurance. AccuQuote, a leader in providing term life insurance quotes to people across the United States, provides reasons why certain types of life insurance should not be included in a family’s overall insurance plan.

The key reason to buy insurance is to protect a valuable asset. Insurance such as homeowner’s, auto, health and life are the most important types of insurance. In fact, many states require proof of ownership of insurance in these areas. However, there are many other types of insurance on the market that are simply not worth the money.

“Don’t be fooled by fancy names and clever advertising schemes,” says Byron Udell, founder and CEO of AccuQuote. “The truth is: some types of insurance sold today provide the same amount of protection you can get from an economical term life insurance policy.”

Following are types of insurance to avoid:

•     Mortgage life insurance – Mortgage life insurance promises to pay off the insured’s outstanding mortgage in the event of their death. These types of policies can be costly. In addition, the amount of coverage mortgage insurance provides decreases overtime; making it very narrow in its coverage. “A traditional term life insurance policy will provide your family with enough money to pay off the mortgage and take care of other financial obligations at a much lower cost,” says Udell.
•     Credit life insurance – Credit life insurance covers outstanding credit card debts in the event of the policyholder’s death. This type of insurance is overpriced and sold under unreasonable terms. Term life insurance provides more coverage at a lower cost per thousand.
•     Air travel life insurance – Air travel life insurance provides converge for deaths that occur on, or due to, commercial aircrafts. It is simply a waste of money. “Many airports sell this extremely pricey type of life insurance as a way to make money off of people’s fears of flying,” says Udell. “If you compared the price of an air travel life insurance with a traditional term life insurance policy you’d see that you’re paying several times more for a limited amount of protection.”

The bottom line: these gimmicky policies are nothing more than overpriced ways to buy protection.

“Save yourself some money and buy a competitively priced term life insurance policy with a face amount that fairly represents the economic value of all of your assets,” says Udell. “Then you can rest assured knowing that if you check out early your family is protected financially.”

For more information on an economically priced term life insurance policy contact a licensed life insurance agent at AccuQuote.

About AccuQuote
AccuQuote helps consumers find the best values in term life insurance by combining instant online life insurance quotes with the personal service of unbiased life insurance professionals that can help answer questions, identify important issues, and make meaningful recommendations. The company offers consumers an extensive selection of life insurance options, including term life, whole life, and universal life, as well as selected annuities. The website has many handy insurance tools, including a term life insurance calculator to help you figure out how much to buy, a glossary that explains industry terminology, a collection of articles that cover the basics about life insurance and a blog which answers many questions about life insurance. For additional information or to get quotes for cheap term life insurance, please call 1-888-314-4455.

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