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?
Decision on Term Life Insurance at 67
In majority of the cases insurance is considered as an unnecessary expenditure by people at any age. For most of us it is not more than a piece of paper unless the uneventful happen. It is then that this inconsiderate piece turns into one of the most essential document. Term life insurance at 67 is seen from the same perspective.
Many people at this age are almost done with their family obligations, so putting money in another insurance policy is not considered as essential. But unless you have accumulated considerable fortune it is better to have someone, who can take care of your funeral and burial expenditure. Even if you have good amount of assets it still makes sense to enroll in it.
Low Cost Term Life Insurance
The cost factor does not make much difference to those who can afford high monthly premiums. And if you are not rich enough there is a reason to lose your sleep, as to who will take care of burial expenses when you die. So in both the cases getting enrolled in it is a good idea. Generally premiums are much less in comparison to cash value policies.
Term life coverage at 67 provides sufficient coverage to take care of all the needs of your loved ones in case you die prematurely. These policies are bought for a specified period usually for five, ten, twenty or thirty years. During this period the insured person is required to pay a specified premium.
Facts about Low Cost Term Insurance
There are certain aspects which you should have complete information about. For instance, the death benefit depends on whether the person has chosen increasing level or decreasing term insurance. So the insurance amount can vary during the term of the plan.
One must also consider the option of renewable and convertible term insurance; the insured person will need it when the term life insurance expires. For example, a person gets enrolled in a plan whose death benefit remain stagnant throughout the term, as the term of insurance expires the person would like to convert it into another policy, without taking the premedical examination. In that case the person is required to enroll in level term convertible life insurance.
You should ask questions to clarify the doubts. The commission is less than cash value policy. So you will have to push the agent for more information.