Term Life Insurance Cost: It can be less than a caffè latte per day!
Term Life Insurance Cost: Many people assume that all life insurance is expensive. This is simply not the case. Term life insurance is often the most affordable way to purchase a death benefit and protect your loved ones.
For example: A 35 year old female in excellent health can purchase a $1,000,000 death benefit for a term length of 20 years for $380 per year. That is $1.04 per day, which is quite a bit less than the cost of a morning latte. A 30 year term policy can be purchased for as low as $680 per year, which is $1.86 per day!
A 35 year old male in excellent health can purchase a $1,000,000 death benefit for a term length of 20 years for $442 per year. That is only $1.21 per day. A 30 year term policy can be purchased for as low as $815 per year, which is $2.23 per day!
These quotes are from an insurance carrier that has an A+ rating from A.M. Best rating agency.
Term Life Insurance Cost (continued):
Term Life insurance quotes are based on your age, health, death benefit amount desired, and the term length desired. If you are a smoker you may still qualify for term life insurance. Most all term life insurance policies have a level premium amount. So the premium does not change from year to year. To find out how much term life insurance you need, here is a simple checklist to reference. You can also drop your term life insurance policy at any time. For instance, if you buy a 30 year term policy you are not required to keep the policy for the entire 30 year term. There is no penalty for dropping a policy. Once you discontinue paying premiums the policy terminates and there is no death benefit coverage. However, if you do wish to keep the policy for the entire 30 year period, the premium amount is level and will never increase during the entire term length. You can add another policy at any time. As your financial needs change you can buy another term life insurance policy. It is a good idea to review your coverage to maintain the proper amount life insurance.
At Secure Term Insurance we are insurance brokers offering free quotes and personalized service with step by step guidance throughout the application process, underwriting process, and any assistance you may need thereafter.