Term Life Insurance Explained

What Is Term Insurance Really About?

Home

What is term life insurance? You have an interest in buying term insurance, that is why you are reading this article, and you want to know how it really works. Right? Well, there are many types of term insurance and I am going to give you a brief explanation as to how some of the most popular term policies work.



Don't pay too much for life insurance! Shop and compare Quality Quotes from Quality Carriers first. Just answer a few quick questions then get your Quotes. The process is Easy and FREE. Click Here For Free Quotes


  • Decreasing Term Insurance

    Decreasing term is very popular with home owners and mortgage companies. The homeowners want to know that the mortgage is paid off if they should prematurely die, and the mortgage company want to be assured that they are repaid the money loaned to the homeowner. The face amount of these term life policies decrease in a uniformed manner each year as the balance owed on the mortgage decreases, and the premium remains level. This is very inexpensive life insurance.

  • Increasing Premium Term Insurance

    This is initially the cheapest life insurance you can buy. The death benefit remains level for the duration, however, the premiums increase every year and as a result this may turn out to be the most expensive term policies you can buy. If you should purchase this policy it would be wise to convert to a level plan as quickly as possible.

  • 5 Year Level Term Insurance

    The face amount of this 5 year term life policy remains level for the entire 5 year period and so does the premium. Upon death the face amount is paid either in one lump sum or in the form of an income. If you have a short term need for life insurance, like covering a bank loan, then this may be the plan for you.

  • 10 Year Term Insurance

    Like the 5 year term policy, the 10 year term life policy can be used to cover a bank loan, but it can do considerably more. It can be used for family protection and a myriad of other needs. The face amount of the policy remains level for the duration and so does the premium. Some companies allow you to continue the policy after 10 years with an increase in premium.

  • 20 Year Term Insurance

    The 20 year term insurance policy is probably the most popular of term life policies. The death benefit remains level for the duration and in some cases so does the premium. With some companies, however, the premiums increase after the first 10 years to reflect the cost of the additional risk to which the insurance company is exposed as the insured gets older. All in all, the 20 tear term life insurance policy is fairly inexpensive and does the job it is intended to do.

    Unlike whole life insurance , universal life insurance or variable life insurance , term life insurance does not have cash values or earn dividends. There is a fairly new type of term insurance policy, however, called a return of premium policy which returns all your premiums at the end of the term period, if you do not die. The premiums are so high it may not be worth your while to buy this type of term policy.



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 Quality Quotes and Save up to 70%! The process is Fast, Easy and FREE. Click Here To Learn More


Home Term Life Insurance; What Is It All About? 15 Year Term Insurance 25 Year Term Insurance 30 Year Term Insurance Financial Planning Life Insurance Quotes Whole Life Insurance Retirement Planning Estate Planning Mortgage Insurance Universal Life Insurance Long Term Care Insurance Disability Insurance Whole Life Insurance Quotes Cheap Life Insurance Life Insurance Companies Cheap Term Life Insurance Life Insurance Policy Level Term Insurance Term Insurance Online Life Insurance Life Insurance Policies Low Cost Life Insurance Whole Life Insurance Quote Term Insurance Rates Life Insurance Rates No Load Life Insurance Life Insurance Rate Burial Insurance Fixed Annuities Life Insurance Quote Online

Licensed Agent

Get Assistance: 877-211-8530

Tools And Resources

Life Insurance Need Calculator

Get Life Insurance Quotes