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Term life insurance
Cheapest product amongst life insurance
Which policy is best for you
What is Term-Life Insurance?
Term-Life, otherwise known as pure risk insurance, is an insurance policy that lasts for a particular period of time. The typical length of the policy can be 5,10,15, 20, or 30 years depending on the insurance company. Also, your age when you request a quote from an insurance carrier plays a role in the length as well.
Increasing life insurance
This policy is a term life policy which means that it only lasts for a few years. However, as the name suggests each year your premium increases.
This helps to protect against inflation by allowing for the coverage to stay level with the cost of living.
Decreasing life insurance
Premiums in a decreasing life insurance policy decrease for the length of the policy until it reaches $0. This policy serves as a method that allows an individual to start with a large policy and watch it decrease over time until they don't need it anymore.
Return of premium term life insurance
Return of premium term insurance is truthfully no different than a standard term policy without one exception, it returns your premiums. Depending on the policy up to 100% of the monthly premiums you paid will be returned to you at the end of the policy.
other policies
Single premium insurance
- Single premium term life insurance is a form of insurance that's paid in one lump sum.
Convertible term insurance
- Convertible term insurance is a form of insurance that allows someone at the end of their term life insurance policy to convert it into a Whole-Life insurance policy. This policy also allows no medical exam needed for the conversion.
Term insurance with child rider
- Various term policies will allow a child rider to ride along with the policy, which states the owner of the policy is allowed to purchase a small life insurance policy on their child and pay for the coverage along with the original policy.