If you live in western Oregon you can't go wrong by purchasing an umbrella, but failing to do so can result in drippy tresses and a saturated wardrobe. That's not so bad especially if you're prone to jumping in puddles rather than over them. But if you have dependants that rely on your income, you simply cannot afford to go without buying an Oregon life insurance policy no matter where you reside in The Beaver State. The type of policy you purchase and factors such as your age, gender and overall health will determine your premium. The younger and healthier you are the lower the rates will be on your Oregon life insurance quotes.

Family Unit
Priorities change when you get married, but put a child into the mix and you can multiply your worries by 1,000. This is a stage in life when families realize their need for life insurance. An Oregon life insurance policy can take care of funeral expenses, credit card debt and mortgage payments if you die. It can also provide assistance for college tuition or for your spouse's retirement. The National Association of Insurance Commissioners (NAIC) suggests you consider covering both spouses with life insurance even if one is a stay-at-home parent as the surviving spouse will need to shoulder all the responsibilities of the household if one spouse dies. The NAIC also recommends the following:

  • In determining the amount of life insurance to purchase, make sure to take into account your full childcare costs, especially for children under 5 years old and for kids with special needs.
  • Weigh the costs/benefits of purchasing whole life vs. term life insurance. Whole life policies are more expensive, but they offer a cash value benefit that grows over time and they also pay a death benefit. If you're concerned about immediate costs, consider a term life policy with a conversion option that will let you change to a whole life policy for a fee when you are ready.

On the other hand, if you have no dependants or debt and there is enough money in your savings to pay for your funeral, you might not need life insurance. However, if you plan to have a family in the future shopping for Oregon life insurance quotes now could save you some cash seeing as premiums tend to increase as you age.

Seek Savings
During your search for Oregon life insurance quotes be sure to inquire about discounts. If you've had a policy in place for the past five years or so and have quit smoking or lowered your cholesterol, you may be eligible for a discount as your health has improved. Most companies offer discounts for specified insurance amounts, the Insurance Information Institute points out. For example, you might actually pay a lower premium for $250,000 of life insurance than for $200,000 because a discount kicks in at the higher insurance amount. Shop around to ensure you're getting the best, most affordable coverage. You can either scout out the hundreds of licensed insurance companies in your area or you can use a free service like LocalInsurance to do the work for you. With LocalInsurance, you'll have several Oregon life insurance quotes to review from the comfort of your own computer just by filling out a simple form online.

There are numerous resources regarding life insurance. Each state has a Department of Insurance that is able to help you educate yourself on life insurance. They may also be able to provide you with information regarding any specific laws regarding life insurance in Oregon. There are also a number of other resources online that may assist you in learning more about life insurance so that you can choose the appropriate policy for you. These include: