Compare term insurance before you buy. You should compare different types of term insurance as well as the same policies with different companies.
If you intend to buy
term life insurance
to cover short term needs you should compare the yearly renewable term,
the 5 year term and the 10 year term policies and see which best fits
All three have level death benefits but the premiums are vastly different.
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If your need is long term you should look at the 15 year term, the 20 year term, the 25 year term and the 30 year term policies.
A life insurance policy is as effective as the one you choose. You want to tailor them to your particular need.
You also should compare rates for the policy you decide on between different carriers. There is a difference. The rate usually depends on the efficiency of the company. Look also at how an independent company like the A.M. Best Company rates them.
Look for carriers rated at least "A" by A.M. Best.
Check out life insurance rates. Highly Rated Carriers.
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Death proceeds from 10 year life insurance can be in lump sum form or incomr form
The 5 year term life insurance policy has been around in insurance circles for a very long time. It can be sold as a policy or as a rider to a permanent life insurance policy.
The 20 year term insurance policy is one of the most sought after life insurance policies.
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 you live to age 100.