Buy term life insurance online
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Term life insurance provides a cost-effective solution to your temporary life insurance needs and gives you the flexibility to change your policy should your temporary needs turn into permanent goals.
Term life insurance is right for you if you want an affordable way to get maximum coverage. It is very effective in covering specific financial responsibilities like a mortgage or college expenses. Term life insurance can also be an excellent supplement to your permanent life insurance during periods when coverage needs are higher, such as family-growing, mortgage-paying years.
Term life insurance is exactly as the name implies – a life insurance policy that provides death protection for a stated time period, or term. Term life can be constructed for varying lengths ranging typically from 10 years to 30 years. One of the reasons term life is so popular is that it can be purchased in large amounts for a relatively small premium.
Term life is different from traditional whole life insurance in several ways. These features of term life make it attractive to those with shorter-range life insurance goals to consider. Here are a few characteristics of term life that you should know before buying:
• Guaranteed level term premiums that can remain the same over the duration of the term. This assists with budgeting.
• Convertibility. Policies can be convertible from term to permanent policy up to age 75 (or higher) in most states.
• Renewability. The policyholder can continue coverage (without proof of good health) past the original coverage period of the policy with a premium increase.
• Accelerated Death Benefits. you can purchase a rider that allows you to collect a portion of your benefits while still alive if you are diagnosed with a terminal illness.
• Disability Waiver of Premium. This rider waives premiums when you suffer a disability lasting six months or longer.
• Accidental Death Benefits. You can purchase a rider that doubles or triples your benefit in the case of death by accidental means–so your benefit can increase when you are younger and more likely to die in an accident than from illness.
• Convertibility. Policies can be convertible from term to permanent policy up to age 75 (or higher) in most states.
• Renewability. The policyholder can continue coverage (without proof of good health) past the original coverage period of the policy with a premium increase.
• Accelerated Death Benefits. you can purchase a rider that allows you to collect a portion of your benefits while still alive if you are diagnosed with a terminal illness.
• Disability Waiver of Premium. This rider waives premiums when you suffer a disability lasting six months or longer.
• Accidental Death Benefits. You can purchase a rider that doubles or triples your benefit in the case of death by accidental means–so your benefit can increase when you are younger and more likely to die in an accident than from illness.
Term life is a shorter-term solution that can be terminated when the need for it is over and can be increased when the need for it is greater.
Buy term life insurance online
Typically, term life insurance is purchased when lifestyle changes prompt clients to consider purchasing term life insurance:
• Making Significant Purchases. Buying a new home, new vehicle, or other “major” purchases that would leave your heirs in a bind should you pass away. These purchases should prompt a review of your insurance situation.
• Extra Protection for child-rearing years. Adding coverage is appropriate for parents on a tight budget who require solid protection for their children.
• Covering College Tuition. With the cost of four years of college at 30,000 or more, term life can ensure that your children can attend and finish school.
• Extra Protection for child-rearing years. Adding coverage is appropriate for parents on a tight budget who require solid protection for their children.
• Covering College Tuition. With the cost of four years of college at 30,000 or more, term life can ensure that your children can attend and finish school.
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