Philadelphia, PA (PRWEB) September 18, 2012
No exam life insurance quotes are now being offered in Pennsylvania by Online Insurance Marketplace.
Online Insurance Marketplace makes searching for a good and affordable life insurance plan easy. The site provides access to multiple competing quotes from various insurance providers, making it a one-stop place for interested parties to compare prices, and find the best deal. People that are shopping for whole life and term life insurance for themselves, family members, parents, or employees, can visit OIM to get free, no-obligation quotes.
Termlifeinsurance.org explains the difference between whole and term life insurance: "Term life insurance can be purchased in blocks of years ranging from five years up to 30 or 40 years. Term life insurance needs to be renewed every year, but most policies allow for automatic annual renewal. The automatic annual renewal feature runs out when one hits the age of 85 in every state except New York, where the age is 80.
Term life insurance offers no face value to anyone except the beneficiary in the event of the insured’s death. Premiums are usually re-evaluated every year and can go up from time to time. But no matter how high the premiums get on a term life insurance policy, it is always cheaper than a whole life policy.
Whole Life Insurance
Whole life insurance has some significant differences from term life. Whole life premiums never go up and, as long as premiums are paid, the policy is in effect. Part of a whole life premium is an investment account that appreciates in value as one pays the premiums. The insured can take out loans against the cash value at any point and for any reason.
Another feature of whole life is the ability to borrow against the death benefit. If the insured needs to pay a significant expense such as a home repair or a child’s college tuition, then the money can be borrowed against the death benefit of the whole life policy. As long as the policy is in effect, the loan does not necessarily have to be paid back. But if one does not pay the loan back, then it comes out of the death benefit when one passes away. "
Online Insurance Marketplace is an online provider of life, home, health, and auto insurance quotes. It is unique in that this website does not simply stick to one kind of insurance carrier, but brings the clients the best deals from many different online insurance carriers. This way, clients have offers from multiple carriers all in one place, this website. On this site, the client will have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc.
For more information, get a quote.