Convenience: Simplified insurance is a good bet if you don't want to deal with a medical exam. A recent study found that 47% of Americans prefer to buy life insurance through a simplified process.
No matter your age you should assess life insurance policies based on your goals and your family's financial needs. This is critical for determining the best coverage.
Term life insurance can be understood easily, making it easy for you to compare and purchase life insurance quotes. As long as you pay your premium, you are covered for the term of your policy. Only three major decisions must be made: how much life coverage you require, how long you want it to last, and which insurance company you want to do business with.
If you don't plan to have children yet, you can lock yourself in a lower monthly premium while you are still young and healthy. You can also lock in a lower rate so your policy doesn't mature before you have children.
Term life insurance is an affordable and simple way to ensure the financial well-being of your loved ones should something happen.
Many factors influence individual life insurance quotes. A healthy 35-yearold male with a term life policy could expect to pay around $30.42 each month for a 20 year, $500,000 policy. However, a 35-yearold female may pay $25.60 for the same policy amount and term. Generally speaking, whole-life insurance is cheaper than term. Whole Life has a longer life expectancy and includes additional savings.
Quick approval: You don't need to wait weeks for your results or undergo a medical exam. This is a great option if you are in urgent need of coverage, such as for a upcoming trip.
A simplified issue can be a good fit if you're looking for:
Term life insurance, also called pure life insurance or term life insurance, provides a guaranteed death benefit for the person covered if that person dies within a set period. The policyholder can choose to renew the policy at a later date, to convert it to permanent coverage, or to let the term-life insurance policy lapse.
Two types of life insurance policies are available: guaranteed issue and simplified. Understanding the differences and what they have to offer will help you decide which type of no-medical exam life insurance policy is right for you.
Many term life insurance policies offer a conversion option, putting you in control. This allows you to switch to a permanent life insurance policy before the term expires, usually without requiring a medical exam.
Term life insurance is a policy that provides coverage for a set period, like 10, 20, or 30 years. If the policyholder passes away during this time, their beneficiaries receive a death benefit.
Most term life insurance policies have level premiums, meaning the payments remain the same throughout the policy term. However, some policies may have increasing premiums as you age.