Long term life plans may provide protection for a period of 20 or 30 years, or until you reach age 65 or 70.
The benefits of a long term life insurance plan may include the following:
1. Guaranteed level rates for the term of your plan.
2. Guaranteed level amount of life insurance with level term life insurance.
3. Lower cost than permanent life insurance.
Long term life insurance allows you to lock-in your term life insurance rate for up to 30 years. If you purchase life insurance while you are young and healthy, your rate will be much lower than the same amount of permanent life insurance coverage.
Since term life is much more affordable than permanent life insurance it allows you to buy more life insurance protection for your family. Learn more about term life insurance.