4 affordable options for term life insurance

4 affordable options for term life insurance

Term life insurance is usually the most popular option when individuals purchase policies. It is basically a type of life insurance that is fixed for a certain period, as chosen by the individual. If the policyholder dies before the term expires, his/her beneficiary is eligible to receive the insurance money (tax-free) for funeral and other expenses.

The main reasons why individuals opt for term life insurance is because it is very transparent and affordable. It is straightforward, especially for a buyer with a non-financial background. A monthly or annual premium may be paid to the insurance company to maintain the term life insurance.

Before you invest in any policy, get cheap term life insurance quotes from different insurance providers and do a comparative study. To make your job easier, we have compiled a list of the four top-rated low-cost term life insurance policies which may be purchased online:

Haven Life
Haven Life is touted to be one of the most sought-after term insurance companies with respect to quoting and purchasing of life insurance through an online portal. The coverages go up to $2 million and you are eligible for it without any medical exam. Also, since you don’t have to shell out extra money to agents, the cost of purchasing their insurance is minimal.

Banner Life Insurance
Banner Life Insurance follows standard pricing with respect to life insurance quotes. Their rates differ depending on the health conditions of the prospective customer. The rates provided by them are excellent and affordable. In fact, they are quite flexible with their age bar limit as individuals between 60 and 80 years may also purchase life insurance.

American National
With some of the best ratings in the industry, American National is also known for providing the best customer service and paybacks. Since they have been rated the best by customers, American National has a good reputation in the market. In fact, individuals with a health condition should especially look for quotes on term life insurance from American National.

SBLI
SBLI also provides some of the most affordable term life insurance plans. Their plans are available for affordable premiums ranging from $400 to $500. In fact, if the individual is below 35 years, the annual premium is approximately $223, which converts to $18.58 in a month only. These numbers have managed to bring them a long list of customers who are happy with their rates. Apart from enjoying the affordable premiums, you also have the option to convert the term policy to a permanent policy.

Recent Questions

Q1.

Do Auto Insurance Companies Check Driving History?

Answer

An insurance company may check your driving record when you are looking for a new policy, renewing your existing policy or modifying the policy by adding a new driver or additional vehicle. You may also wonder whether your driving record can prevent you from getting insurance. Your driving record check typically will not prevent you from getting co

Q2.

Do Auto Insurance Companies Share The Provided Personal Information?

Answer

When you make an insurance claim or begin the process to switch insurance companies, information about your claims history is placed into a national loss-underwriting database. That information can be accessed by all insurance companies that are considering insuring you. However, insurance companies do not share your personal information directly w

Q3.

Do only breadwinners need life insurance coverage?

Answer

The cost of replacing the services formerly provided by a deceased homemaker can be higher than you think, and insuring against the loss of a homemaker may make more sense than one might think, especially when it comes to cleaning and daycare costs.

Q4.

Do single people without dependents need life insurance?

Answer

Even single persons need at least enough life insurance to cover the costs of personal debts, medical and funeral bills. If you are uninsured, you may leave a legacy of unpaid expenses for your family or executor to deal with. Plus, this can be a good way for low-income singles to leave a legacy to a favorite charity or other cause.

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