5 Year Term Life

Are you interesting in buying a 5 year term life insurance policy?

If so, you may want to understand how it works.

A five year term insurance policy provides life insurance protection for a period of 5 years. If you die during the 5 year term, your beneficiary receives the death benefit. If you are alive after the 5 years, your life insurance expires.

A five year term life insurance plan may offer the option of renewability. This means you may renew your policy for another 5 year period when it ends. But, your rate at renewal will be based on your age at that time.

If you pay for the renewal option when first buying your life insurance, you will not have to take a medical exam at renewal, you will be approved even if your health has changed.

Compare Term Life Insurance Quotes


NOTE: You may want to compare rates for 5 and 10 year term life coverage when buying your policy, as you may find the cost for a 10 year plan may not be that much more.


Example of 5 Year Term Life:

$250,000 five year term policy, annual premium of $300.

You pay $300 each year for a period of 5 years. If you die during the five-year term, the $250,000 death benefit is paid to your family (beneficiary).

But, if you outlive the five year term, the life insurance coverage expires.

With a 5 year level term life insurance policy you pay the same premium each year, and the amount of life insurance coverage remains the same.

 

Term life insurance offers temporary life insurance coverage for a term (duration) of 5, 10, 15, 20, 25 or 30 years.

If you think you may have a need for life insurance longer than 5 years, you may want to consider purchasing a 10-year term policy to be safe. You never know when your health may change. And, your financial responsibilities may increase over time, if you get married, start a family, or buy a home.

You can compare instant term life insurance rate quotes by choosing one of the options listed below.


Term Life Insurance Quotes


Top Pick – JRC Insurance Group

JRC Insurance Group helps you shop, compare and save on life insurance. Regardless of your age or health background, we'll shop our 40+ insurance companies and find you affordable life insurance you need to protect your family and fit your budget. Compare the best life insurance rates for savings up to 73%. Get Your FREE Quote


Highly Recommended – Globe Life Insurance

$1* Buys $100,000 Globe Life Insurance

  • Coverage for Adults or Children
  • No Medical Exam. Just a Few Yes/No Health Questions
  • Free Information. No Phone Required. No Waiting

Buy Direct. Monthly Rates as low as $3.49 for Adults/$2.17 for Children.



Term Life Insurance | About Us | Privacy Policy | Site Map

5 Year Term Life


 


Disclosure: Compensated Affiliate