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Affordable Life Insurance Policy

Affordable Term Life Insurance Policy

If you are looking for an affordable life insurance policy look no further, this is where the action is.

On this site you not only find your affordable life insurance policy but you will get detailed descriptions of policies you can compare.

You will find the explanations very helpful in making your decisions.

We also take the time to illustrate why most people buy each type of policy, how they fit into your particular situation.

What will happen to your family when you die? Can they continue on? Compare Multiple Life Insurance Quotes from Highly Ranked Carriers and Save up to 70%!

Affordable Life Insurance Policy Types

  • The Decreasing Term Life Insurance Policy

    Although many life insurance policies can be used to pay off a mortgage balance in the event of death the decreasing term life insurance policy is the best known and most used. This is truly an affordable life insurance policy.

    If you, for example, made a down payment of $60,000 on a $200,000 house you would initially owe the mortgage company or bank $140,000. You would pay off the balance over a 20 year period.

    You want to be certain that your family would get the house free and clear in the event of your death. Your concern is that you want to be assured that your wife and children can continue to live in the house even if you are not there...

    Decreasing term life insurance, a very affordable life insurance policy, was specifically designed for such an eventuality. The face amount of the policy decreases in a uniformed manner. Upon your death the balance owed would be paid off.

    The fact is your beneficiary would be paid the money by the insurance company and she would in turn pay the bank or mortgage company. If you choose an alternative arrangement can be made to pay these financial organizations directly.

    The premiums are very affordable. This is truly an affordable term life insurance policy. There are other policies that can used to do the same job...
  • The 20 Year Term Insurance Policy

    The 20 year term insurance policy is another affordable life insurance policy that is often used to pay off a mortgage balance in the event of your death. This costs a little more than the decreasing term policy but the additional premium may be worth it.

    The death benefit does not decrease like the above-mentioned policy. It remains level for the entire 20 year period...

    Now let us assume you died after 15 years. Let us use the above situation as an example. With the decreasing term policy all that would be paid upon death would be what is owed. In the case with the 20 year level term policy the entire $140,000 would be paid to the beneficiary.

    The beneficiary would pay the amount owed and keep the balance. I believe you will like the 20 year, level face amount, policy. The premiums also are level...they never increase.
  • The 30 Year Term Life Insurance Policy

    Another very popular life insurance policy is the 30 year term life insurance policy. The benefits of this policy are very similar to the 20 year term policy but with one difference. The duration is for 30 years instead of 20 years. The premiums are a little higher than those of the 20 year term policy but still low enough to be considered an affordable life insurance policy.

    This policy is used for other types of situations. You are a parent, you have two children ages 3 and 5 for example. You want to be assured that they will be well taken care of financially until they graduate college.

    You know that as long as you are alive you will be able to fulfill this desire, but what would happen to them if you died prematurely? The 20 year term policy or the 30 year term life insurance policy can be used to take care of this eventuality...

    What you need to do is to buy a large enough life insurance policy to guarantee a sufficient lump sum or income. This income should be an amount equivalent to at least 60% of your present earnings until your 3 year old graduates college. The cost is much less than you may think...check it out.

    Business people often need an affordable life insurance policy especially if the business is fairly new. They may need a policy to fund a buy-sell agreement or for key employee life insurance.

There is nothing more important than your family's security. Make certain that they are protected when you die? Compare Quality Quotes and Save up to 70%!

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