Term Life Insurance
Term insurance is death protection for a term of one or more
years. Some companies are offering policies with terms upto thirty
years. Premiums on term insurance remain level during the life of the
policy. Term Insurance has no cash value account. Death benefits will
be paid only if you die within that term of years. Term insurance
generally provides the largest immediate death protection for your
premium dollar.
Some term insurance policies are renewable for one or more
additional terms even if your health has changed. Each time you renew
the policy for a new term, premiums will be higher. You should check
the premiums at older ages and the length of time the policy can be continued.
Some term insurance policies are also convertible. This means
that before the end of the conversion period, you may trade the term
policy for a whole life or endowment insurance policy even if you are
not in good health. Premiums for the new policy will be higher than
you have been paying for the term insurance.
Rates and coverage vary form state to state so shop around on your
own or talk to an independent insurance agent to make sure you get a
plan that's right for you. For more information and rates on term
life insurance visit our specialist site below.
