Term Life Insurance Premium Quote
How to Get a Term Life Insurance Premium Quote
How can you find low cost rate quotes for term life insurance?
Actually, it may be easier than you expected. Now, you can shop and compare life insurance rates online from multiple insurance companies in a matter of minutes.
How? You just need to know where to look. With so many life insurance websites, which one can help you save time and money on you life insurance shopping?
WholesaleInsurance has a network of more than 40 leading life insurers to help you compare easy, instant life insurance quotes online with no obligation and no sales pressure.
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How Term Life Insurance Works
Term life insurance offers life insurance protection for a specific number of years. It builds no cash value, you pay only for the life insurance. That's why term life insurance is less expensive than permanent life insurance. So you can afford more protection for your loved ones.
- Term life insurance lasts for a specific number of years, from 1-30 years. The most common term is 10, 15, 20 or 30 years.
- Term life insurance policies pay the beneficiary the face amount of the life insurance policy if the insured person dies during the term of the policy. For example, a 15-year term life policy with a face amount of $250,000 would pay $250,000 to the beneficiary if the insured died any time during those 15 years.
- Usually, term life costs less than permanent life insurance.
- At the end of the policy term, the insured is no longer insured, and a death benefit is no longer paid. Some term life insurance policies are renewable, or can be converted to permanent life insurance.
Get your free term life insurance quotes - You will be asked to fill out one form which takes about a minute, then you will receive the best quotes for term life insurance from 40 leading life insurance companies.
Term Life Insurance Has Three Standard Features
Usually, the annual premium for the policy paid by the insured stays the same each year. The face amount of coverage also stays the same. Level term life insurance policies can usually last up to 30 years.
Before the end of the term for your policy, the life insurance policy owner (you) may be able to convert the term life insurance policy into a permanent life insurance policy. The owner usually has a specific number of years during the term life insurance policy to convert the policy. The premiums usually increase for the permanent life insurance.
Term life insurance policies that are renewable offer the owner of the policy the option of renewing the life insurance policy at the end of the policy term, up to a specific age limit (usually age 65 or 70).
For example, a 15 year policy may be renewed for another 15 years. If the policy is renewed, a medical exam may be required. The term life insurance premium will usually increase when the policy is renewed.
Term Life Insurance Premium Quotes
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