Term Life Insurance Q&A
- Why should I choose BeyondQuotes?
- Which companies do we represent?
- Is BeyondQuotes licensed where I live?
- Is my information confidential?
- Do you only offer rate quotes?
- How do we choose which companies to represent?
- How much Term Life Insurance do I need?
- What are "level" policies?
- What should be the term length?
- Is it worth insuring my spouse on my policy?
- Can you explain the difference between Term and Whole Life plans?
- I suffer form a pre-existing condition. Can I still be insured?
Applying for a Policy
- How do I apply for Term Life Insurance?
- How do I find the best value plan for my needs?
- What is the waiting period between applying and coverage?
Shopping Recommendations for Term Life Insurance
People who do not have sufficient funds to purchase insurance at high premiums can get coverage in the form of term life coverage at 66. It strengthens the case of those who have limited source of income to buy life coverage. For example, a person at the age of 66 and without a job and living on the retirement benefit can think of enrolling in it for as little as two dollars a day
At the age of 66 majorities of the people do not have any loan obligations or neither have they to go for higher education. At this age all they have to worry about is funeral or burial expenses. And any responsible person will certainly not leave his or her burial expenses on his or her children.
Before Shopping for Term Life Insurance at 66
Many people use term and whole life coverage interchangeably or just life insurance as they are unaware of the difference between them. Term life insurance covers a person for a specified period of time usually for 30, 20 or 10 years. The benefits of the coverage end after the expiry of the policy unless the policy is renewable.
You need to pay a higher amount at the time of policy renewal. The age factor would make the underlying difference in the end. The premium amount would undoubtedly be higher in comparison to what you have been paying in the past. You should read all the details carefully before investing in a plan.
Term life coverage at 66 is an excellent financial vehicle to get the maximum value for your money, at least in the initial period. It is a wonderful instrument for families who still have financial obligations but do not have sufficient assets to fulfill them in case they die prematurely.
Recommendations for Shopping Term Life Insurance
The most common types are:
- Websites that ask for personal information from the person and in majority of the cases they sell them as a “lead” to brokers or insurance agents.
- Direct marketing websites that ask for information such as your name and email-id to provide the insurance quotes.
- Anonymous websites that allow open access to their database and have instant quotes available to make the whole process easier for senior citizens.
With clear understanding in mind on the type of website you are looking at it will be easier to search what you are looking for. To begin with, first go to anonymous website and have some idea about the rates than go to direct marketing websites.