When shopping for term life insurance coverage, oftentimes people will just assume that as they get older, these policies will become unaffordable. In some cases, this may be true. However, with term life insurance, this is not necessarily always the case. In fact, when you really shop around, you can often find that term life insurance – even at the older age brackets – can be a very inexpensive way to provide financial protection for those you love.
With term life insurance, you can typically purchase large amounts of coverage for a very low premium outlay. And, for literally pennies on the dollar, you can provide the funds that your loved ones may need to pay for final expenses, income replacement, estate taxes, or any other debt that they may need such funds for in the event of the unexpected.
Today, many of the best life insurance companies offer cheap term life insurance plans – and we can help you to determine which one will work best for you – even if you are not in perfect health. We can help you in comparing the available term life policies and rates, and in doing so, you will be able to find out just how cheap term life insurance coverage really can be.
Why Is Term Life Insurance So Inexpensive?
When pricing life insurance policies, many people may wonder why a term policy is so much cheaper than a comparable amount of permanent life insurance. The reasoning behind this is because there are two primary types of life insurance coverage. These are term and permanent.
With term life insurance, you have simply pure death benefit protection. You purchase a policy for a set number of years, and if the insured passes away within that period of time, then the named beneficiary (or beneficiaries) will receive the death benefit proceeds from the policy.
With permanent life insurance – which can encompass whole life, universal life, and variable life policies – you receive both death benefit protection, as well as either a cash value or an investment component. Here, you will be able to build up a tax deferred savings or investment account along with your life insurance. Yet, while this may appear to be a benefit for some, it can actually increase the premium that you pay by quite a bit.
Who is a Good Candidate for Term Life Insurance?
There are many people who are good candidates for term life insurance. These can include those who are seeking coverage for a “temporary” need. For example, if you have a 30 year mortgage and you want to make sure that the mortgage debt is paid off for your spouse and children if you pass away, then you could purchase a 30-year term life insurance policy in the amount of the mortgage balance.
Other good candidates for term life insurance are those who are seeking affordable life insurance coverage and who may simply not have the funds to purchase a whole life or other form of permanent life protection. For instance, there are many young couples who simply may not have a large budget for life insurance, but who need the coverage in the event of the unexpected. Term life insurance can provide a great way to purchase a substantial amount of coverage at a very low price – especially if you are young and in relatively good health.
Where to Find Cheap Term Life Insurance Coverage
When you are shopping for cheap term life insurance coverage, you will want to do a thorough comparison of the many different policies that are available to you, as well as the premium rates. This is because there are numerous plans to choose from.
When doing so, we can help. We work with many of the top rated life insurance companies in the market place today, and we can help you to compare a wide variety of term life insurance policies, as well as premium quotes. We can get you the information that you need within seconds – all from the convenience of your home computer, and without the need to meet in person with a life insurance agent. You can get the process started now by simply Clicking Here.
Should you have any questions about where to find cheap term life insurance coverage, how to obtain quotes, or even about whether or not term life insurance is the right type of coverage for you, please feel free to contact us by phone. Our experts are here to assist you with any questions or concerns that you may have. You can reach us, toll-free, by calling 864-491-5785. We want to ensure that you purchase the best type and amount of life insurance protection for your specific coverage needs.