The next time party guests stay past your bedtime, ask how they feel about obtaining a life insurance quote. Watch that they do not trip over your kitty as they run for the door! No one wants to discuss life insurance quotes. However, if you've got young kids or others who depend upon you, you must have it.

Millions of Americans have no life insurance, and millions more don't have enough to provide financial security for their loved ones. That's a disgrace, because if you're reasonably healthy, you can buy a lot of life insurance without spending a lot of money. Average premiums for individual life insurance have been falling about 6% a year since 2001, and they're expected to drop an additional 5% in 2008, according to the Insurance Information Institute.

Currently, the institute estimates that a 45-year-old non-smoking male would qualify for a 21-year term insurance policy at an annual cost of about $630 at the "standard" rate. Should he qualify for "preferred" rates, which requires higher health standards, the rate could be as low as $350 per year.

Life insurers have reduced their premiums because people are living longer, lowering the risk that the insurers will have to pay benefits to survivors, says an economist for the institute. Insurers have also developed more sophisticated ways to measure the risks of certain lifestyles and diseases.

If you are living on a limited budget but still require a cheap life insurance policy, then consider purchasing term life insurance. Term life and whole life, also called permanent life, are the two different types of life insurance quotes you can obtain. Term life insurance provides coverage for a limited period. If you out-live the period, you are no longer covered. So long as the premiums are paid, permanent life insurance provides coverage for as long as you live. In either case, part of the premium can go into an investment account which you can draw money from.

Permanent life insurance is much more costly that term insurance. A term policy is recommended for most people; it will provide benefits to help care for your children until they are grown and self-supporting. When the term expires, you may be able to renew the coverage, but you may have to take another medical exam to determine the rate. Permanent policies may be appropriate for those who are using insurance as a strategy in the planning of their estate; therefore, they need the policy to last throughout their lives.

You can receive up to 5 FREE life insurance quotes from the major life insurance providers by completing our short 4-minute form at Life-Insurance-Quoter.com. Just a few minutes of time now could save you thousands of dollars in just the next couple years! We've established relationships with major insurers so no matter which one you choose, you'll have a designated local agent to speak with anytime you wish. Visit us today and discover just how low your life insurance premiums can be!