Term Life Insurance Explanation

How much does a term life insurance policy cost?

Term life insurance is the most affordable type of life insurance you can buy for a period of 30 years or less of protection. Your monthly premium payment is based mainly on your personal health history, age, term (duration of policy) and amount of life insurance coverage.

How long does a term life insurance policy last?

Your policy's "term" is the set amount of time (number of years) you have life insurance coverage at the same premium. Typically, a term life policy's term (duration) ranges from 10 to 30 years. However, you may choose term coverage for a period of 10, 15, 20 or 30 years.

What is term life insurance protection?

This is the payment amount your beneficiary will receive if you pass away while your term life insurance policy is "In Force". Your beneficiary can use this death benefit payment from your life insurance policy any way he or she chooses, including to help with housing costs and childcare costs, or other expenses. Typically, this payment is free from federal income tax.

Here's how you can learn more about the advantages of term life insurance.

Will My Life Insurance Premiums Go Up Every Year?

No, your life insurance premiums for a term life policy are guaranteed not to go up during the specified term of your policy as long as premiums are paid according to policy specifications.

So, if you pay your premiums on time, when due, you will keep your term life insurance policy "In Force", until your term expires.

Your premiums on a level term life insurance policy are guaranteed to remain the same for the entire duration of your term, so, if you have a 10 year term policy, your premiums stay level (the same) for the entire 10 year period.

Tips on Mortgage Life Insurance

Are you looking for life insurance to protect your home and family?

If so, you may not be aware that term life insurance could offer you the best option.

Why mortgage term life insurance?

Because, you have the flexibility of choosing the term for your policy from 10, 15, 20 or 30 years.

Mortgage term life policies offer you the maximum amount of protection at the lowest cost. It's the most affordable way to protect your mortgage.

And, you leave the proceeds of your life insurance policy to your family instead of the mortgage lender or bank.

That means, your loved ones can use the money to pay the mortgage, remain in your home, and use the remainder of the life insurance proceeds for anything they choose to spend it on - like college, monthly bills or anything else.

Learn how mortgage term life insurance can help you protect your family, your home, and the future of your loved ones.

Two Ways to Get No Exam Life Insurance

Are you looking for life insurance but don't want to take any health exams?

If so, you may not be aware that you have a couple of different options to choose from for your coverage.

In fact, there's two types of no exam life insurance policies available: Simplified Issue Term Life Insurance and Guaranteed Issue Life Insurance.

A simplified issue policy offers you the option of purchasing quick and easy life insurance protection for your loved ones and start your policy in 1-2 days, rather than 4-6 weeks with a traditional life insurance plan.

With simplified life insurance there's no health exam, but there are some medical questions asked. Some carriers offer up to $400,000 or more of no exam life insurance.

Another option is guaranteed life insurance which means you can't be denied coverage due to any health problems.

However, the amount of life insurance is usually limited to around $25,000 or less. And, there's no health exam or health questions asked. Guaranteed life insurance is available for people between the ages of 45 to 85.

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

There's a Quick Way to find Cheap Life Insurance

Do you want to keep more money in your pocket instead of paying it out to an insurance company? Don't they already make enough money?

Yes, they do. That's why we are going to share with you the secrets to finding the cheapest life insurance policy available.

First, you'll want to consider the following questions:

1. How much life insurance do I need?

2. How much money can I afford to pay for my life insurance?

3. How long (how many years) do I need really need life insurance?

4. What do I want my life insurance to accomplish?

Now that we've got that settled, review your answers to the questions listed above and follow these tips:

1. If you need life insurance fort 30 years or less, choose a term life policy for the period of time you need coverage, from 10 to 30 years. Most term policies offer terms of 10, 15, 20 or 30 years of protection.

2. Compare multiple rate quotes for term insurance from several of the leading insurers, because each company has their own set of guidelines for pricing life insurance policies, and rates do vary by insurer.

3. If you smoke, quit smoking since smokers may pay up to 3 to 5 times more for the same amount of life insurance compared to non-smokers.

4. Choose to pay your premiums once per year (annually) instead of monthly because insurers add a service fee for the cost of processing 12 payments each year instead of just one.

5. Get healthy - If you have high cholesterol or you're overweight start exercising, lose weight and get your cholesterol under control. These health issues will have an impact on the price you pay for life insurance.

Now that you've learned a thing or two about saving on life insurance it's time for you to request your free life insurance quotes to find out how much life insurance may cost and which insurance company offers the best rates for you.

Do Burial Life Insurance Benefits have to be used to pay Burial Expenses?

Most burial insurance policies pay a cash benefit directly to the beneficiaries listed on the insurance policy.

While it is generally accepted the benefits will be used to pay for your funeral and burial costs, there is no one looking over the shoulders of your survivors to make sure that happens.

The money from a burial expense insurance could be spent on other things, which may include your hospital bills, credit card debt, etc.

However, there are some burial policies in which the insurance provider works directly with a funeral home to cover costs. In such a case, all the benefits would go directly to the funeral home.

Get a free burial insurance quote

Can I Get Life Insurance If I Have Bad Health?

Yes. You will pay a somewhat higher premium for your life insurance, but you can get life insurance even if you have poor health.

Because of the current competiveness in the life insurance industry, besides being cheaper, insurance companies are competing to offer affordable life insurance products for people with specific health risks - such as offering reasonable rates to people who smoke or require medications to control cholesterol, blood pressure or other health problems.

And, there are guaranteed approval life insurance plans for people who have been turned down for coverage or find it difficult to get insured.

Here's how to get a free life insurance quote for people with bad health.

How to Prepare for a Life Insurance Medical Exam

When taking a medical exam for life insurance be sure to have the following information with you at the time of your exam:

1. A picture ID.

2. A list of all of your medications and dosages.

3. A list of the names and addresses of your medical professionals, doctors, clinics and hospitals you have visited in the last 10 years.

In addition, make sure to select a time of day for your exam that is most convenient for you and when you have the least amount of stress. Do not exercise the day of your exam.

Make sure you don't drink any alcohol or caffeine the day of your exam and get a good night's sleep the might before your examination.

Here are some more helpful tips to prepare for your life insurance medical exam.