A Money-Saving Option
The most difficult task of buying life insurance may be finding a premium that will fit into your budget. With many life insurance options available, one option that will definitely save money without lowering your coverage is no load life insurance.
What is No Load Life Insurance?
The “load” is comprised of the fees and commissions earned by insurance agents and brokers. The fees added are to compensate agents and brokers for marketing costs, advertising and other expenses. Life insurance is purchased through an insurance agent who is paid commission for policies sold.
Purchasing from a fee-only financial adviser or directly from the insurance company eliminates or at least reduces the load on your policy. Another term often used is “low load” and refers to life insurance policies with limited fees charged by the agent.
Does No Load Life Insurance Pay Any Commissions?
For “low load” insurance policies there may be some service charges or fees paid to the insurance agent. No load policies do not include commission.
Can Lincoln No Load Life Insurance save Money on My Premiums?
When you buy directly from an insurance company you eliminate the middle man – the agent or broker. The company does not have to pay a fee and passes the savings on to you. You may be able to buy more insurance than you planned and you will have lower premiums. It is possible to realize substantial savings when buying no load life insurance.
As you pay your premiums, less of those dollars are allocated to commissions and fees. This allows more dollars to be dedicated to building cash value which is what you want from your policy.
Is Lincoln No Load Life Insurance a Good Idea?
Those who expect personal service when buying insurance may not care for the no load method of buying directly from the insurer as such frills are not part of this agreement. The question you must answer is how much you are willing to pay each month for the privilege of having an insurance agent who will give you individual attention.
See how easy it is to shop online for life insurance. Get your free Lincoln life insurance quotes today!
