Buying Term Life Insurance

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How Can I Get the Best Rates on Term Insurance?

Buying Term Life Insurance

Use the following tips and strategies to save on life insurance.

Tip 1. Consider Low Cost Term Life Insurance

• Low cost term life insurance is available for as little as one year or for as long as 30 years. Longer policies carry lower term life insurance rates.
• Insurance shoppers should be aware that this most basic coverage does not include an investment component, but it is still a good choice. Term life insurance offers the convenience of set payments, which means no surprises.
• Policy holders can expect that beneficiaries will receive the face value of the policy. The good news is that there are many affordable life insurance policies available with values in excess of $1 million.

Tip 2. Get Several Term Life Insurance Quotes

• Believe it or not, the rates for similar (and sometimes even the same) coverage between insurers can span several hundred dollars. Shop around for the most affordable term life insurance quotes before you sign on the dotted line.

Tip 3. Use an Insurance Calculator for Accurate Term Life Comparison

• An insurance calculator can help you determine how much value you will get from your policy based on the price you expect to pay.
• When comparing policies be sure to make all things equal to get the most accurate picture (in other words compare apples to apples).

   

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