Low Cost Term Life Insurance Quotes

We offer low cost term life insurance quotes for all types of individuals. Regardless of your health record or age, we will do everything possible to find the best term life insurance rates for you. Our quote engine will search a database of the most competitive carriers in the industry to offer you the opportunity to save 30% - 70% on your life insurance policy!

Facts About Term Life Insurance

What is term life insurance?

Term life insurance is the lowest cost and simplest product available. Term insurance is a life insurance contract that provides protection for a limited number of years. The death benefit is only payable if death occurs during the agreed-upon term. If the insured survives the time period, the policy expires. This means it has no cash value. However, some policies have a convertible feature permitting a policy owner to exchange a term policy for a cash value policy without evidence of insurability. Term is basically designed to provide a maximum amount of protection for a temporary period of time.

Characteristics of term life insurance

Term insurance is sold in a number of forms and for a variety of reasons. The most common type is Level Term. This form has a level (or constant) death benefit and a level premium for a specified number of years. The most common terms are 1, 5, 10, 20, and 30 years. Decreasing Term is another version of term life insurance. It is generally sold with a level premium and a decreasing death benefit. A variation of decreasing term is Mortgage Life Insurance. This is designed to decrease at the rate in which a mortgage balance decreases. Mortgage Life is typically offered as a rider in connection with a cash value policy.

Who should consider term life insurance?

Term life insurance is ideal for families where protection is needed, but a minimum outlay of funds is necessary. Term insurance also works well as a supplement to cash value insurance. Another common purpose of term life insurance is to purchase it as protection against debts such as mortgages, auto loans or education loans.

Are there drawbacks to term life insurance?

On the negative side, term insurance provides only temporary protection, and there may come a time when an insured has no protection after the term policy ends.

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