How to find an affordable life insurance Privacy Policy | Contact |

How to find an affordable life insurance

BBBOnLine Reliability Seal

Home - Life Insurance - Knowing Life Insurance Basics - How to find an affordable life insurance

Find Local Doctors & Health Plans : Enter ZIP Code...

Your ZIP Code

Types of Health Plan

Your E-mail ID

[Optional and Compliant to Federal Laws]

How to find an affordable life insurance

How to find an affordable life insurance

To many people, affordability comes first while making any big purchases. The same is true for life insurance shopping. The decision of providing affordability to one's family is very critical. Term life insurance is one such affordable option.

The benefits of term life insurance

A term life insurance is comparatively less expensive than a permanent life insurance as the premiums paid is for a less period of time. A permanent life insurance costs more as the premiums paid are for the whole life of the policy.

Another benefit of a term life policy is its renewable feature. Although term life policy is meant for a specified period of time, it can be renewed after completion of the term and there is the option to convert it into a permanent insurance when you are better able to afford the higher premiums required.

Cash value of term life insurance

Although permanent life insurance policies provide additional “cash value” that is accumulated over the policy life, the same could be achieved with a term life policy through investment in a mutual fund. In certain cases, you may accumulate more money than that grows in a permanent life policy which depends on the money that you invest.

Reaching your goals with term life insurance

Term life insurance is purchased for a certain “term” (from one year 30 years) and is right for short term goals. As for example, one can pay off mortgage or college savings through term life insurance.

Disadvantages of term life insurance plans

Although the premium rates of term life insurance are affordable, the premiums would increase during its renewal. However, the premiums paid would be much less than a permanent life policy, although the premiums would vary at the time of renewal.

A term life insurance does not increase in cash value, but only provides coverage. One receives the payout of a term life insurance if he or she dies during the term period. If you survive the period of policy, you do not receive any benefit.

The premiums of term life insurance

As already said, the premiums of term life insurance policy is less compared to other types of insurance.

How to find an affordable life insurance CLICK HERE FOR INSTANT FREE LIFE INSURANCE QUOTES


Home     Contact Us     Privacy Policy     Our Edge     Disclaimer     Site Map     More Resources

Copyright 2003-2021 QuickHealthInsurance.com Group, Inc. [Protected under U.S. Copyright TX5-874-987 & Several Pending Patents]

Page copy protected against web site content infringement by Copyscape.