Term life insurance

Life insurance is a product meant to be used as a financial safety net in difficult situations. Should something happen to you or to the insured, the selected coverage will be available for the beneficiaries. Making claims on the policy becomes possible after an initial sum of money has been invested into the annuity (it normally requires 2 years of payment).

Term life insuranceThus, protection can be available for everyone with the minimum of effort. Nowadays, more and more people have decided to seriously take into consideration the possibility of purchasing Whole life insurance quotes, making the marketplace more aware of customer needs and expectations. Policies have been designed for all audiences, ranging from toddlers (baby insurance) to elders (senior or no-exam policies).

There are two main types of annuities: whole life and term life insurance. Whole life policies offer unlimited protection at an equivalent fee, while term policies offer coverage for an implied amount of time. Whole life annuities are, naturally, more expensive than term policies, because they guarantee a pay-out, increasing the risk undertaken by the policyholder.

Term policies, as i mentioned earlier, offer protection for a specific amount of time. Following this reasoning, if the insured outlives his policy he won’t be entitled to receiving the death benefit or any of his money back. This is considered to be the major downfall of term insurance. However, given the cheap rates and the efficient protection, most consider term life the best insurance investment you can make.

Variations of term insurance exist in many forms. Among them there is no-exam protection. As you probably know by now, in order to become insured you have to undergo a meticulous medical examination meant to evaluate how much of a „threat” you are to the interest of the company. Your rates will subsequently be settled. If you feel that your medical situation might obstruct your pursuit of the ideal insurance policy, you can opt for policies such as guaranteed acceptance or simplified issue insurance and receive the desired coverage at quite a spicy cost. Thus, we advise you to see no-exam insurance as your last resort.

For more information about term insurance and a free online insurance quote, click here! The ideal policy might be just around the corner.