Progressive Life Insurance
While many people know Progressive as one of the nation’s top performers in automobile insurance, it is not commonly known that the company also offers life insurance. Having partnered with Efinancial, Progressive now offers term life insurance at competitive prices. By requesting a quote from the Progressive Life Insurance website you will be instantly provided with information on up to twelve different term life insurance policies available through Efinancial.
Progressive Enters the Life Insurance Market
Located in Mayfield Village which is a suburb of Cleveland, Ohio, Progressive began selling automobile insurance in 1937. Over the years they have worked diligently to build a customer base by providing excellent customer service along with low-cost, affordable insurance. It is possible to purchase Progressive insurance products on line and over the telephone but it is also possible to talk face to face with the thousands of independent insurance agents around the country. Year after year the company ranks in the top 5 automobile insurance providers and very recently they offer a new line of insurance, Progressive Life Insurance.
Progressive Term Life Insurance Explained
While there are two main types of life insurance policies, term life insurance and whole life insurance, Progressive only carries term life. Term life insurance offers a policy that will expire on a particular date and last for a specified period of time, while whole life insurance policies last indefinitely until the policyholder becomes deceased. Term life insurance policies are usually offered in periods of five years or more, but typically range from 5 to 30 years. This flexibility gives you a diverse range of insurance policies to choose from, and gives you more freedom to change or upgrade your policy, unlike whole life insurance policies that are restrictive and our long-term commitments. Term life insurance policies are also usually cheaper than whole life insurance policies, especially those that only last for 10 to 20 years.
Deciding How Much Life Insurance Is Needed
Assessing the current needs and medical situation on your family is essential in obtaining a single insurance policy that will provide adequate coverage for various types of claims and damages. Consider the occasion of his family members own business employees, as well as their current medical expenses. The amount of coverage needed will also be more if you are the sole income provider for the household, and potential funeral costs should be considered and calculated into the possible total coverage needed within the life insurance policy. If you have worked for the military or are a senior citizen and you may receive access to discounted rates are lower premiums for life insurance policies.
The Cost of Term Life Insurance
The cost of Progressive life insurance policies varies depending on a variety of factors, including but not limited to their age, current medical condition, previous insurance policies, credit history and even credit score. Younger individuals with fewer health issues can usually find a policy that is quite affordable while older adults will most certainly pay a higher premium. Those with excellent credit usually receive the best premiums, followed by younger individuals who have no chronic health problems. People who have been diagnosed with health problems may have to pay higher rates than those that are less likely to incur funeral expenses
When determining the value of a Progressive life insurance policy, it is important to decide exactly how much is needed in the event of a claim. Thoroughly review the terms and conditions of the policy fine print so that you know exactly what it covers and what it doesn’t. Make sure your beneficiaries know that they are named as such so that in the event of your passing they will know where and how to file a claim. Take the time to review the information on the Progressive website if you have any questions regarding term life insurance, and more importantly, Progressive term life insurance.