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?
Buy Term Life Insurance Before It Gets Expensive
Want to buy a term life insurance? Now is the right time to go for it. If you don't buy it now, it might become a costly affair later on. A lot of insurers are mulling over to raise the premium rates. Industry observers opine that in order to make a good profit, majority of the insurance companies will hike their premiums by as much as 50%.
Statistics reveal there has been a 5-10 per cent rise in the life insurance policies. And while the premiums are still reasonable, you should go and buy one. The premium rates for renewable term insurance, a type of term life insurance, have not increased and there's a strong likelihood that they won't. But who knows, so it is better to make hay while the sun shines, right?
In order to buy an inexpensive Term Life Insurance policy, keep the following things in mind:
Get quotes from different insurers-Obtaining quotes from various insurance companies will help you pick up a term life insurance that works best for you. This task gets easier with internet. You can surf through as many insurance providers and settle for the one that takes care of your family's needs in your absence and is affordable too.
Try and look for diverse coverage amounts - Doing proper research is important. And do not forget to look for insurance policies that offer different coverage amounts. Checking out different plans by various insurance companies always helps to secure a good deal.
Lock in your policy-Once - You have made up your mind about the insurer, Term Life Insurance policy and rate, just freeze it. When you have locked this rate, you will be entitled to the insurance coverage that you have been promised. And if the insurer decides to increase the rates in future, you will remain unaffected by the hike.
Once you have completed your homework, do not wait any longer. You never know when the insurers decide to alleviate their premium rates and you end up cursing your procrastinated decision.