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Understanding Your Life Insurance Options

The importance of having quality life insurance is the same for people of all walks of life.

Life Insurance Options

Whether you’re already financially established, or a young couple just starting a family, obtaining comprehensive life insurance is essential. Regardless of age, all working adults should consider having sufficient life insurance a priority. No matter what stage of life you may be in, having the right life insurance will ensure that your family is taken care of financially after you are deceased. Read also: Don’t Apply for Life Insurance Quotes for Over 80 Until You Read This.

Since being founded in 1937, Progressive Insurance has been the leader in providing comprehensive, affordable coverage. In recent years, Progressive has partnered with E-Financial to add the option of life insurance to its array of insurance packages.

There are two types of life insurance available through Progressive:

  1. Whole life insurance spans an indefinite amount of time. The policy remains in active until the insured is deceased.
  2. Progressive’s term life insurance should be taken into consideration for those who are looking for a policy that covers a specific amount of time. With this option, customers can tailor their coverage to a certain need. For example, for a customer who is currently paying off a mortgage, their term life insurance can remain in place until it is paid in full (5 years or more). At that time, they can then adjust their coverage. Why They Call It Universal Life Insurance.

Some factors that will determine your individual rate include:

  • Marital Status- Both men and women, whether single or married, should value the importance of having sufficient coverage. Even in a household where there may be an unemployed spouse, insurance is still vitally necessary to cover any expenses that could incur if they were to pass away. Without an insurance policy, the surviving spouse would be left solely responsible for any outstanding hospital bills and burial/funeral costs.

  • Medical Expenses- Those inquiring about Progressive life insurance quotes are generally asked about their lifestyle and health habits. Nonsmokers pay a significantly lower premium than smokers. This is simply because smokers are at a higher risk for conditions such as heart disease, cancer, and cardiovascular disease. Use of the following products containing tobacco or nicotine could lead to higher rates: cigarettes, cigars, chew, dip, pipes, nicotine patches or gum, and others. Read also: How much is Your Life Worth? Life Insurance Protects Your Family.

  • Childrens’ Ages (if any)- The most commonly purchased form of coverage for children is permanent insurance. It remains in place for the entirety of the child’s life, and can be used in the future if they develop any serious illness. It can also be used as collateral for loans, which could potentially help fund their education or other life expenses. In other cases, term life insurance for children may be the more affordable option. The premium starts off low, then rises as the end of the policy draws near. With this kind of coverage, there is a cash benefit in the event of an accident, serious illness, or if your child dies within the term of the policy.

There are several strategies that may help lower the cost of your Progressive life insurance premium:

  • Maintaining a Safe Driving Record- Insurance companies take your driving habits into consideration when assessing your risk of death. Too many traffic violations can result in higher out-of-pocket insurance costs.

  • Staying in Shape– Ideally, it is best to purchase life insurance when you are in good health because, oftentimes, you will pay less. When assessing your life expectancy, insurance companies take your height-to-weight ratio into consideration. Eating healthy and exercising regularly can save you a significant amount of money. Read also: The Best Life Protection.

  • Keeping Serious Medical Condition Under Control- While it is true that previously diagnosed conditions can translate into higher premiums, applicants can qualify for lower rates if they maintain good control of their illness.

  • Consider Paying Your Premiums Annually– Sometimes, customers are eligible to receive certain discounts when they pay their premiums annually, rather than monthly. Although this will add up to remarkable savings over time, it will initially cost more.

Purchasing insurance to cover potential burial expenses doesn’t have to be an unpleasant experience. It will give you great peace of mind to know that your loved ones won’t have to worry about such costs in your absence.Progressive’s life insurance quotes make buying this type of coverage affordable and easy. By allowing policyholders to choose the duration of their coverage, Progressive life insurance provides flexible options to customers who need a budget-friendly way to plan for the future of their loved ones.


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