Term Life Insurance Rates
Dependable life insurance is an important part of securing the financial future of loved ones. While permanent coverage is the right solution for many people, term insurance has become more popular than ever on account of it delivering reliable, inexpensive coverage for a specified amount of time. If you are considering looking into a few term life insurance rates online, here’s some information that can help you make the most informed decision.
Smart, Cost Effective and Convenient Protection
Term life insurance is a smart solution, helping loved ones secure the finances for important end of life expenses, like outstanding debt, even a mortgage. It’s reliable protection for a certain amount of time, ranging from 10, 20, even 30 years. With premiums that stay the same for the duration of coverage, term coverage is a cost effective and convenient way to get peace of mind. Many term life insurance policies are renewable, meaning at the end of the term, you can renew without a medical exam or health questionnaire.
Decide On How Much Coverage You Need, But Compare Your Options
One of the biggest advantages with term life insurance is cost. It’s the simplest of all the options and typically the least expensive compared to whole life insurance or universal coverage. That’s great news, but securing affordable term life insurance rates starts with deciding how much coverage you need and then comparing your options. While you may only need coverage for 10 years, it makes sense to look at a 20 year term, even 30 year term insurance rates. You may find that it’s only a few dollars more for an extended length of time. Its also good to under stand decreasing term life insurance which has been confusing to many people.
Secure Instant Quotes Easily
Despite what you may have heard, it’s not difficult to find reliable quotes online for term life insurance coverage. In fact, term insurance rates are everywhere. The key is finding dependable companies you can trust. At United Life Group, we offer policies from top companies starting at $25,000-$50,000 minimum quotes, but we can get quick quotes up to $1 million or more. If you’re looking for rates on mortgage life insurance, senior life insurance, even whole life insurance we offer that as well. Just input a zip code and in seconds, you’ll have access to all the information you need.
Secure peace of mind in an instant by letting United Life Group lead the way toward term life insurance you can count on.
Term Insurance vs. Whole Life Insurance
There is a lot of struggle for people who are buying life insurance. The biggest struggle seems to come in understanding the different types of products that are available, and specifically the difference between term life insurance vs. whole life insurance. It's pretty simple to understand if you break it down, though. Most sites won't explain the details, but here's what you need to know.
Term life insurance vs. whole life insurance:
-Level term insurance coverage is for a specific period of time. You can get coverage for 5-30 years in most cases, depending on what you want.
-Decreasing term life insurance is design to decrease at a predetermined rate over the life of the policy. This type of coverage is less popular today.
-Whole life coverage is indefinite. You basically pay for ongoing coverage for the extent of your life, hence the name.
-Term life only pays a specific death benefit. For example, if you get $50,000 in coverage, that's what is paid upon your death and that's all the insurance does.
-Whole life includes an investment option. You will get your death benefit, but you will also accrue other funds that can be used as an investment vehicle. You can withdraw this money under certain circumstances to help pay for major life events.
-Term coverage is generally more affordable and designed for those who are single or older.
-Whole life insurance costs more on average, but is best for young adults and families who want the extra protection that comes with this coverage. It's not recommended for older adults because there is no time for the investment to accrue value.
-Term life can be renewed or converted to a whole life policy in some cases, but that may cause an increase in premiums.
-Whole life premiums are set from the day you buy insurance and they do not go up.
-Term insurance premiums can increase over time as you renew the policy or get older.
As you can see, it's pretty easy to see the differences with term life insurance vs. whole life insurance. It's all about whether you just want a basic death benefit or if you need a whole policy that includes a potential investment. Take the time to think about your needs so that you can choose the right policy, no matter what you have in mind. Now that you know more, it should be easier to get the insurance coverage that you deserve. Life insurance is never a walk in the park, but it doesn't have to be complicated if you take a little time to learn.