Today we have different types of life insurance and term life policies are just one of them. Although these policies are highly recommended by financial experts, most life insurance buyers are unaware of their merits. Let us therefore discuss term life vis-à-vis other whole life policies:
A term life policy is valid only for a specific term, while most other policies are sold for the life of the insured.
In a term life, death benefit is payable only if the insured dies within that valid term; in others, the death benefit is payable whenever the insured dies, provided the policy has been in force.
A term life does not accrue any cash value; the premium you pay buys only death benefit. Therefore, no other return can be claimed if the insured continues to be alive even after the term. Contrarily, all other policies grow cash value and hence offer an investment opportunity as well.
After reading all these, if you feel you should avoid a term life insurance at any cost, you have plenty of companies. Or else, if you look deep into the working of life insurance policies, you will find that the term insurance is very much affordable and has some advantages too. The biggest advantage of a term life is its price structure which so reasonable that whatever is your state of finance, you will never be tempted to give up the coverage. Moreover, you can use the difference to build up your asset independent of your insurance need.
Now, let us see why a term life insurance is so reasonably priced. The fact is that a term policy rarely pays out. A very few people die premature and hence a term life policy generally expires without having to make any payment. Most other policies on the other hand make some compulsory payment in the form of either death benefit or cash value; hence, life policies are generally more expensive than term policies.
Some people avoid term life policies because they dont offer any return unless the insured dies within the specified term. They dont realize the fact that if they die while the policy is still in force, the whole life policy will retain the cash value accrued using their own money and hand over only the death benefit to the beneficiary. More importantly, they can offer the return only because one pays extra for it. If you are in confusion what to choose, better compare term life insurance quotes with other kinds of insurance quotes and then decide.
However, you should make sure the inputs you provide in a quote form are as accurate as possible. You must understand that the quotes are mere estimates and are based on the inputs you provide. The actual rates will be provided only after thorough verification of the facts. If there is any contradiction in the details you have provided, you may still get the coverage, but at a higher rate, which in turn may upset your budget. Therefore, always provide accurate inputs to avoid such harassment.
Now, let us get into the actual purchase procedure. Buying life insurance online is easy. Calculate the coverage term and coverage amount first and then visit an online broker. Then, fill up the quote form and press the submit button. You start getting the quotes from different carriers soon. Next, you choose and apply. If you have chosen your broker well, nothing else you will have to do.
The brokers representative will now enter into the picture. He will fill up missing links, arrange for medical test, see through the underwriting process and make sure you get your coverage as soon as possible and that too at the lowest possible rate. Still, it may take about four to six weeks for the entire procedure to be over. However, if you are looking for instant life insurance, that too can be arranged but you will have to pay higher rate for it.
Life insurance no exam is a term life policy, which can provide instant life insurance coverage. It is very simple. It is a fully online policy and so there is no scope for interactions with sale representatives or paramedics. Apply today and if you qualify, you start getting the coverage from tomorrow. However, since these policies do not require any medical tests, the insurance providers will not be aware of many aspects of your health and hence they charge more to overcome the risk factor. Obviously, if anything is convenient, it needs to be bit more expensive.
Article by David Livingston of EQuote, who is a specialist in everything life insurance. For more information on insurance life quote and term life insurance, visit his site today.
A term life policy is valid only for a specific term, while most other policies are sold for the life of the insured.
In a term life, death benefit is payable only if the insured dies within that valid term; in others, the death benefit is payable whenever the insured dies, provided the policy has been in force.
A term life does not accrue any cash value; the premium you pay buys only death benefit. Therefore, no other return can be claimed if the insured continues to be alive even after the term. Contrarily, all other policies grow cash value and hence offer an investment opportunity as well.
After reading all these, if you feel you should avoid a term life insurance at any cost, you have plenty of companies. Or else, if you look deep into the working of life insurance policies, you will find that the term insurance is very much affordable and has some advantages too. The biggest advantage of a term life is its price structure which so reasonable that whatever is your state of finance, you will never be tempted to give up the coverage. Moreover, you can use the difference to build up your asset independent of your insurance need.
Now, let us see why a term life insurance is so reasonably priced. The fact is that a term policy rarely pays out. A very few people die premature and hence a term life policy generally expires without having to make any payment. Most other policies on the other hand make some compulsory payment in the form of either death benefit or cash value; hence, life policies are generally more expensive than term policies.
Some people avoid term life policies because they dont offer any return unless the insured dies within the specified term. They dont realize the fact that if they die while the policy is still in force, the whole life policy will retain the cash value accrued using their own money and hand over only the death benefit to the beneficiary. More importantly, they can offer the return only because one pays extra for it. If you are in confusion what to choose, better compare term life insurance quotes with other kinds of insurance quotes and then decide.
However, you should make sure the inputs you provide in a quote form are as accurate as possible. You must understand that the quotes are mere estimates and are based on the inputs you provide. The actual rates will be provided only after thorough verification of the facts. If there is any contradiction in the details you have provided, you may still get the coverage, but at a higher rate, which in turn may upset your budget. Therefore, always provide accurate inputs to avoid such harassment.
Now, let us get into the actual purchase procedure. Buying life insurance online is easy. Calculate the coverage term and coverage amount first and then visit an online broker. Then, fill up the quote form and press the submit button. You start getting the quotes from different carriers soon. Next, you choose and apply. If you have chosen your broker well, nothing else you will have to do.
The brokers representative will now enter into the picture. He will fill up missing links, arrange for medical test, see through the underwriting process and make sure you get your coverage as soon as possible and that too at the lowest possible rate. Still, it may take about four to six weeks for the entire procedure to be over. However, if you are looking for instant life insurance, that too can be arranged but you will have to pay higher rate for it.
Life insurance no exam is a term life policy, which can provide instant life insurance coverage. It is very simple. It is a fully online policy and so there is no scope for interactions with sale representatives or paramedics. Apply today and if you qualify, you start getting the coverage from tomorrow. However, since these policies do not require any medical tests, the insurance providers will not be aware of many aspects of your health and hence they charge more to overcome the risk factor. Obviously, if anything is convenient, it needs to be bit more expensive.
Article by David Livingston of EQuote, who is a specialist in everything life insurance. For more information on insurance life quote and term life insurance, visit his site today.
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