Enter your ZIP code:

Ohio Life Insurance

Ohio Life Insurance
Finding life insurance can be a tough process. Weeding through all the sales hype and getting to the essential information takes time. But don’t despair! InsureMe can help.
It’s our belief that a little knowledge goes a long way. So we’ve assembled a life insurance primer of sorts. Below, we cover what life insurance is for, what kinds of coverage are available, how much you should buy, and what factors you should consider before purchasing a policy.

Life Insurance: Facts and Information
At the most basic level, life insurance is used to replace lost income after you die. It can also cover for funereal and other end of life expenses. Life insurance has also become a savings tool, as well as an ingredient in estate planning and charitable giving.

Your Life Insurance Options

There are two different types of life insurance.
Term life: This type of insurance covers you for the duration of the term period – one year, thirty years, until you turn 65, etc.  Term policies pay out a death benefit if you die during the policy term and are usually cheaper than permanent/cash value policies.

Permanent/cash value: Permanent polices are often referred to as “cash value” polices because they usually include a death benefit component and a long term, tax-advantaged savings plan. Because of the savings component, they typically have a higher premium.

How Much to Buy?
Ask yourself the following questions to further determine how much life insurance to purchase:
  • Will any estate taxes be due upon my death?
  • How would my family pay my final expenses and remaining debts in case of my death?
  • How much of my family's income do I provide?
  • Do I have children for whose education I would need to set aside money?
  • How will inflation affect my family's future needs?
  • Are there family members or organizations to which I would like to donate money when I die?
Some life insurance experts recommend purchasing five to eight times your income to ensure adequate protection. However, the amount needed varies by individual. Talk to a licensed life insurance agent to determine whether this is necessary in your situation.

What affects my premium?
Your health and lifestyle play a large part in determining whether a life insurance company considers you insurable.

When you apply for life insurance, you will be asked a variety of questions concerning these factors. Answer everything honestly and accurately, as inconsistencies or outright lies can cause your application to be denied—or even worse, cause later rejection of claims filed.

Some of the questions an insurer might ask to determine eligibility include:
  • Do you smoke?
  • Do you have a record of drunk driving?
  • Do you health conditions such as heart disease, cancer, AIDS, diabetes, etc?
  • Do you have a family history of fatal disease?
  • Does your occupation frequently put you in danger?
  • Are you disabled or retired due to illness or injury?
Please note: while Ohio does not allow genetic testing for health insurance applicants, insurance companies may use genetic information when determining your suitability for a life insurance policy.

Before you buy
Make sure you buy a policy from a licensed, trustworthy and financially secure insurer. A.M. Best provides free stability ratings and complaint histories of Ohio life insurance companies.
A.M. Best
908-439-2200
www.ambest.com

For more information, contact the Ohio Department of Insurance at 800-686-1526, or access their Web site at www.ohioinsurance.gov.

Get competitive quotes now!
Now you’re armed with the basic knowledge you need to get started. Submit your info in our "Get a free quote" box, and we'll get you life insurance quotes.


Free Car Insurance Quotes!  
Free Home Insurance Quotes!   
Free Health Insurance Quotes!   
Free Life Insurance Quotes!   
List of Articles
No. Subject Author Views
52 Wyoming Life Insurance youcomparequotes 4571
51 Wisconsin Life Insurance youcomparequotes 4727
50 West Virginia Life Insurance youcomparequotes 4468
49 Washington, D.C. Life Insurance youcomparequotes 4273
48 Washington Life Insurance youcomparequotes 4409
47 Virginia Life Insurance youcomparequotes 5768
46 Vermont Life Insurance youcomparequotes 4279
45 Utah Life Insurance youcomparequotes 4449
44 Texas Life Insurance youcomparequotes 4373
43 Tennessee Life Insurance youcomparequotes 4296
42 South Dakota Life Insurance youcomparequotes 4328
41 South Carolina Life Insurance youcomparequotes 4394
40 Rhode Island Life Insurance youcomparequotes 4152
39 Pennsylvania Life Insurance Quotes youcomparequotes 4655
38 Oregon Life Insurance Quotes youcomparequotes 4247
37 Oklahoma Life Insurance youcomparequotes 4024
» Ohio Life Insurance youcomparequotes 4001
35 North Dakota Life Insurance youcomparequotes 4215
34 North Carolina Life Insurance Quotes youcomparequotes 3970
33 New York Life Insurance youcomparequotes 4095
32 New Mexico Life Insurance youcomparequotes 3940
31 New Jersey Life Insurance youcomparequotes 3782
30 New Hampshire Life Insurance youcomparequotes 3877
29 Nevada Life Insurance youcomparequotes 3789
28 Nebraska Life Insurance youcomparequotes 3722
27 Montana Life Insurance youcomparequotes 4026
26 Missouri Life Insurance youcomparequotes 4006
25 Mississippi Life Insurance youcomparequotes 3637
24 Minnesota Life Insurance youcomparequotes 3996
23 Michigan Life Insurance youcomparequotes 4245
22 Massachusetts Life Insurance youcomparequotes 3881
21 Maryland Life Insurance youcomparequotes 3820
20 Maine Life Insurance youcomparequotes 3643
19 Louisiana Life Insurance youcomparequotes 3566
18 Kentucky Life Insurance youcomparequotes 3696
17 Kansas Life Insurance youcomparequotes 4150
16 Iowa Life Insurance youcomparequotes 3801
15 Indiana Life Insurance youcomparequotes 4031
14 Illinois Life Insurance youcomparequotes 3621
13 Idaho Life Insurance youcomparequotes 3574
12 Hawaii Life Insurance youcomparequotes 3525
11 Georgia Life Insurance Quotes youcomparequotes 3965
10 Florida Life Insurance youcomparequotes 3663
9 Delaware Life Insurance youcomparequotes 3871
8 Connecticut Life Insurance youcomparequotes 3900
7 Colorado Life Insurance youcomparequotes 3685
6 Colorado Life Insurance youcomparequotes 3896
5 California Life Insurance Information youcomparequotes 3391
4 Arkansas Life Insurance youcomparequotes 3429
3 Arizona Life Insurance Quotes youcomparequotes 3838
2 Alaska Life Insurance youcomparequotes 4229
1 Alabama Life Insurance youcomparequotes 3669
XE Login