When people speak of 10 year life insurance they are usually
referring to 10 year term life insurance.
Some companies sell a 10 year endowment policy but these policies are no longer popular because of their cost.
With the 10 year endowment you would lay out more in premiums than you would for whole life insurance policies.
What will happen to your family when you die - Have they been provided for? Life Insurance is the solution and we can help. Compare Multiple Quotes from Highly Ranked Carriers and Save up to 70%! Getting your quote is easy and FREE. Click Here To Get Started
10 year term is pure insurance with no
eligibility. The premiums for this
affordable life insurance
policy usually remain level for the full 10 year period.
The death benefit also remains level and is paid out free of income taxes at the death of the insured...unless you make your policy proceeds part of your Estate. It is usually best to name a beneficiary.
Some companies allow you to renew the policy after the initial 10 year period but they usually require
evidence of insure-ability.
You may need a medical examination.
The policy may be renewed every 10 years thereafter with an increase in premium.
In some companies the policy is not renewable after the initial 10 years...but the policy has a conversion privilege that enables you to convert to a permanent policy within the 10 year period.
10 year life insurance is specifically designed for the person
who has a temporary need for life insurance.
It is used by business people to cover outstanding loans, to fund buy-sell agreements in the event that a partner or shareholder dies in the initial years of a new business, or for key employee life insurance.
It is also used by young people who are short of cash and are aggressively saving or investing...may be to buy a house or for an anticipated addition to the family...a new baby.
It therefore applies to the person who has a short term need for life insurance.
Usually the 10 year life insurance policy can be converted to any permanent life insurance policy at any time during the life of the policy. Some life insurance companies limit the conversion period to about 8 years.
There is nothing more important than your family's security. What would happen to your family if you died? Would they be provided for? Compare Top Quality Quotes and Save up to 70%! The process is fast, easy and FREE. Click Here For More
Term Life Insurance Quotation Increasing Premium Term Life Insurance Decreasing Term Life Insurance 5 Year Term Life Insurance 10 Year Life Insurance 15 Year Term Life Insurance 20 Year Life Insurance 25 Year Term Life Insurance 30 Year Term Life Insurance Universal Life Insurance Variable Universal Life Insurance Variable Life Insurance How Much Life Insurance How Much Life Insurance For Small Business Risk Appraisal Term Life Insurance Policies Life Insurance Policies Low Cost Term Life Insurance Whole Life Insurance Online Quotation Life Insurance Buying tips Best Life Insurance Quote Life Insurance And Family Protection Business Life Insurance Non Medical Life Insurance Medical Examinations Insurance Commissioners
No Medical Exam Life Insurance. What is going on here? Is this new? The way people act one would think that this is an entirely new idea.
Consider online life insurance. Buying life insurance online can be quite a simple process especially if you know how much you want and what type.
There are many pages on this website on term insurance details and how it works. What I want to do on this page is give you a basic and general outline of this policy.
You may find it a valuable experience as well as enlightening if you took some time to get a term life insurance quote on your favorite term policy.
Key employee life insurance is really a necessity.