Finding the Best Term Life Insurance Today!

Finding the Best Term Life Insurance Today!

In the old days, when you were looking for a term life insurance, the only way to purchase one was through an insurance broker or insurance agent. Okay, so the old days were really only about 15 years ago, but so much has changed in that time!

For one thing, term life insurance policies are almost 50% less expensive than they were in the recent past. So if you're looking to save money on term life insurance, one option might actually be to replace your old term life insurance policy with a new one. But now you can buy term life insurance directly from a life insurance company, and you can do it online, without ever having to meet with a pushy life insurance agent or not-so-bright life insurance broker.

It does matter what kind of term life insurance you're looking for — level term life, decreasing term life, mortgage term life insurance or return of premium term life — and regardless of the period of coverage you're looking for — 5, 10 20 year term life, or even 30 year term life insurance — it's now easier than ever to shop for, compare and buy term life insurance policies.

And make sure that you understand how term life insurance policies are underwritten. Most term life policies require you to answer bunch of medical questions and to take a physical. Other term life insurance policies can be purchased with no medical exam but with a higher premium. These policies are often called non medical term life insurance policies.

Term life insurance has a place in many people's life insurance portfolio. It is the opposite of whole life insurance. It builds no cash value; its death benefit stays level or declines; it is for short term rather than the long term; and it will most likely 'expire before you expire'. It's a great temporary life insurance protection solution until you can afford to buy whole life insurance.

Term insurance is often purchased because it is inexpensive. The reason it is inexpensive is that it only provides a death benefit, and only for specific time. According to Penn State University, 45% term life insurance policies are terminated or converted within the first year, and 72% are in three years. Only 1% of all term insurance results in death claims.

Whenever buying an individual term insurance policy, you should always seek to buy term insurance that is convertible. The policies bought through groups like an employer or a professional or an alumni association are rarely if ever convertible. Buying a convertible term life insurance at an early age guarantees insurability later, even if your health deteriorates. Whenever possible, you should seek to convert term life to whole life insurance as soon as you can afford to do so.

At BeamaLife, we've eliminated the hard work for you. We're leveraging technology and have created a one-of-a-king marketplace where a single term life insurance quote request will get you proposals from the very best term life insurance companies around. We'll help you compare term life quote, whole life insurance quotes and we will answer any questions you have about insurance policies, term life insurance riders, common insurance FAQs, and more