Take a look at 20 pay life insurance.
Most people know that you buy whole life insurance if you want to be covered for the rest of your life even if it is to age 100.
The rest of your life or to age 100, they may seem to some people to be a very long time.
Can you imagine paying to age 100 if you live to that point?
Protect Your Family With Quality Life Insurance - Compare Highly Rated Carriers
Did you know that you could get the same coverage but only pay for a limited period
of time, say 20 years?
These policies are offered with a payment period of 5 years, 10 years, 15 years and 20 years. Some carriers offer payment up until age 65.
With the 20 pay life insurance policy you pay a premium for 20
years. This premium is higher than the regular whole life policy but you
are finished with premium payments in 20 years.
You have guaranteed cash values accumulating interest just like your whole life policy and they continue to accumulate after you stop paying in 20 years.
If you have a participating 20 payment life policy you even earn dividends
on your policy. Keep in mind though that dividends are not guaranteed.
They are based on how well the company does with their investments and how efficiently they keep down expenses.
Your 20 pay policy does everything your whole life policy does
but you pay only for 20 years. Now, isn't that exciting?
If you buy enough of it you need have no concern about life insurance premium payments after 20 years.
If you therefore need life insurance for life and can afford the few extra dollars the 20 pay whole life policy may fit your need.
Compare Low Cost Life Insurance Premiums - Save Up To 70%
Term life insurance is life insurance in it's simplest form. These policies stay in force for a specific number of years, for example, 5 years 10 years etc.
Whole life insurance is the plan of choice for many people. There are many variations to this plan.
Universal life insurance was designed with the express intention of combatting the venerable whole life insurance policy.
Are you looking for quality term insurance quotes? Have you determined how much you need? Do you know what type of term insurance is best for you?
In many cases it is a good idea to buy term insurance online. Some people know just how much life insurance they want to buy before they get online.