Cheap Term Insurance Plan
Cheap Term Life Insurance Policy
As all term insurance is cheap term insurance it would be easier to
write a page on which term policy is cheaper than the other.
I guess I
will give you a brief description of some of the cheap term insurance
policies and what they are used for.
There are many good, highly rated, policies to choose from. Let us examine what they are all about and what they can do for you.
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Cheap Term Insurance Policies Described
- Decreasing Term Insurance
Perhaps the cheapest of all the policies is the decreasing term life insurance policy. You would buy this policy for
If your mortgage is for 15 years you would buy a mortgage protection,
decreasing term, policy for 15 years. If your mortgage is for 20 years
you buy your policy for 20 years and so on.
The face amount of the policy decreases with, or close to, the
mortgage itself. When you die the mortgage is paid off. The premiums are
This is really cheap term insurance. I can't conceive
why any intelligent person who owns a house wouldn't buy this policy.
- Yearly Renewable Term Insurance
One of the more deceptive policies you can buy is the yearly
renewable term life insurance policy. You are looking for cheap term
life insurance so you are given a quote on the yearly renewable term or
increasing premium term policy.
This policy is really a one year term policy that you are allowed to
renew each year. At the beginning of the second year you choose to
renew. The only problem is that the premium is a little more than you
paid for the first.
It is fair because you are now older and the life
insurance company is charging you a premium for your attained age. The
premium is still cheap however.
The same thing happens again in the third, fourth and fifth year.
The premium inches up little by little. Eventually the premium gets
If you, therefore, want a cheap term insurance policy for
2, 3 or may be 4 years then this policy could be right for you but if
you need coverage for a longer period it may be best to buy a
level term policy.
The death benefit is level for the duration. The life insurance company
gives you the option of converting to a permanent type policy within a
given period of time.
- 5 Year Term And 10 Year Term Insurance
If you need cheap term life insurance for a short period of time
the 5 year term or 10 year term policy would be better for you than the
yearly renewable term.
These policies have level premiums for the
duration as well as level death benefits. You also have the option of
converting either policy to permanent insurance.
- 15 Year, 20 Year, 25 Year And 30 Year Term Insurance
These level term insurance policies can also be considered
cheap term insurance even though the premiums are higher than the
They all have level premiums as well as level
death benefits for the duration.
If you want cheap life insurance click the link below and check out the rates.
Can you think of anything more important than your Family's Security?
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