Why Should I Choose to Buy Term Life Insurance?

Term life insurance is the easiest life insurance to understand and offers the lowest prices for life insurance.

Term life insurance provides straightforward death benefit protection.

Your term life insurance policy will offer level premiums each year you are insured for your choice of 10, 15, 25 or 30 years during which the premiums are guaranteed not to increase.

As long as you pay your life insurance premiums on time, your insurance company cannot cancel your policy.

If the insured dies during the term of his or her life insurance policy, the death benefits are paid to the beneficiary without any complicated process or rules.

It doesn't get any easier than a term life insurance policy, plus it's the most affordable type of life insurance coverage you can buy.

Here's how you can request and compare instant term life insurance price quotes.

Do Life Insurance Companies Have a Money Back Guarantee?

Yes, life insurance companies will refund any premium deposit you make on a new life insurance policy if you change your mind while your application for life insurance is pending - meaning your policy has not been issued yet.

Also, after you receive your life insurance policy you can have a full refund of any premium paid under a 10 day free look period (which may be longer in some states).

If, for any reason, you decide to cancel your life insurance policy after you paid for the policy, you can do that without any questions asked within 10 days after you have received your insurance policy.

The length of time for a money back guarantee may differ based on the regulations of the state in which you live and applied for life insurance, but 10 days is the most common free look period for life insurance.

Here's how you can compare instant life insurance quotes from top carriers.

Will My Life Insurance Premiums Increase Over the Term of My Policy?

Your life insurance premiums are fixed for the duration of the term and guaranteed not to increase during that period, even if your health changes.

So, if you purchase 15 year level term life insurance policy with annual premiums of $300, you would pay $300 once per year for 15 years to maintain your life insurance protection.

Level term life policies mean you have level premiums and a level amount of life insurance protection for the entire duration of your term.

You may be able to choose coverage for a term of 5, 10, 15, 20, 25 or 30 years when purchasing term life insurance.

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How much does term insurance cost?

The cost of a term insurance policy is based on your gender, age, tobacco use, health status and the amount of life insurance coverage you choose.

Try our easy-to-use Needs Assessment Tool to estimate how much coverage you may need before comparing life insurance prices.

Usually, the younger you are when you apply for life insurance, the lower your premium will be so consider locking in a lower rate when you’re younger and healthier, instead of waiting. Studies indicate pricing for life insurance is much lower than most people anticipate.

Compare instant life insurance rate quotes from 40 of the leading life insurance carriers to find out how much term insurance costs.

Beneficiaries for Smoker Life Insurance Policies?

Do beneficiaries who are smokers increase the premiums for a non smoker life insurance policy owner?

No, they do not increase premiums for the policy owner.

The owner of a life insurance policy is the one who has the rights that are stipulated in the life insurance contract. These include the right to name a beneficiary of the life insurance policy.

The person insured by the policy, who is often the owner of the life insurance policy, is the person whose death causes the life insurance carrier to pay out the death claim to the beneficiary of the life insurance policy. The beneficiary can be a person, trust, estate or business.

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What Types of No Exam Life Insurance Policies are Available?

I want to purchase life insurance but I don't want to take any health examination. What types of plans are there to choose from for no exam coverage?

There are a few different types of no exam life insurance policies available, including the following:

Simplified Issue term life insurance usually offers up to $400,000 or less of term life coverage for a period of 10, 15 or 20 years of protection. You may be able to apply for a policy online and start your coverage within 1 to 2 days. There's no health sam but there are some health questions for you to answer, and people age 20 to 65 may qualify for a policy.

Accidental death life insurance covers death by accident only and may offer as much as $1,000,000 of coverage with no exams and no health questions asked.

Guaranteed acceptance life insurance may offer up to $25,000 of coverage with no exams and no health questions asked, and some plans offer guaranteed approval for people age 45 to 85, which means you cannot be turned down due to any health problems.

Here's how you can learn more about no exam life insurance policies.

What is a Waiver of Premium for Life Insurance?

If you are buying a life insurance policy you may want to consider adding a waiver of premium to your life insurance plan.

Why? Because, if you become disabled (ill or injured), your life insurance company will pay your life insurance premiums so you can continue your life insurance policy.

However, there is usually a waiting period for the premiums to be paid by the insurer of six months, but after the waiting period you are reimbursed for the insurance premiums you paid during this time while you were disabled.

Learn more about how a life insurance disability waiver of premium works and why it may be a good idea to add this important coverage to your life insurance policy, especially if you have a high risk occupation or you take part in risky activities or hobbies.

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Do I Need to Get a Medical Exam for Life Insurance?

It depends on the life insurance company requirements, your age and health.

Many life insurance companies now offer non medical life insurance policies for qualified applicants.

You answer a few health questions during a simplified application process and the application may be reviewed by the life insurance company in less than 24 hours. This means, you may get approved for your no exam life insurance policy in less than 24 hours. Once approved, you can start your life insurance coverage.

The older you are, the more health issues you have, or the higher the amount of life insurance of your policy, the more likely you are to be subject to a medical examination requirement.

But, there are no exam life insurance policies for seniors, too. Some senior no exam life insurance plans offer guaranteed acceptance for people age 45 to 85.

Learn more about your options for non medical life insurance coverage.

How Much Does a Life Insurance Policy Cost?

The cost of your life insurance policy will depend on:

1. The type of life insurance policy (Term or Permanent).

2. The amount of life insurance coverage.

3. The length of coverage - how long your life insurance will last.

4. Your personal risk factors, including your age, gender, health, lifestyle, tobacco use, hobbies, occupation, driving record, and height to weight ratio, among other things.

For a life insurance quote estimate use our quick quote tool

What if I already have Life Insurance through my Employer?

Life insurance is offered as a benefit by some employers and is often known as employer prodded group term life insurance.

Make sure a potential payout from your employer provided life insurance would provide the necessary amount of coverage your dependants need and remember that, if you leave or lose the job, the employer provided life insurance protection will end.

That's why it is so important to purchase your own individual life insurance policy separate from the coverage provided by your job.

If you do lose your job or leave your employment, you will keep your own individual life insurance policy which can help guarantee your family financial security in case you pass away.

Learn about the benefits of term life insurance