Shopping for Long Term Life Insurance Quotes
Are you looking to compare the best prices for long term life insurance coverage?
If so, it may be much easier than you expected.
Actually, you can request and receive instant pricing on term insurance from 40 leading insurance carriers, showing you the best quotes on coverage for long term policies.
By comparing your free quotes online today you may save up to 50% or more on your policy which could mean hundreds of dollars in savings each year you are insured.
What is Long Term Life Insurance Policy?
It’s temporary life insurance protection for an extended number of years. You are covered for the specific period of time stated in your policy.
For example, if you purchase a 20-year term life policy you have coverage for 20 years.
If you should die during those twenty years, your insurance company would pay out a death benefit on your policy to the person or persons you choose as beneficiary of your insurance.
The death benefit is the amount if life insurance you purchase on your policy. The proceeds (death benefit) from a life insurance plan are usually paid out free from federal income tax.
Your beneficiary can use the proceeds from your insurance for anything they choose – they can spend the money as they see fit.
How Long Does Long Term Life Insurance Coverage Last?
You have several options for the duration of your term life policy. Most insurers offer life insurance for a "term" (duration) of 10 to 30 years.
Longer term plans are usually for a period of 20, 25 or 30 years of protection.
However, there are term life policies offering a term of 5, 10, 15, 20, 25 or 30 years, depending on the insurance carrier options available.
Keep in mind, the longer your "term" for coverage, the higher your annual cost of insurance, because the odds are greater you may pass away during the longer term of your policy, and a death benefit would be paid out.
Is a Physical Exam Required?
Yes, there is usually a "paramedical exam" required by the insurer when purchasing a longer-term life policy. The exam is paid for by the insurance carrier.
However, there are some insurers willing to offer life insurance with no health exam required for a duration (term) of up to 20 years or more, depending on your age, health, and the insurance company.
Long-Term Life Insurance for Seniors
Can senior citizens qualify to buy long-term life insurance?
Yes, they can. In fact, there are guaranteed approval life insurance policies available for seniors age 45 to 85. You cannot be turned down and they provide you with lifetime protection as long as your insurance premiums are paid. There’s no medical exam required and no health questions asked. You cannot be turned down. Get a Free Quote.
Many people choose to purchase long term insurance policies for life insurance to protect their longer term financial responsibilities, including their home mortgage loan, child’s college education or providing financial security for their spouse or partner, among other things.
Long 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