Obtaining life insurance is easier than you think
Get the coverage you need
If you have loved ones who depend on you, you need life insurance. From choosing a temporary or complete insurance policy to the correct policy, we are here to help you every step of the way.
Save money by buying around
The best way to save life insurance is to compare all the options available to you. Request quotes from more than 30 companies, see all your options in one place and choose the policy that best suits you and your loved ones.
Start applying immediately
Whether you are a parent or a homeowner or managing the business of your dreams, it is important to make sure that your assets are protected today and for years to come. Once you have found the correct budget and policy, you can start your application immediately.
What is the term life insurance?
Life insurance for life, also known as pure life insurance, is life insurance that guarantees the payment of death compensation during a specified period. Once the term has expired, the insured can be renewed for another term and transferred to permanent coverage,
Or allow the policy to expire. Life insurance policies are offered for declared benefit upon the death of the insured, provided that the death occurs within a specified period.
Break the life insurance term
There is no value to life policies in the long term non-guaranteed death benefit. There is no savings component as it exists in a life insurance product. The purpose of this policy is to give people insurance against loss of life. All premiums cover the cost of insurance contributions. As a result, life insurance premiums are usually lower than life insurance premiums.
Characteristics of Term Life Insurance
For example, George, 30, wants to protect his family in an unexpected state of sudden death. He buys a 10-year life insurance policy for $ 500,000 with a $ 50 per month premium. If George dies within 10 years, this beneficiary policy will pay George $ 500,000. Alternately, George does not pass and is now 40 years old. Your term policy has expired. If you decide not to renew and then die, the beneficiary will not receive any benefit. If you decide to renew the policy, the new policy will give the premium on your current 40 years.
Terms of Life Insurance
The age, sex, and health of the insured are the main determinants of the premium calculation. Depending on the nominal amount of policy, a medical examination may be needed. Other common factors are driving history of the insured, current medications, smoking status, occupation, hobbies, and family history.
The installments are fixed or level, throughout the duration of the contract. However, the cost of insurance increases with the lower life expectancy of the insured. After renewal, the insured may notice a significant increase in premiums. Therefore, a 20-year-old has a residual life expectancy of 58.86 compared to a person of 50 years with a life expectancy of 28.86 years remaining. The risk of obtaining insurance for a 20-year-old is below the risk of covering a 50-year-old.