See Which Policy Fits Your Needs
So you want the best term life insurance quote? I imagine you mean the best term life insurance quote for your particular situation.
You have done a little research, asked a few questions of friends and some other people whose opinion you respect, and conclude that you should get quotes and decide from there which insurance company to buy from…and how much.
When it comes to which company to buy from that is easy…you are in the right place if you are reading this page. The companies that you will be referred to are the best life insurance companies available.
There is nothing more important than your family’s security. What would happen to your family if you died? Would they be provided for? Compare Quality Quotes and Save up to 70%!
Best Term Life Insurance Quote – Policy Types
The amount of term life insurance you buy depends on your need and how much you are prepared to pay. Let us take a look at some of the varying term life policies and see which will more likely give you the best term life insurance quote.
- Decreasing Term Life Insurance
The decreasing term life insurance policy is insurance that starts out at a certain amount of death benefit that steadily decrease each year thereafter.
This type of insurance is fairly inexpensive and the waiver of premium benefit can also be added at additional cost.
This type of life insurance is very popular homeowners who would probably consider a quote on this policy to be their best term life insurance quote.
It is used to cover the balance owed on a mortgage. If the homeowner dies the mortgage is paid off by the insurance company.
This is a very good life insurance policy to buy if you are a homeowner. If this is your situation then it may be good to get your best term life insurance quote for this type of policy.
- Increasing premium Life Insurance
Increasing premium term life insurance, yearly renewable term life insurance, or annually renewable term life insurance are the three names by which this policy is known.
In the beginning of the policy the premiums are the lowest that you can pay for any life insurance policy.
This premium is only for the first year…they increase every year for as long as you own the policy. This is life insurance in its purest form.
You pay each year according to the risk that the insurance company is taking. The initial low premiums are good, but this type of life insurance can get very expensive as the years go by.
It would be wise to convert this policy to another type, that has a level premium, before it gets too expensive to keep. A quote on this could be the best term life quote for you…if you have little spendable income now and you plan to convert this policy as soon as you can.
- 5 Year Level Term Life Insurance
A quote on the 5 year level term life insurance policy may be the best term life insurance quote for you. Here is how it works. The death benefit of the policy remains level for the duration.
In other words, if you buy a policy for$100,000 this amount is what would be paid upon your death as long as you die within 5 years.
The premiums also remain level for the entire 5 year period. If you have a very short term need for life insurance this could be the best term life insurance quote for you.
You can add the waiver of premium disability rider to this policy at a minimal cost. The accidental death benefit, otherwise known as double indemnity, can also be added.
- 10 Year Level Term Life Insurance
Your best term life insurance quote may be a quote for a 10 year level term life insurance policy. As the name implies the death benefit remains level for the entire 10 year period and so does the premium.
After 10 years the insurance company may elect to allow you to keep the policy, in some cases, for a higher premium.
The insurance company may require additional evidence of insurability. You may add the waiver of premium disability benefit and the accidental death benefit.
This policy is very popular because of the low premium and the fact that you can initially keep it for 10 years. A quote on this may be the best term life insurance quote for you.
- 15 Year Level Term Life Insurance
This policy maintains a guaranteed level face amount for 15 years. The premiums also are guaranteed level with most companies.
Some companies may increase them every 5 years if the policy begins at a lower than usual premium. Check this one out as it may be useful for family protection.
- 20 Year Level Term Life Insurance
The 20 year term life insurance policy is the one that most people like and buy more than the others. The death benefit stays level for 20 years and in some cases so does the premium.
Some life insurance companies increase the premiums after 10 years and again after 15 years. The premiums are, however, pretty low.
You may add the waiver of premium disability clause to this policy for a very low cost. You can also add the accidental death benefit rider to this policy.
It is worth your time to thoroughly examine your best term life insurance quote on this policy. Most people like and buy this 20 year term life insurance policy.
- 25 Year Level Term Life Insurance
Because some people like to use term life insurance to cover money owed to a bank or mortgage company the 25 year term life insurance policy has become quite popular.
It is also used in family situations to protect thee dependents in the event of the death of the breadwinner. You should investigate whether this would be the best term life insurance quote for you.
The face amount remains level for the life of the policy. The premiums remain level for the entire period as well. Some companies start this policy at a lower than usual premium and may increase it after 5 or 10 years and every 5 years thereafter.
- 30 Year Level Term Life Insurance
A fairly new player in the term life insurance arena is the 30 year term life insurance policy. Similar to the other policies the guaranteed face amount of the policy remains level for the duration. The premiums remain level also.
The waiver of premium rider as well as the accidental death benefit rider can also be added. If you really want the best term life insurance quote this may be the one for you.
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