Increasing Premium Term Life Insurance

Yearly Renewable Term Is Increasing Premium Term Life Insurance

Increasing premium term life insurance, otherwise known as yearly renewable term life insurance or annual renewable term life insurance, is one of the purest forms of life insurance.

You begin your life insurance policy with a very low premium for your age and as you get older your premium goes up...it increases.

What the life insurance company is doing here is charging you a premium based on your life expectancy for that particular year.

Increasing premium term life insurance is a fair and honest way to assess life insurance costs.

---

What will happen to your family when you die? Have they been provided for? Life Insurance is the solution and we can help. Compare Multiple Quotes from Highly Ranked Carriers and Save up to 70%! Getting your quote is easy and FREE. Click Here And Save

---

The following year your premium will increase because the life expectancy for you one year later is less than the year before. Here is an example.

At age 25 you may pay $10.00 per month for $100,000 of life insurance but at age 26 you would be charged $12.00 for the same policy. The reason is that you are more likely to die at age 26 than at age 25.

Your increasing premium term insurance policy, like all term life insurance policies, accumulate no cash values.

• Level Face Amount
  
  The face amount of your yearly renewable term life insurance policy remains level for the entire duration of the policy. It never decreases. If you were to keep this policy up until age 90, assuming the policy allows for that, the face amount remains the same.
  
  You do not need any evidence of insure-ability after the first year. Once you have it they cannot take it away from you. Let us assume that at the end of 2 years you develop a terminal disease.
  
  You know you are going to die in a few years or even months, and the insurance company also found out that you are going to die, they cannot take away your policy. When you die they pay the face amount, no questions asked.
• Conversion Privilege
  
  If you need a large amount of insurance for a short period of time increasing premium term life insurance may be the way for you to go.
  
  It is recommended that you take advantage of the built in conversion privilege at the earliest possible date as this type of policy could end up, in the long run, being quite expensive because of the nature of the beast...the premiums increase.
• Waiver Of Premium Rider
  
  A good, and inexpensive, rider you could add to your increasing premium term life insurance policy is the waiver of premium benefit rider.
  
  I you were to become disabled, anytime after 6 months of disability, the life insurance company will pay your premiums for you even if it is for the rest of your life.
  
  That is awesome, isn't it? Statistics show that people become disabled, for a short period of time, at least 5 times during their lifetime.
  
  Sometimes they loose quite a bit of their net worth during that period of disability. With this rider you would at least be able to keep your life insurance.
• The Accidental Death Benefit Rider
  
  Costing a little more than the waiver of premium benefit is the accidental death benefit rider. This is sometimes referred to as the double indemnity rider.
  
  If you should die in an accident the life insurance company will pay twice the face amount of the policy. You own your increasing premium term life insurance policy with a face amount of $1,000,000.
  
  You have an automobile accident...you are dead. Your beneficiary will receive $2,000,000 from the insurance company.
  
  No one wants to die in that manner, but it would be nice to know that your family gets $2,000,000 if you go that way, wouldn't it?

Increasing premium term life insurance fits neatly in some situations.

---

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

---

Term Life Insurance Quotation Increasing Premium Term Life Insurance 5 Year Term Life Insurance 10 Year Life Insurance 20 Year Life Insurance 30 Year Term Life Insurance Decreasing Term Life Insurance Term Life Insurance To Age 90 Term Life Insurance At Retirement