Affordable Life Insurance Protection for Your Family
What is Long Term Life Insurance Coverage?
If you are shopping for life insurance, you may be considering life insurance providing long term protection.
Long term life is a type of temporary insurance for an extended number of years. You are covered for the specific period of time stated in your policy.
For example, if you purchase a 30-year term life policy you have coverage for 30 years. If you should die during those thirty years, your insurance company would pay out a death benefit on your policy to the person or persons you choose as beneficiary of your insurance.
The death benefit is the amount if life insurance you purchase on your policy. The proceeds (death benefit) from a life insurance plan are usually paid out free from federal income tax.
Your beneficiary can use the proceeds from your insurance for anything they choose – they can spend the money as they see fit.
How Long Does Long Term Life Insurance Coverage Last?
You have several options for the duration of your term life policy. Most insurers offer life insurance for a "term" (duration) of 10 to 30 years.
Longer term plans are usually for a period of 20, 25, 30, 35 or 40 years.
Keep in mind, the longer your "term" for coverage, the higher your annual cost of life insurance, because the odds are greater you may die during the longer term of your policy, and a death benefit would be paid out by the insurance carrier.
What is the Longest Term Available?
There are some carriers that offer up to 35 or 40 years of term insurance protection.
35 Year Term Life Insurance Companies:
40 Year Term Life Insurance Companies:
Is a Physical Examination Required?
Yes, there is usually a "paramedical health examination" required by the life insurer when buying a longer-term life policy. The medical exam is paid for by the insurance company.
However, there are some insurers willing to offer life insurance with no medical exam required for a term of up to 20 years or longer, depending on your age, health, and the insurance company requirements.
Long-Term Life Insurance for Seniors
Can Senior Qualify to Buy Long-Term Life Insurance?
Yes, they can. In fact, there are guaranteed approval life insurance policies available for seniors age 45 to 85. You cannot be turned down and they provide you with permanent lifetime protection as long as your insurance premiums are paid on time. There’s no physical exam needed and no health questions asked. You cannot be turned down. Get a Free Quote.
Many people choose to purchase long term insurance policies for life insurance to protect their longer term financial responsibilities, including their home mortgage loan, child’s college education, or providing financial security for their spouse or life partner, among other things.
Long Term Life Insurance Quotes
Top Pick – JRC Insurance Group
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