We all know that we need term life insurance to protect our families in the event that something were to happen to us. Life insurance makes certain that even though we are gone our family does not have to suffer as a result of losing that source of income. Term life insurance is the simplest, most cost effective, and best form of life insurance for the vast majority of people.
If you’re looking to get life insurance protection, in most cases a term insurance plan is going to be the best option. There are several reasons that applicants tend to buy a term insurance plan versus some of the other options. We are going to explore some of those options in this article.
With term life insurance you are buying just life insurance. There are no fancy investments or anything added on. You pay a monthly premium and in exchange, if something were to happen to you, the insurance company will pay the face amount of the policy to your beneficiary. It’s clean and simple. The only potentially confusing part is the term in term life insurance. All the term means is the number of years that your premiums will not change. So if you get a 30 year term policy, the monthly premium you pay will be the same every month for 30 years. At the end of that term your policy expires and you are not covered any longer. All you need to get started is a set of quotes which you can get instantly by filling out the form on the side of this page. What you will get will look like this:
If this looks confusing we have a whole page dedicated to helping you decipher term life insurance quotes.
Since there is nothing to manage with a term life insurance policy there is no overhead for the company. This means they do not have to pay someone to keep up with what is going on. They just send out the bill every month (or whatever payment plan you choose). When you couple the lack of expenses to the company and the sheer number of companies competing for your business, you get a product that is very inexpensive. Since there are so many companies it is important to know who are the best companies in the industry. Not only do our quotes include a rating of each company but we have spent a lot of time researching the best life insurance companies for you.
There are many different forms of term life insurance. The most common difference is the length of the term. Some people only need life insurance for a short period of time so they choose a 5 year term, while others are looking to lock in a low premium for a long time so they choose 30 year term life insurance. What this means for you is there is one policy that will meet your specific needs. You can check the different rates by changing the options on our form on the side of this page. We also provide you with detailed information on the most common types of life insurance.
Another option for life insurance coverage is to purchase a no medical exam insurance plan. As you can imagine from the name, these no medical exam plans are going to allow you to purchase life insurance without being required to take the medical exam first. These plans are a great option for anyone that has been declined for insurance coverage in the past. Just like with a traditional term insurance plan, you’ll buy a no medical exam for a certain period of time, and after that point you’ll no longer have insurance coverage. There are several advantages and disadvantages that you should consider when you’re looking to get life insurance protection.
The biggest advantage is that anyone can buy one of these plans, regardless of health or any pre-existing conditions. It’s important that your family has the protection that they need, and your health shouldn’t prevent you from getting it. Life insurance will give your family the money that they need.
The other notable advantage to these policies is that you can get approved for coverage much faster than you can with a traditional life insurance plan that requires a medical exam. With a no medical exam policy, you can be approved for life insurance in a matter of days, but with a traditional plan, you could wait several weeks. If you want to get life insurance as quickly as possible, a no medical exam plan is going to be the best option for you.
At the other end of the spectrum, there are several drawbacks to these plans as well. The most notable disadvantage is that these plans are going to be more expensive than a traditional plan. The purpose of the medical exam is to give the insurance company an idea of what your overall health, which they will use to determine how much of a risk you are to insure. Without that medical exam, the insurance company is taking a biggest risk, and that are going to offset that by charging you more every month. If you want to get the most affordable life insurance coverage, then you should apply for a traditional life insurance plan.
Another disadvantage is that you’ll be limited on how much life insurance protection that you can buy through a no medical exam. With a traditional insurance policy, you can buy millions and millions of dollars of insurance coverage, but with a no medical exam, you can only buy around $250,000, which isn’t enough insurance for some families.
Because no medical exams are going to be significantly more expensive than a traditional plan, you should only use one of these plans a last resort for insurance protection. If you’ve been declined for life insurance in the past because of a pre-existing condition like diabetes, there are dozens of companies that specialize in insuring high-risk applicants and we can help you get a plan from one of these companies at an affordable rate.
If you’ve looked at the advantages of a term life insurance plan, and you’ve decided that it doesn’t fit your needs, there are several other options that you can choose from to give your family the protection that they need.
One option is to buy a whole life insurance plan. These policies are a permanent form of coverage, which means that they are never going to expire. As long as you continue to pay the monthly premiums you’ll have life insurance. They are a great option for anyone that worries about not having life insurance coverage in the future. Because these plans are permanent, they are going to be much more expensive than a traditional term insurance plan.
Since we already know that we need life insurance and that term life insurance is the best option for you. Let us help you through this process. Fill out the form on the top of this page and get your free no obligation quotes. An agent will be in touch with you to answer any questions, but the process is no pressure and you are given the opportunity to do the entire application process without talking to anyone until it is necessary for completion. If you would like to do a little research you can learn about life insurance in your area by checking out our listing of life insurance by state. It would be our honor and pleasure to help you get the best life insurance for your needs.
Because you never know what’s going to happen tomorrow, don’t wait any longer to get the insurance protection that your loved ones need. If something tragic were to happen to you, your family would be responsible for all of your final expenses, which can easily equal hundreds of thousands of dollars. Losing a loved one is never easy, but being left with a mountain of debt is going to make the whole situation much more difficult.
We know that nobody wants to think about his or her death, but you can’t avoid it. Not planning for your passing is one of the worst things that you can do for your family. Don’t wait any longer. Contact one of our agents today and we can get the life insurance process started.