Term Life Insurance FAQ

Frequently Asked Questions and Answers

• What is Term Life Insurance?
  
  Life insurance where the death benefit is paid only if the insured dies during a specified period of time. Learn about how term life insurance works.

• How Much Life Insurance Do I Need?
  
  Use our term life insurance calculator to help you quickly and easily decide how much life insurance you need.

• How much does life insurance cost?
  
  Request your free term life insurance quotes from top-rated insurers offering you savings up to 75%.

• What is the difference between Term Life and Whole Life Insurance?
  
  To find out, read this helpful article explaining the pros and cons of term life insurance vs permanent life insurance.

• What types of term life insurance policies are available?
  
  There are many types of term life insurance policies, including Level Term Life Insurance, Decreasing term life insurance, Annual Renewable Term Life Insurance, and Term Life Insurance No Exam. To learn more visit Types of Term Life Insurance.

  You can also learn about Child life insurance, Burial Insurance, and Guaranteed Acceptance Life Insurance.

• Will I need to take a medical exam when I apply for life insurance?
  
  Most insurers will require you to take a medical exam. This depends on your age, health and the amount of life insurance protection you are applying for. Click here for Life Insurance with No Medical Exam - Just a few health questions.

• How can I save money on my life insurance?
  
  By comparing life insurance quotes from several life insurance companies online you may be able to save up to 75% on your policy, because rates can vary quite a bit between insurers.

• I bought life insurance last week, and now I’ve decided I do not want it. What can I do?
  
  All life insurance policies come with a "Free Look" period. In most cases the free look period is for 30 days. You can contact the insurance company in writing and notify them that you want to cancel your policy. They should return all of the premiums you have paid. Review the cancellation clause and Free Look period clause in your life insurance policy for the right course of action to take. Or, contact your life insurance company by phone for instructions.

• Can I cover my children under my life insurance policy?
  
  Many life insurance policies come with a "Childrens Term Life Insurance Rider". This allows you to add coverage for your children on your policy. Or, you could purchase life insurance for children.

• Will the annual premium I pay for term life insurance change during the policy term?
  
  It depends on the type of term life policy you choose. If you choose 20 year level term, for example, your premiums will remain the same for 20 years.

• If I have term life insurance and don’t die within the term, will I get a refund of the premium?
  
  Yes. There are Return of Premium Life Insurance policies that do return the premium. These policies usually charge premiums up to 40% higher (or more) for the same amount of term life coverage.

• Does life insurance pay benefits for any type of death?
  
  No. Usually suicide is not covered by your policy if it occurs within 2 years of policy inception. In some states this requirement may only be one year.

• If I have an existing medical condition, will I be able to get life insurance?
  
  Yes. Some life insurance companies specialize in finding coverage for people with existing medical conditions. It’s best to request quotes from a few quote providers, though, because your rates may vary dramatically from one insurer to another. If you are unable to get accepted, you may want to consider Guaranteed Acceptance Life Insurance.

• What is an Accelerated Death Benefit?
  
  Learn how you may benefit from having an Accelerated Death Benefit on your life insurance policy.

• Who can you insure for life insurance?
  
  Learn who you may be able to insure for life insurance - click here.

To Compare Term Life Insurance Quotes and Plans

We’ve partnered with Efinancial to give you free life insurance quotes from over 100 top-rated companies. Just answer some simple questions and get the 12 lowest quotes within 10 seconds.

Your quotes will provide you with the coverage amount, the premium, the number of years the policy lasts, and the financial ratings for each company which is provided by A.M. Best rating service.

You will have everything you need to help you choose the right plan to protect your family. You can choose the quote and company you like and apply online with no obligation. Secure your family's financial future today with quality, affordable term life insurance. Get your Free Term Life Insurance Quotes now.