Reader’s Question:

I’m from Edison, New Jersey. I just want to ask if cheap life insurance policies can have riders. Compared to other life insurance, what are the advantages and disadvantages of a cheap life insurance?

Butch

Edison, NJ

Thank you for asking Butch!

First of all, Term life insurance is the cheapest among life insurance. Cheap life insurance policy has many limitations, despite of this it never fails to give advantages to its patrons. Given that it is cheap compared to others, you can add child riders to it at a very low cost. By the time the child reaches the age of 18 to 25 years old, the child can now convert the rider to a whole life policy several times greater compared to the original rider with no medical underwriting. This is the easiest and the most inexpensive way for your child to avail his own life insurance policy when he reaches the right age.

Other then the above mentioned, term life insurance policy can also be avail with disability waivers and unemployment riders. But this doesn’t last forever, employment rider gives you the chance/ a new opportunity to establish yourself and find a job with out losing your life insurance. With disability waiver being included on your policy, the insurance company is obliged to pay for your premiums in case you get disabled.

To shop for a cheap life insurance policies in your area, just enter your zip code on the form located on this page so you will get free quotes without any obligations. That is the most logical practice before you buy any in surance and I stongly suggest you compare at elast 5 quotes from different companies first before buying anything.

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