Life insurance is an essential element of financial planning. With the right insurance policy, you can ensure that no unexpected liabilities affect the family’s financial solvency in the future. Today, hundreds of insurance providers specialize in such policies designed keeping in mind customer needs and, more importantly, service satisfaction.
Affordable premiums, tax benefits, and lump-sum payments are just some of the main highlights of the following best policies to consider for this financial year. Northwestern Mutual® Northwestern Mutual® is one of the leading insurance providers in the country. Now smartly plan your finances with policies that suit your personal requirements. Northwestern’s Whole Life Insurance policy helps you pay for home down payments, plan retirement living, pay for children’s education, provide funds for emergencies, and even cover capital expenses for expansion. Northwestern’s Universal Life insurance gives more flexibility in terms of policy coverage and payments to build better cash value. Additional Variable policies allow more flexibility in terms of determining overall cash value for death benefits and the usage of the funds. The company also offers Term Life insurance policies for a period of 10, 15, and 20 years at some of the most affordable premium rates. Haven Life Haven offers two simple financial products with maximum benefits for an affordable premium. Haven Term coverage extends benefits for $3 million with nationwide availability for applicants up to 64 years of age. Key features of the policy include level premiums, accelerated death benefits, digital application and process, and a no obligation free-look period. At the end of the 10, 15, 20, 25, or 30 year period, Haven Life features a tax-free lump sum payment option. Alternatively, Haven Simple term life insurance does not require a medical exam and is available for individuals between the age group of 20 and 55. The tenure range is set at 5, 10, 15, and 20, with coverage limits starting at $25,000 going up to $500,000 insurance. Bestow Bestow is one of the best options for term life insurance with instant coverage upon approval and no medical exam necessary to qualify for the benefits. Applicants between 18 and 60 are eligible for coverage limits starting at $50,000, going upwards to $1,500,000. With an increment of 5 years, bestows policies are available for a tenure between 10 and 30 months. Key benefits of the insurance policies include premiums starting at less than $10/month with tax-free payouts to the assigned beneficiaries. The convenience of digital applications and speed of service with respect to processing and payments are the key advantages of Bestow’s term life insurance. Guardian Guardian also ranks among the top insurance providers for term benefits as its policies help bridge the insurance benefit gap between men and women. The company provides equal benefits to all applicants and features custom policies that are the right fit for the situation at the time. Guardian’s term life policies are suitable for single parents, only income-earning adults managing all household expenses, stay-at-home parents, homeowners, and seniors planning their retirement. You can get quotes on the policies by filling out an online form and providing details like gender, age, lifestyle habits, and yearly income. Guardian even offers unique coverage options, including universal and whole life policies for HIV-positive patients, and features survivorship insurance. The only drawback is that even though the company provides easy online quotes, you will still need the assistance of an agent to purchase the chosen policy.