Best Term Life Insurance Quotes – Term Life Insurance Policy
Get more coverage at specific times that you need it most. A term life insurance policy is often far more affordable than any other types of policies out there.
What Stands Out With A Term Life Policy?
Biggest BANG For Your Buck
Low Up Front Cost
What is term life insurance?
Term life insurance is a life insurance policy that provides temporary life insurance, which is called a term. The term usually lasts anywhere from 10 to 30 years, and is sold in intervals of 5 years. The term life insurance policy, initially was designed to protect the policyholder’s dependents in case they die prematurely. But term life insurance quotes can be built for many different purposes than just protecting dependents.
The best term life insurance is offered through Local Life Pro’s quoting partners.
Get Term Life Insurance Through Our A Rated Partners Who’ve Been In The Indusrty For Over 100 Years
we provide these plans with all our partners, these are just the featured options
Choose Transamerica whose been helping the financial state of million of americans for over a century now, becoming one of the most top rated life insurance companies.
Mutual of Omaha
Choose term life plans from a company that has been helping individuals, families, and businesses through life’s transitions for over a century now.
Choose AIG Direct, a growing company with over 88 million customers that seek the help customers save, while still getting the coverage they need.
Lost in the options? Local Life Pro will make it easiest to find the best term life insurance quotes online. Use our following chart to find out which company our clients chose most for having a term life insurance policy.
- Transamerica 50%
- Mutual of Omaha 35%
- aig direct 15%
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Obtaining A Term Life Insurance Policy
The very first step with finding a term life insurace policy is finding out ‘how much you need’ and ‘how long you need it’. You can always speak to your tax advisor, our specialized Life Insurance Agents, or our online calculator to find out your life insurance needs
Terms are usually split in 5 year intervals. Each term length could be helpful in a variety of different situations. Term lengths are usually:
- 1 Year Term
- 5 Year Term
- 10 Year Term
- 15 Year Term
- 20 Year Term
- 25 Year Term
- 30 Year Term
Term Life Policy: Values Of The Policy
In most cases the point of life insurance is to protect against the risk of losing the income stream of a household provider in the event of premature death, leaving the family in a precarious position. In many situations this risk exists for a limited time.
Permanent life insurance might not be necessary because as the family matures, the child grows up and becomes self-sufficient and the parents retire. At retirement, income from work drops to zero and the family depends on their retirement savings to carry them through. At this point there is no longer a risk of losing income. In fact, if a parent were to die, the other will be well-supported by a retirement savings originally planned for two.
A typical younger couple is better off purchasing a 20-30 year term life policy to hold them over until retirement, when the risk of income loss and child-care expenses disappears. If couples accurately use and gage a term life insurance policy, they can save much more over buying a permanent whole life policy.
Biggest Bang for Your Buck:
All life insurance policies come with a mortality charge that pays for pure coverage — the death benefit. This benefit is paid for by statistically determined mortality charges regardless of whether you’re buying a term, whole, or universal policy. Individuals just looking for maximum death benefit with the least investment have their best bet with term life since permanent policies (whole, universal) include charges for extra features usually built for investment. But in these certain cases, these features aren’t desired.
Low Up-front Cost:
Term Life Insurance Quotes are extremely simple. The premiums correlate directly with mortality charges, and the charges correlate directly to the policyholder’s statistical likelihood of death. This makes term life insurance for young individuals much less pricey, and easy to secure. Permanent life insurance such as whole and universal try to level out premiums, which necessarily means higher up front costs to reduce what would have been exorbitant premiums for others pass age 60 under non-level term life.
When should I consider buying a term life policy?
Term insurance is generally used whent the premium for permanent life insurance is way too absorbant, and the need for death benefit coverage is only temporary. Term insurance typically provides for the largest immediate death benefit amount for each premium dollar. It is appropriate if you are seeking protection for a specific need that will end at a future date such as to pay for a child’s college education expenses, to repay a loan or to replace income should death occur prior to retirement.
How does term life insurance differ from permanent life insurance?
Permanent life insurance is intended to never fade, and be an investment account throughout your entire life. Generally, the initial premiums for permanent insurance are higher than term insurance. Permanent life insurance premium is used portionally to build-up a cash value in the policy. The cash value can be used in a number of different ways including allowing you to take out a loan against the cash value. Term insurance provides protection only for a specified period of time and typically isn’t used to build up any type of cash value for investment.
How long will coverage under a term policy continue?
How long a term policy will last is dependent on the duration of the term policy you purchase. For example, if you purchase a 5 year renewable term policy, your coverage may be renewed every 5 years up to a specified maximum age limit. If you purchase a 15 year level term policy you will have coverage for 15 years. If you purchase a 15 year renewable level term policy you will have coverage for 15 years and then have the right to renew your term coverage for another 15 years. Find term life insurance quotes with Local Life Pro.
Speak With A Local Life Insurance Agent
Local Life Pro has over a thousand certified, licensed life insurance agents scattered throughout the 50 states. We guarantee to have one nearby that knows all the plans in your area, as well as granting you the opportunity to meet in person to discuss better plans available. Your information is safe with us. Fill out the form to have a agent call you shortly.