Affordable Life Insurance Protection for Your Family
How to Buy an Online Term Insurance Plan Today
If you’re looking to purchase instant life insurance protection it may be much easier than you might have expected.
In fact, qualified applicants in good or average health may start their term life plan today.
There’s even one highly-rated insurance company that offers up to $2,000,000 of instant issue term insurance for people between the ages of 20 to 60.
However, before you choose a plan, you’ll want to consider a few things first:
Budget for Life Insurance
If you can’t afford the policy, it makes no sense struggling to pay the premiums. Consider an amount of insurance you can afford to buy.
Make sure it won’t stretch your budget too much, in case your finances change, you’ll want to keep your life insurance protection In Force for your family. Get a free term life insurance quote.
Amount of Insurance Coverage
Make sure you consider your annual income, debt, savings, monthly living expenses, and future financial goals for your loved ones, when determining how much life insurance to purchase.
We recommend you use a life insurance needs calculator to assist you in deciding how much protection you really need.
Duration of Life Insurance Protection
How long do you need your term life insurance to last? That will depend on your goals – what do you want your life insurance to accomplish and how long will that take?
For example, some people want their life insurance plan to last until their youngest child is out of the house and has a job.
So, if your youngest child is 3, you may want term life coverage to last for at least 20 years, until your youngest is 23 and out of the house.
Instant Term Insurance Policies
What is Instant Term Life Insurance Coverage?
It’s a type of temporary life insurance that begins providing you with insurance as soon as you are approved and have paid the first month’s premium.
Term life is temporary life insurance lasting for a specific period of time.
Most term life plans offer coverage with a term of 10, 15, 20, 25 or 30 years in duration.
The longer your policy term, the higher your annual cost of life insurance.
How to Get Online Term Life Protection
The process is simple compared to standard life insurance policies which require you to meet with an agent, get a physical, what for the labs results, have your policy underwritten, and find out if you are approved for coverage – which usually takes up to 4-6 weeks.
However, buying instant term life insurance is a whole other process – much easier.
You visit a life insurance website, fill out a quote request form, see your prices offered, apply for your life insurance policy, and find out if you are approved for coverage – all in as little as 30 minutes or less with some insurers.
Others will notify you the same day to let you know if you are accepted for coverage.
Common Features of Online Term Life Policies
What is Term Insurance?
It’s a type of life insurance plan that provides temporary coverage lasting for a specific period of time, usually up to 30 years.
However, most life insurers offer term options of 10, 15, 20, 25 or 30 years to meet your family’s specific life insurance needs.
What are the Benefits of Term Insurance?
There are several benefits of owning a term life insurance policy, including:
What Life Insurance Companies Offer Instant Term Life Plans?
There are several life insurance carriers offering quick issue term life policies, including Haven Life, Fidelity Life and Globe Life, among others.
Keep in mind, you may purchase a term life policy online from more than one life insurance carrier, depending on your needs and budget.
Why Buy Term Insurance?
A term plan helps you prepare for such uncertainties. One of the most cost-effective methods by which to mitigate risk, term insurance is popular primarily because it asks for low premiums yet the family of the deceased gets the entire amount of life insurance death benefit.
Does a Term Life Insurance Premium Increase as You Age?
The age at which life insurance premiums increase, if they increase, depends on the type of life insurance policy you have.
If you have term life insurance, premiums will go up when the guaranteed period ends.
A level term life policy will have guaranteed level rates for the duration of your policy term – either 10, 15, 20, 25 or 30 years.
What are the Age Limits for Term insurance?
The age limit for buying term insurance is usually around 70 years old; however, there are some insurers that issue term insurance till the age of 75 or 80.
The maximum duration of term offered will be limited based on your age when you purchase a policy.
For example, the longest policy term offered to 70 year olds may be 10 years, but a 60 year old may be able to buy a 15 or 20 year term policy.
Why Buy Term Insurance Online?
Buying online not only gives you convenience and speed in purchasing your life insurance protection, but it also offers the cheapest term insurance plans.
In some cases, shopping online for term insurance policies may save you up to 40% or more on your term life coverage.
Factors to Consider When Comparing Term Life Plans and Insurers
How Can I Save Money on My Term Insurance Policy?
When it comes to saving money on your life insurance coverage, there are several tips you can use to assist you in lowering the overall cost of a policy, including the following:
Term 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.
Highly Recommended – Haven Life
Haven Life uses the information provided in your application to make an instant decision on your application. Healthy, qualified applicants (based on the information provided in your life insurance application) can be insured immediately with no medical exam while other applicants can receive immediate coverage pending a medical exam.
Applicants age 60-64 are eligible to apply for up to $1 million in coverage; subject to underwriting approval.
Some qualified applicants (U.S. citizens up to the age of 59) will be able to finalize coverage without the need for a medical exam. The majority of applicants are still required to take a medical exam.
Keep in mind: Issuance of the policy or payment of benefits may depend upon the answers given in the application and the truthfulness thereof.