Affordable Life Insurance Protection for Your Family
This is the place where you'll get up-to-date information on Term life online insurance, including money-saving tips, articles, company reviews and resources to help you learn about term life insurance.
If you have a grandmother who is on a fixed monthly income you may be wondering if she has enough money saved to help pay for her final expenses.
And, you may also ask yourself if you can buy life insurance for your grandma?
The answer is "YES", you can.
Many adult grandchildren buy life insurance policies for their grandparents to make sure there is no financial stress in paying for their grandmother or grandfather’s funeral, burial and other end of life expenses.
No, you cannot increase the amount of life insurance provided by your existing term life insurance policy.
However, if you need more coverage, you may be able to purchase another life insurance policy to increase the overall amount of life insurance protection you own.
In addition, term life insurance policies usually offer the option to renew coverage, in case you need your current term life insurance to last longer than you expected when you bought your policy.
Is there term life insurance available for senior citizens?
Yes, seniors may be able to purchase term life insurance coverage.
However, keep in mind that term life is temporary life insurance lasting for a specific number of years.
If you outlive the duration of your term life policy, your life insurance coverage ends.
And, the maximum duration of term life for seniors may be limited to 5, 10, 15, or 20 years, depending on your age and health.
You can shop and compare free price quotes for senior term life insurance online by visiting a life insurance website and filling out a Quote Request Form, then clicking on a button, to instantly see the lowest prices available from several leading life insurance carriers.
Can seniors get burial insurance coverage?
Yes, in fact, seniors can purchase up to $25,000 of guaranteed issue burial life insurance coverage even if they have been turned down for life insurance by other insurance companies.
Usually, the average cost of a burial and funeral expenses is around $8,700 according to surveys of funeral expenses in the U.S.A.
However, the amount spent on your burial and funeral expenses will depend on the cost of such things as your burial plot, headstone, casket, memorial service, flowers, embalming, etc.
There are burial expense policies available with guaranteed approval for people ages 45 to 85 years old.
That means, no matter what pre-existing condition you may have, you can get insured for burial coverage, if you meet the age requirements for approval.
It depends on the type of life insurance policy.
Annual renewable term life insurance policies increase their premium each year that you renew your annual coverage.
However, level term life insurance has level premiums that stay the same each year for the entire duration of the policy term, either 10, 15, 20, 25, 30, 35 or 40 years.
With level term, the amount of life insurance provided by the policy also remains the same for the life of the term policy.
A term life insurance policy is life insurance that provides temporary coverage for a certain period of time.
Term life insurance, also known as pure life insurance or pure protection, is a type of life insurance that guarantees payment of a stated death benefit if the insured person dies during a specified timeframe, also known as the policy term, which is the duration of time the life insurance policy provides protection.
The cheapest type of life insurance policy is term life insurance because it provides temporary protection for s specific number of years.
The shortest duration of term coverage would be the cheapest.
Level term life insurance offers the most affordable coverage for a duration lasting between 10 and 30 years.
The younger and healthier you are when you buy a term life insurance policy, the lower your annual cost of coverage.
The shorter your policy duration (term), the lower your cost.
And, the lower the amount of life insurance provided by your policy, the lower your cost of coverage.
Can I compare both term life quotes and whole life insurance quotes online?
Yes. You can visit a life insurance website online, fill out a quote request form, and instantly see the lowest prices available for either term life insurance or whole life insurance policies.
It's quick and easy to compare free life insurance quotes online.
And, there's no obligation to buy, and no cost to compare pricing on life insurance plans.
Keep in mind, whole life insurance costs more because it provides lifetime coverage, while term life insurance provides temporary coverage for a period of 30 years or less, usually.
The shorter your policy term for term life insurance, the lower your annual cost of coverage.
With term life, you may be able to choose a policy term (duration) of 10, 15, 20, 25, 30, 35 or 40 years.
What is the best type of life insurance to purchase to cover your burial expenses?
Permanent life insurance policies offer guaranteed lifetime protection as long as you pay your premiums on time.
In addition, there are guaranteed issue permanent life insurance plans available bye that offer guaranteed approval for people ages 45 to 85 years old. That means, even if you have serious health issues, you can still get insured.
Guaranteed issue plans may offer up to $25,000 of coverage, which is more than needed to cover the cost of your burial expenses.
A top 10 life insurance company is a life insurer that is rated in the top ten of all life insurance carriers in America.
There are many factors to consider in determining the best of leading life insurers, including the number of years in business, quality of customer service, total assets, financial strength, claims paying ability, etc.
However, when you take into account the leading factors for comparing life insurance companies, the following are usually among the best, including:
1. Northwestern Mutual
3. New York Life
5. Mass Mutual
The rankings may vary by year, but these are usually some of the top insurers for life insurance in the U.S.A.