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 work and have life insurance through your employer you may be wondering about the difference between regular term life insurance and group term life insurance protection.
A regular term life insurance policy is individual coverage that insures one person and the owner of the policy continues the coverage as long as he or she continues to pay the premium for the duration of the policy term.
Whereas, a group term life insurance policy insures a group of people who work for the same employer.
Group coverage for life insurance is provided by a certificate that covers a group for one year at a time, and the certificate of coverage may be renewed each year.
Individual term life insurance provides coverage usually for a duration of 10, 15, 20, 25 or 30 years.
With group term life insurance, if you leave your employer, your coverage usually does not follow you.
Whereas, an individual term life policy continues coverage for the life (policy term) of your term life insurance plan.
So, even if you get fired or leave your job, you continue to have your individual term life coverage.
How can I get affordable senior life insurance without taking an exam?
There are guaranteed issue life insurance policies available for people ages 45 to 85 years old.
With guaranteed issue plans you won't have to answer any questions about your health or take an exam.
Several insurers now offer guaranteed approval life insurance policies, including one highly-rated insurer that offers plans starting from just $8.80 per month.
What are the advantages of whole life insurance and term life insurance?
Whole life insurance offers the advantages of providing lifetime protection and guaranteed level premiums for the life of your policy.
In addition, whole life builds cash value from which you may take a loan in the future.
Whereas, term life insurance is the easiest life insurance to understand, and offers by far the lowest premiums for your coverage.
That means, you can afford a lot more life insurance protection to fit your budget.
And, you are only paying for pure life insurance protection, there is only a death benefit, and no cash value with term life.
Whole life insurance can cost up to 5 to 10 times more for the same amount of life insurance protection, as term life insurance.
Can I buy death insurance for my home?
Yes, it's called mortgage life insurance and it pays out a death benefit to your beneficiary upon your death.
The beneficiary can use the money to pay off the remaining balance owed on your home mortgage loan.
Usually, mortgage life insurance plans are term life insurance lasting for the duration of your mortgage loan.
So, if you have a 30 year mortgage, you would purchase a 30 year term life policy, with an amount of life insurance equal to the amount you currently owe on your home mortgage loan.
Can I buy a life insurance policy without taking a health examination?
Yes. If you are healthy, you may qualify to purchase no exam life insurance coverage.
In fact, some insurers now allow consumers to apply directly online for their life insurance, and find out within minutes if they qualify for coverage.
If approved, you may be able to begin your life insurance policy the same day.
Some of these plans are available for healthy individuals between the ages of 20 to 60.
In addition, there are guaranteed issue life insurance policies with no exams, for people between the ages of 45 to 85.
Level term life insurance is a type of term life policy that offers competitive pricing with rates guaranteed remain level for the entire duration of your life insurance policy.
In addition, the amount of life insurance provided by your level term policy remains level for the entire policy term.
Level term life is the most popular type of term plan and offers the lowest rates for life insurance coverage.
These level term plans provide coverage for a duration of 10, 15, 20, 25 or 30 years.
Is there term life insurance available for senior citizens with no health exam needed?
Yes. In fact, Globe Life offers senior life insurance plans with no exam.
Globe senior life insurance offers up to $50,000 of term life insurance for seniors without a health exam.
You can request a free quote and apply online for your life insurance policy in a matter of minutes.
Is there any life insurance plan that is available immediately?
Yes. There are instant-issue life insurance policies offered online which allow you to apply for coverage in minutes and find out if you are approved in as little as 15 minutes.
If approved, you may start your life insurance policy right away by paying your first month's premium.
Most plans are available for healthy individuals between the age of 20 to 60.
And, there's a Free Look period of between 15 days to 30 days, usually - it varies by state of residence and insurer. You can return your policy within this period for a full refund of premiums paid, if you change your mind.
Yes, parents may purchase life insurance on an older child.
As parents, they have an insurable interest in their children, which is required in order to buy life insurance on someone else.
However, when a child reaches adulthood, the insurer may require the signature of the adult child on the application for life insurance, in order for the parent to buy life insurance on the adult child.
Many parents buy life insurance on their adult children to guarantee the payoff of a college loan, home loan, auto loan, or to provide protection for grandchildren because the adult child cannot afford life insurance.
Can I buy short term life insurance online?
Yes. There are many insurers that now offer the option for consumers to purchase their coverage online direct from the insurance carrier.
Short term life insurance offers you the option to choose coverage lasting for a duration of 5, 10, 15, 20, 25 or 30 years of protection.
And, you may apply on-line and begin your short term policy today, if you qualify for no exam term life coverage.