Term Life Insurance - Everything You Need to Know to Get the Best Insurance for Your Needs


If you have a spouse, children, or both, and your current and future standard of living depends on the money you bring home each month, term life insurance is the best financial purchase ever. For just a penny a day, you can be assured that your future is not guaranteed in the event of unforeseen circumstances.

Purpose of term insurance

There is nothing easier than term insurance. In exchange for a set premium, the insurance company promises to pay your beneficiary (the person who is supposed to receive the earnings) the full amount of the policy.

This type of policy does not build cash value. All you have to do is decide on the period of insurance and pay a fixed premium. The longer the insurance period, the higher the premium.

Below is an example of his $100,000 policy for a 35-year-old non-smoker male.

10-year term is $7/month, 20-year term is $9/month, and 30-year term is $13/month.

Below is an example of his $100,000 policy for a 50-year-old non-smoker male.

10-year term is $14/month, 20-year term is $21/month, and 30-year term is $36/month.

How long do you need life insurance?

Most people need protection longer than they think. Consider these reasons for buying life insurance and the corresponding timeframes.

If you have young children and you die prematurely (don't you think they all die prematurely?), do you want to make sure their college tuition is paid? If so, a 25 or 30 year policy is best. You have a mortgage on your house and currently need income for you and your spouse. Most mortgages are for 30 years, so I look for a 30 year contract for her.

You and your spouse are vacant at her 50s, but need income to maintain income levels, including retirement savings. In this case, a 20 or 30 year policy would be ideal.

Buy the cheapest policy possible.

Regardless of the insurance company, her $100,000 policy for 20 years would pay her $100,000 in the event of her death. It doesn't matter which company you buy from because you're not building cash value. The only caveat is to only purchase from insurance companies approved by A.M. Rated "A" or higher. preferable. These are the companies with the strongest financials. On my website you can buy the best life insurance company rates in the US.

Shopping is very important as prices vary greatly from company to company. The price of $250,000 for 30 years of insurance for a 40-year-old non-smoker with no health check is just $24 with the lowest monthly premium and $36 with the highest. The death benefit is the same in all cases. My suggestion is to buy the cheapest plan!

If you are healthy, change your plans and save money! 

Interest rates on term life insurance have fallen steadily over the last 30 years. Just because five years ago he had a 20-year policy, it doesn't mean he can't save money on the same premium or extend the policy period by changing insurance companies. Unlike endowment insurance, you lose nothing by changing your rates. But if you don't switch, you could end up losing a lot of money. And in today's economy, the dollar needs to be put to better use.

48% of Americans died without leaving life insurance benefits

The fact that 40% of Americans died without leaving life insurance benefits is shocking, but she also found that 21% of Americans said their loved ones died without leaving adequate life insurance. reporting. These statistics raise questions.

Why don't high-income spouses and parents buy life insurance to protect their loved ones' futures?

A survey found that many people put off buying life insurance. Good news for those people! Term insurance is easy. Simply select the number of years you want to cover, get some rates, and then choose the cheapest policy.

Another reason many people do not purchase life insurance is that they do not want to deal with insurance agents. These individuals do not see insurance agents as anything more than salespeople and no one wants to be sold. There is also very good news on this front. Technological advances have allowed sites like mine to get quotes and sign up without having to talk to an insurance agent.

life insurance is never cheap

A 35-year-old non-smoker can buy her $100,000 20-year term life insurance policy for $9 a month. The same person can leave her 20-year life insurance policy for the same $250,000 to the family for just a $4/month increase.

So don't hesitate to protect your family's financial future.  

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