How To Get Term Life Insurance

John.D

Member
Life is uncertain. Death, illnesses and accidents can strike anybody at any time without warning. To handle these unforeseen situations, it has become mandatory for one and all to purchase a life insurance policy. Whole life insurance is very expensive and very few can afford it. But for people who would like to insure themselves at a nominal cost, opting for a term insurance policy is the solution.

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If you are interested in buying a term life insurance policy, here are some guidelines to help you choose the right one.

What is term insurance?

Term insurance policy is a policy which covers you for a certain period. Once the term is over, you need to renew the policy. When the policy is in force, it pays a predetermined sum to your dependents on your death. There are no deductions for any government taxes. In return, you pay a certain sum as a premium to the insurance company till the policy term expires. There is no investment involved in this type of insurance.

Who can get lower premium quotes?

If you are young, in good health, a non-smoker and are in the correct weight range appropriate for your height and gender, you are entitled to lower premiums. Taking additional coverage will slightly increase the quote, but it is advisable to do so. But do not go for the riders like accidental death or waiver of premium as they can increase the quote steeply. Opt for paying your premium annually because many insurers ask for higher monthly payments. Ask many insurers for their quotes on various time periods. If you think that the quote charged is very high, negotiate with the insurer to lower the premium.

When can I avoid purchasing insurance?

If you have no dependents, then life insurance is unnecessary. But if you choose to buy one, select the term favorable to you. The term should be the time when there are no people depending on you. This may be because you are single, your children have started earning or you are enjoying the post-retirement benefits available after 65 years.


 

jhon paul

Member
Hi i have gone through your post on term insurance it is really helpful information.I have to give some more information on term insurance, Terminsurance is a life insurance plan that provides financial coverage to the beneficiary of the insured person for the define period of time. Death benefit is paid by the insurer to the beneficiary in the event of demise of the insured during the policy term. A term plan not only offers the financial security to your family but also offering the financial future needs such as your child education children's marriage....

Term life insurance policy could help in protecting your dependents in more than one ways. Offering different options, the term life insurance policy is one of the principal ways that guarantees monetary assistance to a huge extent for your family when you are no more around.
 

Wisdom01

Valued Contributor
Having a term insurance policy could entail more benefit and coverage on what you are benefiting from only that it will have a specified period of time the person would stop getting the coverage ,the only term insurance policy I can't go for is the one relating to health but for life I can still go for it
 

Mandy96

Valued Contributor
The same way to get all the other insurance policies, one should be able to get this very term life policy as well. On the internet, one can buy from an agent, and also directly from an insurance company. Well I really do not support getting it online simply because one is exposed to being scammed easily
 
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