What you need to know before purchasing Term Life Insurance
Term Life insurance is an easy and affordable option for owning Life Insurance. Term offers a level coverage amount at a set cost for a specific time.
For Example:
Sally can get $500,000 of life insurance for 20 years at $42.23 a month. So she knows her family is protected and her rates won’t go up.
Types of Term Life Insurance
Term insurance typically comes in:
- Term 10
- Term 20
- Term 30
- Level to 75 (or 65)
- Term 100.
Term insurance is the most affordable coverage options.
For example:
If Raj owns a Term 30 policy he knows the amount of coverage and his cost to own the coverage will not change for 30 years. At the end of 30 years, his rates will renew based on his new age. Thus making his coverage more costly.
If you are a couple in your 30’s looking for affordable life insurance Term 30 could be the perfect fit to protect your family.
Who Has The Best Term Coverage
When buying term insurance there are always a few factors that come in to play to which company has the best term insurance.
- Your age
- The Coverage amount
- The length of coverage
- Health
- If you want a policy that can be converted into a Permanent Insurance coverage
In short, no one carrier is the best. It becomes dependent on your own situation. But CLICK HERE for you free quote today!