Cheap Life Insurance New Jersey NJ
Reader’s Question:
I currently have two insurance policies and I tend to feel over-insured at the moment due to high premiums. Is there any option for me to pay cheaper life insurance without sacrificing the benefits in New Jersey?
Bill
Elizabeth, NJ
I see your point Bill.
I was once in the same situation in New Jersey. Luckily, I got to meet an insurance agent in my state who gave me an option to get a joint life insurance policy. This option is available on either term or whole life insurance policies. It can be purchased as either “first to die” or “second last to die”.
The joint life policy is a cheap life insurance policy in the sense that it can insure two or more people on the same policy with a premium that is more expensive than insuring just one, but cheaper than having two policies.
What is the difference between “first to die” and “second to die”? In the former, the beneficiary receives the proceeds when the first injured person dies, and the policy is terminated. In the latter, the face value is paid when the second or last insured person dies.
To check availability of joint life in New Jersey, type in your zip code on the form found on this page. Free quotes only. No obligations.
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