What You Need to Know About Oregon Life Insurance?

| Sunday, February 13, 2011
By Orville Reading

The biggest issue that comes up when looking for an Oregon life insurance quote are what kind of insurance to buy and the how long you can postpone buying life insurance. You can postpone buying insurance so long as you can postpone death. Many people do not like the idea of life insurance because it can be too complicated but we have to consider it due to our own mortality.

Oregon life insurance can range from very inexpensive to a fairly hefty cost. It's all based upon your personal financial situation. You might not need OR life insurance if you have no dependents. If everything you own is paid for or there's enough assets to cover what you owe, you also might not have a need for Oregon life insurance.

Its important to re-evaluate your insurance needs regularly. As more people lose jobs, many realize that the life insurance paid by their company cannot be transferred to them. Due to this, more retirees and working adults are thinking of getting life insurance to help with their investment strategy as the value of their investments shrink.

If you don't have any life insurance, bills and burial costs will need to come out of any bank accounts that you have. Frequently we get life insurance so that these items will be covered and family doesn't have to pay them as well as to leave money for family members or a charity. For those without a lot of liquid cash, life insurance is a way to make sure that these costs are covered.

Many people have Oregon life insurance policies that are substantially more than the cost of the death benefit. They can then use the funds by borrowing against the policy to cover extraordinary costs such as home purchases, tuition bills or surprise medical expenses.

Estate taxes have been lower for the last several years. In 2010 this break is set to expire and what Congress decides upon reviewing it is still up in the air. In the event that estate taxes increase, you can have your life insurance cover those additional expenses for your heirs. This is a common reason why many people have life insurance policies.

One of the main reasons that insurance companies raise Oregon life insurance quotes is to rebuild their capital base if they've had poorly performing assets. If you choose a large and stable company you are less likely to run into this. But if estate tax coverage increases in importance, and insurance companies increase rates to rebuild the capital base you may well see increases in life insurance quotes in the upcoming years. Therefore, to avoid this likely increase in premiums, it's better to buy life insurance now and get your rates set.

Death and taxes are two certainties for all of us in life. Getting Oregon life insurance quotes is the first step to make sure that your family is protected from these situations.

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