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A Smarter Way to Buy Life Insurance
Life Insurance Basics
Online Quotes: Fact or Fiction?
Life Insurance 101
Life Insurance for the Stages of Life
Frequently Asked Questions

Life Insurance Tools
Life Insurance Needs Calculator

Life Insurance Medical Exam Tips
Factors That Determine Insurance Rates
Top Life Insurance Myths

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Some Basics on Life Insurance

Life Insurance is a contract issued by a life insurance company that guarantees payment of a death benefit in the event of the death of the insured. The life insurance death benefit is usually paid in a lump sum although the beneficiary can elect to receive the life insurance death benefit in the form of an annuity.

The purpose of life insurance is to insure the economic value of a human life; the earning power provided for a family or business. Reasons people buy life insurance are because they have children, a mortgage, other loans or debts, final expenses and/or business responsibilities that require cash in the event of their death.

There are two types of life insurance; term insurance and permanent insurance.

Term insurance is issued for a specific period of time which is called the "term". Usually, term insurance is available in a 10, 15, 20 and 30 year life insurance policy.

Permanent life insurance is available as whole life insurance, variable life insurance and universal life insurance. Spectrum Direct can provide you with all types of life insurance to fit your needs.

For online life insurance, you can get an instant term life insurance quote simply by entering your date of birth, gender, state of residence and a few health details. You will receive an instant life insurance quote showing the best life insurance companies in the industry, their term insurance rate and financial strength ratings for each life insurance company.

Spectrum Direct constantly monitors the most important life insurance company information to provide you with the life insurance quote that is based on low cost, high quality and excellent service life insurance.

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