No Load Life Insurance

Life insurance is an essential product for anyone with a family to support. Accidents are rare, but they happen, and the ability to pay for and insure the financial wellbeing of those who are left behind is important. Additionally, the special tax benefits and other incentives offered by life insurance plans mean that they are an excellent way for persons of wealth to leave money for their children and grandchildren. Life insurance policies can even pay out to charities, endowments and other public investments, ensuring that a person can help to fund what they know is important after they have passed on. It is even possible for married persons to take out insurance policies on one another, to ensure that if they die, their spouse will have enough money to carry on.

Most life insurance policies have a cost that is determined by taking a person’s present age, health and habits and then feeding them into a cost-benefit analysis to determine how large of a policy they can buy, and at what rate. For persons who are young and healthy, this is generally a good deal. They are low risk and the inevitable payoff will occur very late in life, meaning that the life insurance company can offer them very low rates and still generate a profit. However, traditional forms of insurance may not be adequate for persons of limited means, advanced age or ill health, who need to get the lowest premiums possible in spite of limiting conditions.

These persons stand the most to benefit from “No Load” or “Low Load” life insurance. This form of life insurance was developed after the invention of the Internet, and is called “no load” because it is sold without the help of advertising or an agent. Much of the cost of life insurance is consumed by the need to create an advertising campaign and then to distribute the insurance through agents, who often need to make cold calls our send out a mailing campaign in order to find potential buyers. No load life insurance policies have none of this, and the savings are passed on to the buyers by means of lower monthly fees.

Without advertising and distribution, however, persons wishing to buy no load life insurance must do so by searching the Internet and finding a policy they wish to buy. Since the policies are not advertised, customers must approach insurance companies and see what is on offer, as well as what rates they might pay. This is primarily done by going to an insurance company’s website or contacting one of their representatives and inquiring about no-load life insurance policies. Almost all life insurance companies have a number of no-load life insurance plans, since they bring in customers who might otherwise be turned away by high fees or pushy ad campaigns. Smaller insurance companies tend to have the best no load life insurance plans, since they need to compete with larger companies that have better advertising budgets.

The large number of no load life insurance policies, and the fact that they are not advertised, means that it is often difficult for potential buyers to find the one that they want. Fortunately, there are a number of sites online that permit those interested in no load policies to obtain instant quotes from a number of companies and then compare them. There are a large number of sites that do this, and it is advisable for anyone wishing to purchase a no-load policy to visit a number of them for the purposes of price comparison. Most of these sites require only very minimal initial data to be entered in order to accept quotes, but provide little in terms of detail when it comes to the actual terms of the insurance.

No load life insurance is often very restrictive, and persons wishing to purchase it should read the contract carefully. Since no load life insurance is offered without the help of any intermediaries or advertising, many of the policies carry restrictions or obtuse provisions that make them worthless to many potential buyers. Before buying no-load life insurance, a buyer should always have the contract carefully examined to check for such provisions or ambiguous wording. The financial solvency and pay out history of the company should also be examined.