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?
Pure Insurance at 72
Term life insurance is also known as “pure insurance” as the insured amount is paid only on death and there is no cash value attached to the policy. This feature makes it relatively economical in comparison to other insurance policies and it is the main selling point for most insurance companies. It is this feature which makes term life insurance at 72 more affordable than other insurance policies.
Any person agrees to enroll in insurance policy for the peace of mind and much needed protection, so that his family is financially secure in case of untimely death of the bread earner. As one grows older he or she is almost certain that any day can be his or her last and so enrolling in term life insurance at 72 is the wisest decision as at the end of the term all the money that a person pay sums up to zero.
Insurance decisions change with growing age
Term life insurance may not be the best decision for a person who is in his 20’s or 30’s or is looking for an investment contract but it surely is for a person at the age of 72. There are people are not happy with the no cash value of the term life policy whereas the expense of enrolling in a whole life policy also keeps them at bay.
Keeping these things in mind there are few insurance companies who have come up with a median way. A new type of policy that is making the news is term life policy with return of premium. This insurance policy might be the answer to the questions raised by unsatisfied customers.
Since, this insurance policy is still in its mushrooming stage so let’s keep its discussion for a later stage. One needs to just fill an application form online to get enrolled in Term life insurance at 72. The whole does not take much time of the applicant. In some cases the insurer may call the applicant or make a personal visit to verify the information.
Do not lie on medical information
There are various ways to lower the premium for term life insurance at 72. People who had the habit to go through regular annual medical checkup can show this report when they enroll in term life insurance. Insurance companies do give weight-age to your medical history and base the insurance premium on it.
Another issue that needs consideration is that, people tend to lie while filling up the application for insurance. And in the past there had been several instances where the insured amount was denied by the company as the information given on the application were not true. Avoid this thing when you enroll in term life insurance at 72.