20 year term life insurance means that you have life insurance protection for a period of 20 years, and your rate will remain level for the entire duration of that 20 year term.

Also, the amount of life insurance protection stays the same each year for the 20 year period of time.

However, if you outlive the 20 year term, your life insurance policy expires and no death benefit is paid out on the policy. This is one reason term life insurance costs a lot less than permanent life insurance protect...
Continue reading ...

No, you cannot take a loan out on a Term Life Insurance Policy, unless you have a Return of Premium (ROP) Term Life Insurance Policy.

Return of Premium means you will get most of your paid premiums returned to you if you are alive at the end of your term. 

However, during the term of your life insurance policy, some insurance companies may let you borrow the money that is building in the policy from the premiums paid.

If you want life insurance that allows you to take a lo...

Continue reading ...

A whole life insurance policy may cost you anywhere from $10 or $15 per month to hundreds of dollars per month, or more.

The rate you pay for a whole life insurance policy will depend on your age and the amount of life insurance. For instance, a whole life insurance plan for a child may start for as little as a few dollars per month.

However, a larger whole life insurance policy for an adult may costs quote a bit more.

Since whole life provides lifetime coverage and may build cash value inside t...
Continue reading ...

Yes, life insurance companies will know if you smoke.

If you purchase a life insurance policy they ask you on the application form about any tobacco use. If you answer "yes", you do smoke, they will know. Also, some insurers require you to take a blood test and medical exam which will determine if you smoke.

However, there are life insurance companies that offer life insurance without any medical exams or blood testing.

But make sure you do not lie on the application for life insurance because ...
Continue reading ...

Can I buy whole life insurance without taking any health exams?

Yes, there are whole life insurance plans available with no exam needed.

In fact, some plans offer up to $400,000 of whole life insurance with no exam, while others are for seniors and provide up to $20,000 of coverage without any exam required, and offer guaranteed acceptance. 

Keep in mind, life insurance with no exam has higher rates than if you applied for a policy that does require a medical exam.

However, if you do qualify, you...
Continue reading ...

Good rates for a term life insurance policy may be $10 per month or $50 per month. It can vary quite a bit based on the amount of life insurance coverage and the length of the term for your policy.

In addition, your age and health will have a big impact on the rate you pay for your term life policy. The longer your life expectancy, the lower your rate for term life insurance.

Other factors that the insurance company will consider when determining your rate include your family health history, li...
Continue reading ...

There are several places you may be able to purchase a term life insurance policy.

Some of the more common places to buy term life insurance include:

1. Contact a local licensed independent life insurance agent.

2. Cal a life insurance company direct.

3. Visit a life insurance website on the internet.

When buying a term life insurance policy make sure to consider the AM Best financial strength rating of the insurance company, how long you have coverage (the term), how long your rate is guaranteed,...
Continue reading ...

What is level term insurance for seniors?

It's a type of life insurance that provides guaranteed coverage for a set period of time with rates that remain the same for the entire "term" of the policy.

Term life insurance may last for a period of 5, 10, 15, or 20 years for seniors, usually. So, the amount of life insurance you have and the rate you pay will remain level for the entire time (term) of your term life insurance policy.

The longer your term, the higher the rate charged for your life in...
Continue reading ...