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Term Insurance: Who needs it!

At first glance, "who needs life insurance" might seem like an obvious question. Everyone needs life insurance. However, NOT everyone needs TERM insurance. There is a big difference between Term and other life options. article continued >>

Shop your best Term Life Insurance rate. Select one of the two options below:

Option 1: Standard quotes
For Term, Universal, Whole, Survivorship and Variable Life, go here ». Just fill in 1 short form to receive up to 5 comparison prices.

Option 2: Get a free, instant, online TERM quote and request an application.

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Wonder why we want you to create YOUR OWN INDIVIDUAL HEALTH PROFILE? It's so you can be sure you're getting the most accurate life quote possible. When presenting their rates, most companies only tell you about their "preferred" rates, available only for people in excellent health—usually also non-smokers. Their rates may not reflect minor health problems or height/weight rations that would put you in a higher risk category and prevent you from getting a preferred policy. Thus, the actual premium you may be charged might not be as cheap as the idealized projection.

When your quote is personalized, you are likely to get a rate much closer to the price a company can actually offer you. To get your own personal, online quotes, fill in the box above. When you find the policy that fits your needs and budget, you can request an application using the easy application request form.

continued from above >> Term insurance is a bit like leasing property. While you pay the bill, you may be able to do what you want to it, add amenities ("riders" in insurance terms) and decide who is to profit from your lease (i.e. beneficiaries.) However, when the lease expires, you no longer have the property, and if the owner renews the lease, he can do so under different terms.

Term Life is coverage that temporarily—usually 20 years--protects your family from the financial problems that would result from your death. When the 20 years is up, you will usually have some sort of option for continuing the policy—by either paying a higher premium or accepting a lower face value. It is very inexpensive even for high face values, although the medical underwriter for higher face values is more complex. It has its place and is a good policy when purchased for the proper reasons.

While the term of the policy is limited, most companies allow riders on the policy. These could insure the spouse and children, could provide an additional benefit for accident or dismemberment, or even a disability clause. A disability rider would mean that if you should become disabled prior to a specified age, the company would pay your premium. The advantage of riders is that they can often be converted to individual policies without medical underwriting. With some companies, the conversion option includes whole life.

The following types of individuals would benefit from a term policy.