Do You Have Term Life Insurance Questions
Reader’s Question:
My job here in Illinois frequently requires me to travel so I’ve decided to get a life insurance policy. I am wondering if you can tell me more about term life insurance? Thanks!
Sam
Naperville, IL
Term life insurance is a form of life insurance meant to be maintained only for a certain period of time. This type of life insurance policy awards the agreed upon payment, benefits or income to the beneficiaries listed under the life insurance policy only upon the demise of the insured individual while inside or within the duration of the policy. Term Insurance will actually cost you less, as compared to whole life or universal life insurance policies so it is highly recommended that people looking to get life insurance for the next five, ten, twenty, even thirty years, those raising a small family or paying mortgage.
If you do decide to get a term life insurance there in Illinois don’t expect to be paid any lump sum amount after the duration of your insurance. This is one of the drawbacks of term insurance since the money you put into it does not go into any investments, nor are there any savings or loan features usually available. Also, not all term life insurance will require you to undergo any sort of medical screenings. Term Insurance policies may also be renewable and may even be convertible, meaning you can opt to switch into a permanent or whole life insurance policy should you become interested in the future. For people whose careers or job pose some risk to life and who is not looking into spending too much on life insurance premiums, term life insurance is a very good option.
Looking For Term Life Insurance?
Reader’s Question:
My wife and I recently got divorced, but we still want to buy an insurance policy to cover our children. My life insurance agent here in North Carolina suggested term life insurance. What are its advantages?
Victor
Charlotte, NC
I appreciate your concern for your children, Victor. And your agent has a point in offering term life insurance. It is a better choice because it is flexible and it is renewable. It is logical to get a term life insurance because it allows you to provide coverage for your children while letting you fulfill your financial obligations to one another.
Since it is not a permanent type of life insurance, it only provides coverage for a specific period of time. So, you have the option of extending the scope of your dependents’ beneficiaries as you go along or as your finances allow you. It is a cheaper alternative to whole life insurance wherein the premiums are generally higher. Term Life insurance is more affordable, and some companies may even provide coverage for your children until they reach the age of 21.
Another reason why term life insurance is more suited for you is because they give you the option of naming and renaming your beneficiaries. The insurance company does not need to know that you have been through a divorce, so you can keep your affairs private.
You and your agent should be able to find a company that is capable of providing for your specific needs. I’m sure there are companies in North Carolina who are dependable and competent in providing a term life insurance that will tailor-fit your situation. Good luck!
Tags: life insurance, term life insurance
Smoker Life Insurance Texas TX
Reader’s Question:
I’m a smoker living in Houston, TX. Will it be difficult for me to get a term life insurance?
Malcolm
Houston, TX
Good question Malcolm. I don’t think that it’s difficult for smokers like you to get a term life insurance, but it’s not going to be easy as well. You have to consider the fact that smoking’s financial costs commonly have a negative impact on a term life insurance policy. Insurance companies know the high level of risk involved when they offer term life insurance so that is why it’s costly for smokers to get a policy. This is because habitual smoking poses a higher certainty that smokers will suffer more serious diseases in the future and even a higher possibility of death.
On a term life insurance, smokers are usually assigned higher rates than non-smokers. Today, smoking is one of the leading causes of deadly illnesses like cancer. And because of these risks in health conditions, a smoker becomes a high health insurance risk that in effect, leads to higher premium prices.
Smoking cigars, cigarettes, pipes or tobacco chewing are all included in determining your smoker’s insurance rates. All these can be easily determined by a simple urine test to measure your nicotine levels. So be sure to be honest with your application or else you might not get sufficient benefits. Feel free to contact your local agent there in Houston to know more about premium rates for smokers.
Tags: life insurance, life insurance rate, smoker life insurance
Term Life Insurance Quotes
Reader’s Question:
When would it be a good idea to get term life insurance? Is it available here in Albany Georgia GA?
Margaret
Albany GA
Life insurance is available in most places in the US, including Albany Georgia GA. Now, on whether or not it is a good idea to get temporary insurance or what is known as term life insurance vis-à-vis permanent or whole life insurance, depends on what your needs are. To help you analyze your needs, I suggest you think about these things: do you want a life insurance policy that is renewable on an annual basis or something that you can consider as savings and which accumulates money over time? How much are you willing to spend on premiums? Does your work enable you to commit to the payment of these premiums on a regular basis?
If you’re only starting to build a career and do not yet have a stable job, you may consider term life insurance. Often, permanent life insurance requires the payment of set premiums over a period of about ten years and if you cannot complete your payments then your policy is terminated and your investments all go to waste. Conversely, term life insurance allows you the flexibility of limited period coverage for one-time payment. If you still have money the following year, you can probably renew your term life insurance policy. No pressure.
Margaret, I think it will benefit you a lot to get some free term life insurance quotes just by keying in your zip code on the online form here. It will give you an idea of what is available in Albany Georgia GA and how much the consequent premiums will be. You can look into instant life insurance or no exam life insurance, which some insurers offer to make the purchase of a life insurance policy as convenient as possible.
Tags: life insurance, life insurance online, life insurance quote, life insurance rate
Teen Term Life Insurance Rates
Reader’s Question:
My teenage nephew is going to stay with me for the next few years here in Seattle Washington WA. Is there some kind of accident or life insurance that would provide him coverage while he’s here? He’s a real handful and I don’t want to have to constantly worry about things like that.
Jocelyn
Seattle WA
Hey there, Jocelyn! It’s good that you’ve thought about this. Teenagers do tend to become a bit of a handful. They constantly want to try new things, without thinking whether they’re putting their lives in danger.
But, do not worry, Jocelyn, with the variety of life insurance products available in Seattle Washington WA, I’m pretty sure you’ll be able to find what you need. From what I gather, your nephew will only be staying with you for a limited time, right? Unless you want to buy him a whole life insurance, you may want to consider looking into temporary or term life insurance instead. Term life insurance can provide life insurance coverage for the period that he’ll be staying with you, and it can be cheaper than whole life insurance, too. Some insurers in Seattle Washington WA even offer riders for accidental injuries or, possibly, a combination of health services accessible during the same period. Of course, the premiums will vary depending on the extent of life insurance coverage you want your nephew to have. You can also opt to purchase the insurance for your nephew instantly online. Instant online insurance can make things more convenient for you.
I suggest you take a look at the conditions and costs of available life insurance packages in Seattle Washington WA by keying in your zip code in the form on this page. Quotes may be requested free of cost so take advantage of this opportunity.
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