Affordable Life Insurance Protection for Your Family
Learn about Affordable Short Term Insurance
Are you shopping for an affordable term life insurance policy?
If so, you’ve come to the right place. Today it’s quicker and easier to compare pricing on life insurance plans over the internet. And, prices are lower than you might expect.
Most people over-estimate the cost of a life insurance policy by up to 200% or more.
When in fact, you may be able to purchase the coverage you need for less than the cost of a cup of coffee per day.
How Does a Term Insurance Policy Work?
Temporary life insurance offers coverage for a specific duration, usually from ten to thirty years.
What Types of Term Insurance are Available?
Term life comes in a few different forms, including level term, decreasing term and return of premium term life policies.
Level Term – Offers coverage for a period for 10, 15, 20, 25 or 30 years. Each year of coverage your premiums remain the same.
Decreasing Term – Offers coverage for a period of 10, 15, 20 or 30 years with premiums that remain the same each year, but the amount of life insurance provided by your policy declines each year you are insured.
Return Premium Term Insurance – Offers coverage for up to 30 years with level premiums and coverage amount. The premiums are higher than for level term, because if you outlive the duration of your policy, you get back all of the premiums you paid.
What Factors Will Impact the Cost of a Term Insurance Policy?
When determining the price charged for a term insurance policy the insurance company’s consider several main factors including your age, gender, health, amount of coverage and length of your coverage term.
In addition, several personal factors that affect your life expectancy are considered including your lifestyle, driving record, hobbies, occupation, tobacco use and height-to-weight ratio, among other things.
Term Life Insurance Pricing
When shopping for coverage make sure you compare rates from several insurers to make sure you get the best deal on your policy.
Each carrier has their own set of rates they apply to specific consumers based on your personal risk factors, as well as, the insurer’s loss experience for specific groups of insured’s – such as, diabetics, seniors, smokers or married people.
How Much Does Term Life Insurance Coverage Cost?
To find out how much your term insurance policy will cost you can request and compare pricing for term insurance from several insurers at once.
Apply for Term Insurance Online
If you would like to apply for coverage today you may qualify to start your policy today, instead of waiting up to 6-8 weeks for a policy. In fact, one insurer (rated A++) offers up to $1,000,000 of affordable term life coverage you can start immediately, if you qualify.
Term vs Permanent
Term life is meant for people who need coverage for 30 years or less or need the most protection at the lowest cost.
Permanent insurance provides guaranteed lifetime coverage for as long as you live with level premiums, and may build some cash value inside your policy.
Learn more about term life vs permanent life insurance.
How Much Term Life Insurance to Buy?
Before choosing your plan make sure to consider how much insurance you need to adequately protect your family, including replacing your income, paying off debt, paying for your child’s education and maintaining your family’s lifestyle.
Can I Buy Term Life Insurance with No Exam?
Yes, if you are healthy you will likely qualify for a term life policy that does not require any physical examination. Keep in mind, when you apply for a no exam plan you will need to answer some questions about your health and lifestyle.
There are several carriers that offer life insurance without exams, providing from $50,000 up to as much as $1,000,000 of coverage. And, you may be able to purchase insurance form more than one life insurance provider.
Can You Renew Your Policy?
If you aren’t quite sure how long to get term insurance, or your needs may change in the future, you’ll want to make sure you have a renewable term life policy, providing you the option to renew your coverage (for up to 10 years) when your term policy expires.
Can You Convert Your Policy?
Another consideration is converting your term insurance to permanent lifetime life insurance protection. You may decide in the future that you need lifetime coverage, and if so, the conversion privilege in a term life policy will allow you to convert your term insurance into permanent insurance by a date specified in your life insurance contract.
Do You Want Money Back Coverage?
If you feel life insurance is a waste of money if you don’t die and there is no payout on your policy, then maybe return of premium term insurance is an option for you to consider.
With return premium policies, if you outlive the duration of your term, then the insurer pays you back all of the premiums you paid for your life insurance policy. However, premiums are higher compared to regular term life plans.
What Is the Right Term to Meet Your Needs?
How long will you need life insurance protection? Make sure you select the right term for your policy that meets the length of time you need protection. You can choose term life for a duration of 10, 15, 20, 25 or 30 years from most carriers.
Term Life Insurance Quotes
Top Pick – JRC Insurance Group
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Term Life Insurance Resources
Insurance Needs Calculator – Calculate how much life insurance coverage to buy.
Term Life Insurance FAQs – Answers to common questions about term insurance.