Are you looking to buy a level life insurance policy?
If so, you may want to understand how it works and why it may be right for you.
Level Life Insurance provides life insurance coverage that remains the same each year for the life of your policy, while the premiums also remain level.
So, if you have a 10-year policy with annual premium of $250 and $300,00 of coverage, that means you pay $250 each year and you have $300,000 of life insurance protection for a period of 10 years.
Level life insurance provides coverage for a term of 5, 10, 15, 20, 25 or 30 years.
If you die during the term, your family (beneficiary) receives the death benefit. If you outlive the term of your policy, your life insurance expires.
Level term life insurance policies are the most popular type of term insurance because they have the lowest prices and offer guaranteed level coverage and rates for the term of your life insurance.
Many people choose to buy a level life insurance policy to provide temporary protection for a period of 30 years, or less.
For instance, if you have a young family and want to provide financial security for your kids until they are grown, you may want a 20 or 30 year term life policy.
And, if you have a 30 year mortgage loan on your home, you may want a 30 year level term life insurance policy to make sure your family can remain in the home they shared with you, in case you die.
With level life insurance you can lock-in a low rate for up to 30 years, and it is guaranteed to remain the same for the entire 30-year period.
Since rates increase with age, it’s usually a good idea to lock-in a low rate on your life insurance plan while you are young and healthy.
If you need more life insurance in the future, you may be able to add coverage to your existing life insurance, or buy another policy.
When shopping for a low cost level life insurance policy you may want to compare pricing for level term insurance for a period of 10 to 30 years. Your quotes will show all options available and let you know which companies offer you the lowest price.
In addition, your online life insurance rate quotes will provide the financial rating of the insurers quoted so you can easily decide which is the safest, most financially secure life insurance company.
Level term life insurance also offers coverage with no health exam required.
In fact, there's an "A-" rated life insurance company founded in 1848, which offers up to $400,000 of level term life insurance with no medical exam required, just some health questions. And, if you qualify, you may start your life insurance policy the same day.
Level Life Insurance Quotes
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