Jan 27
The basics of term life insurance
Term life insurance is often pure insurance protection. This means that it does not have a cash value feature. It covers you for a specific period of time – usually 10, 15, 20 or 30 years. If you don’t die within the term there is no pay-out of the policy.
Unlike credit card life insurance or mortgage life insurance, term life insurance covers all kinds of debts. If you have children, term insurance can protect your family’s finances, providing money for college and living expenses if you die before your children are fully grown.
In most cases, an exam may be required. This exam will be paid for by the life insurance company and will be done at your home or office at a time that is convenient for you. The results of your exam, which typically includes a blood test, can greatly impact the price of your life insurance.
(No Ratings Yet)
Loading ...
Print This Post
January 28th, 2009 at 10:41 am
Also, term life insurance rates have declined quite a bit over the past decade according to a study performed on behalf of the Insurance Information Institute in September, 2007.
That means, if you compare new rates for term life versus your any existing policy you have, you may be able to save some money on your monthly bills by considering a new policy.
January 28th, 2009 at 2:56 pm
Good post. I encourage everyone to submit to a medical exam because if you are fairly healthy and not extremely overweight (and don’t have extremely high cholesterol or blood pressure), it can help you. It is a simple exam and nothing to be feared.