How to Get Online Term of Life Insurance
Are You Shopping for Term Life Coverage Online?
If so, you’ve come to the right place.
We can help you to instantly compare the best prices for term life insurance from 40 of the top insurance carriers in America.
Here’s how to request your free term life quotes now.
Do You Know How Term Life Insurance Works?
Term life coverage is a type of life insurance plan that provides you with protection for a specific period of time.
Most insurance companies offer term life for a “term” of 10, 15, 20, 25 or 30 years.
The “term” is the period of time you have the life insurance coverage.
So, for instance, if need life insurance for 20 years until your kids are grown-up and on their own, you would choose a 20 year term life policy.
How Does It Work? A 20-year term life policy means you pay a premium for your coverage (that same amount each year) and you receive a set amount of life insurance protection for that 20 year period.
Example: $300 annual premium for $250,000 of 10-year term life insurance.
Based on the example above, you would have $250,000 of life insurance protection for 10 years. Each year you pay a premium of $300 to the insurance company.
If you pass away during the ten-year term, your beneficiary (you choose the person who is beneficiary) would receive the $250,000 from your life insurance policy.
The death benefit from a life insurance policy is usually paid out to the beneficiary free from any federal income tax.
The beneficiary can use the money for any purpose he or she chooses to; such as, to pay for living expenses, pay for your funeral and burial costs, pay off debt including mortgage and credit card debt, or use the money to replace your income, among other things.
Choosing The Right Term of Coverage
When choosing a “term” for your term policy make sure you consider all of the goals you are trying to accomplish with your life insurance plan.
For example, do you want to provide money to pay off a mortgage, replace your income, provide for your child’s college education, etc.?
Then, consider how long the longest goal will take to accomplish – for example, protecting your 30-year mortgage.
This will help you decide how long your term life coverage should last.
If your longest goal is protecting a 30-year mortgage loan, then you need a 30 year term life insurance policy.
Also, some term insurance plans allow you to convert your term life coverage into a permanent life insurance policy if your life insurance needs should change in the future.
You request this change by contacting the insurance company and they will let you know the increase in your premium to convert your coverage from term to permanent life insurance, should you decide to do so.
Can I Buy Term Life Insurance Online?
Yes, you can compare pricing, apply online and complete the entire process of purchasing your term policy over the internet – safely and securely.
Can I Buy Term Insurance without any Health Exam?
Yes, there are life insurance carriers that offer no exam life insurance you can purchase online.
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