Affordable Life Insurance Protection for Your Family
Do You Want To Buy Term Life Insurance for Your Family?
If so, you’ll want to learn about term insurance and find out how it works, and how it can benefit your family members.
Term life insurance is temporary coverage to provide financial security for your loved ones should you pass away.
Term insurance offers the most affordable life insurance protection, lasting for a period of up to thirty years.
You can purchase term life coverage on yourself, your spouse or partner, and on your children.
You may be able to add coverage for your children to your own term policy, through the process of adding a rider for child coverage, for which you pay an additional premium.
What Is Term Insurance?
A term insurance policy is a type of life insurance plan that provides temporary coverage for a specific duration, usually lasting up to thirty years.
How Does Term Insurance Work?
Term life insurance provides you with temporary life insurance for a specific number of years. You can choose coverage for a "Policy Term" (duration) of 10, 15, 20, 25 or 30 years.
Term life builds NO cash value inside the policy, it is not an investment, it is "Pure Death Benefit Protection". That’s why it usually costs 5 to 10 times less than permanent life insurance.
Term insurance is the lowest cost type of life insurance available.
Term life lasts for a set period of time, usually up to 30 years.
Term policies pay the beneficiary the face amount of the insurance policy, if the insured person dies during the term of the policy.
For Example, a 20-year term life policy with a face amount of $500,000 would pay $500,000 to your beneficiary if you die any time during those 20 years.
If you're alive at the end of the policy term, the insurance coverage ends.
How Long Does Term Insurance Provide Protection?
Term life offers the option of choosing coverage that will last for a period of 10, 15, 20, 25, or 30 years.
However, the maximum duration available may be limited based on your current age and health.
How Much Does Term Insurance Cost?
The Premium charged for a term policy is developed based on multiplying your Rate per $1,000 of life insurance by the total amount of coverage you need.
So, if your Rate is $5 per thousand and you need $100,000 of life insurance, the Premium charged would be $5 X $100 = $500 premium each year for your life insurance coverage.
The Rate is developed by taking into consideration several risk factors, including but not limited to your age, gender, tobacco use, health, family health history, driving record, hobbies, occupation, etc.
Basically, the younger and healthier you are when you buy life insurance, the lower your rate for coverage.
How to Compare Pricing on Term Insurance?
It’s simple to shop for term life policies online.
You just visit a life insurance website, fill out a Quote Request Form, and click on a button to instantly see the lowest pricing available from several of the leading life insurance carriers in America.
Do You Need to Take a Physical Exam to Buy Term Insurance?
It depends on your age and health.
However, most healthy individuals between the ages of 20 to 60 years old will be able to purchase a term life insurance policy without having to take any physical examination.
Keep in mind, no exam term life policies may charge a slightly higher premium than you would pay for life insurance that does require a full physical exam.
Learn more about how to buy term life insurance with no physical exam.
Can You Buy Term Insurance Today?
If you are healthy and between the ages of 20 to 60 years old, you may be able to purchase a term insurance policy direct online, and begin your coverage today, if you qualify.
Learn more about how to buy life insurance today.
Term Life Insurance Quotes
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