In general when you’re making a purchase, the more bells and whistles you want, the more it’s going to cost you. And that’s true of term insurance rates as well. The most simple and straightforward type of life insurance is term life insurance policy.
Term life is life insurance at its purest and least expensive at least initially. You get a policy with a coverage period that ranges from 1 – 30 years, and a very low initial cost. There’s no cash value build-up with a term life policy because you’re paying only for the death benefit, which is the amount of money the policy will pay in the event of your death.
When money is an issue – like when you’re young, or starting a family, or just plain have a tight budget for a while – term life lets you buy a lot of insurance for very little money or with most affordable term life rates. That’s important because for a while you might need a lot more insurance than you are able to pay for with other types of policies. Term life is also a great solution when you need coverage, but only for a certain period of time. Many people buy term insurance to cover a mortgage loan, for example, or while there children are approaching or in their college years.
Simple term life insurance protection can come with some bells and whistles, too, and make it an even more attractive option for your financial needs. One example is the relatively new “Return of Premium (ROP) or Money Back” feature, which results in your getting back your premiums if you’re still alive at the end of the coverage period. Another is the “Convertibility” feature. As you age, the cost of buying insurance goes up. A term policy that is convertible lets you exchange your term policy at some point in the future for a permanent policy – at the same health class when you first bought the term policy! That can result in a much lower premium and big savings for you. Please call one of our life insurance specialists at (866) 972-3262 to determine the right kind of life insurance for you and for your family’s financial security & to find the best, cheap and most affordable term life rates or please complete term life rates request form now.
