Welcome to Good Financial Cents, where we offer a variety of Illinois life insurance products to help you meet your needs.
As an independent agency located in Illinois, we can find you the best rates on term, universal or whole life insurance.
Getting life insurance in Illinois does not have to be tough or a confusing process.
Not sure if you even really need life insurance?
Check out the video below to see why you need it and how I went about figuring out how much I needed to buy for my family.
Interest in a free quote? Just fill out the info below.
Life Quotes by Wholesale Ins.
Still need more? Read on to learn all you need to know to acquire affordable life insurance in Illinois.
Reasons to Buy Life Insurance
Typically people buy life insurance to provide income replacement in case something happens to either you or your spouse. Many choose to get a policy lasting the length of their mortgage, to make sure that the house would be covered in such a scenario. Actual or potential medical bills, unresolved debts, unpaid loans, insuring against the possible loss of a business partner or key employee, or simply ensuring that a person will be able to leave an inheritance are all great reasons to have life insurance. For me, purchasing life insurance was the only option to make sure that my family was protected in case something happened to me. I’ve had the unfortunate opportunity to witness what happens when a spouse unexpectedly dies and the remaining spouse is left in financial hardship.
Losing a loved one is hard enough. There’s no reason that they should have to worry about the finances, too.
The major life insurance companies in the U.S. offer most of their products throughout the country at the same price – so there’s no direct advantage or disadvantage to purchasing insurance in Illinois. But there are certainly ways to ensure that you get a good deal on your premium. The first is to make sure you work with an independent agency, such as us here at Good Financial Cents (Alliance Wealth Management, LLC). So-called ‘captive’ agents can only work with a single insurance company. Independent agents, on the other hand, are free to work with any company. So we can take your information and shop it around to various companies in order to find you the best rate for your situation.
Typical Costs of Life Insurance in IL
Relatively, the cost of term life insurance is cheap. In some cases where high risk insuranceis a factor, premiums can and will be higher. Here’s what typically are the leading factors of what will determine how much your life insurance will cost.
- How much coverage are you looking for? Straightforward….more coverage you want the more it’s going to cost you.
- How long do you need coverage? Typically, the shorter the term of the policy, the less you will pay. Though there can be minor exceptions, term policies are generally cheaper than whole life or universal.
- What’s your health classification? This is where working with an independent agent is most beneficial. People with a specific medical condition (such as diabetes, a history of cancer, heart disease, etc.) will often be rated differently by various insurance companies. An independent agent can take your information and shop it around to different companies to find you the best rate. The difference of just one health rating can often mean a 25% difference in premiums. And even the healthiest individuals can benefit by working with an independent agent, for there will always be at least one insurance company more competitive on price for the specific policy type you are looking for.
- Lifestyle choices can factor into calculating premiums. Are you a sky diver or base jumper? Your thrill seeking hobbies will cause your premiums to to be higher.
Applying for Life Insurance in Illinois
To get started with a quote, use the quote engine below. It will take you less than 3 minutes to get a quote. If you like what you see, you can follow the link to request an application. We’ll give you a call to make sure we’re getting you the best deal for your situation. Or, feel free to call me directly at 855-457-6525. I’ll take you through a brief questionnaire to help determine your health rating, then find you the best rate available.