Term insurance is a type of life insurance policy that offers coverage for a specified 'term' of years. If the insured person ceases to exist, during the time duration that has been specified in the policy, then a death benefit will be paid.
If you want an affordable insurance coverage policy, then the obvious choice has to be term life insurance. It provides you with protection for a certain number of years, and is beneficial because it offers the following:
There are different types of term life insurance policies available to people, and my job is to help you get the best one for you.So, let’s check them out shall we?
Simplified issue term life insurance starts coverage under $100,000 and there is no medical exam required. This form of life insurance is affordable and you can get it under 24 hours.
Level term life insurance policy has a coverage amount of $100,000+ and is considered to be a great choice for individuals who want an affordable coverage plan.
If you want a short term solution, then you can get the non-renewable one year term life insurance policy, which can be extended to coverage of around 5 years.
This is the million dollar question that you must be thinking about. To be honest, these policies are great for people who want financial protection in the form of a life insurance policy. To qualify for this policy, certain factors will be look at such as your health condition, your family’s health condition, your age, and your short or long-term financial goals, assets and obligations. Other things that will be looked at will be risk taking factors, your portfolios, investment strategies and more.
Term life policy offers you a great way of getting financial protection, especially in the early working years of your life, as it covers your loved ones, while you are still in the middle of your working phase.
There are lots of great insurance companies out there that are offering term life insurance policies. My advice would be to take a detailed look at their guidelines and structured plans, and most importantly take your time on every policy. People generally rush when it comes to getting insurance policies, and then end up getting the raw end of the deal.
I work and live to help people get the best possible insurance coverage, and if you have ANY question regarding term life insurance you can always reach out to me. I will help you understand the benefits of the policy and why it might be a great thing for your family at this stage of your life. Hopefully by working together I will help you to make a well informed decision about term life insurance policy.
