Life insurance provides your loved ones with protection in the case of your death. If you die during the time you are covered, the people you have selected will receive a cash payment. There are different types of life insurance, primarily term life insurance and whole life insurance. Term life insurance covers you for a specific period, while whole life insurance protects you for your entire life. If you are interested in purchasing a short term life insurance product, this is what you need to know about term life insurance.
Term life insurance doesn’t necessarily have to be a short term insurance solution. You can find term life insurance policies for 10, 20, and even 30 years. If you die within that period, your beneficiaries will receive the benefit amount. If your term ends before you die, you cannot renew your policy. Therefore, it is important to consider how long you will need coverage when choosing your policy.
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Term life insurance is actually relatively inexpensive, compared to whole life and universal life products. On average, a 30 year old male will pay around $300 in premiums per year, while people aged 60 or older are likely to pay around $900. Life insurance may cost more if you purchase additional benefits via riders and adverse health conditions may increase your costs as well. To get a completely accurate idea of how much life insurance will cost you, contact T&T Insurance for a free quote.
To get term life insurance, you need to reach out to an insurance company that sells the plans. To enroll, you must first answer some medical questions and complete a medical exam with an approved physician. If your health qualifies you for the plan, your provider will then issue you rates. You can decide whether to accept the plan at the price they offer you.
How To Choose A Term Life Insurance Plan
If you need term life insurance, the best thing to do is to contact an insurance professional that specializes in life insurance. T&T Insurance can help you find the plan you need at an affordable cost. All you have to do is call. Our number is 800-MI-NORTH (800-646-6748).