What is the most affordable life insurance coverage?
The life insurance offering the most affordable price depends on how long you need the coverage.
If you need guaranteed lifetime life insurance protection your only option is permanent life insurance which would allow you to lock-in the lowest rate now and guarantee you pay the same rate for your entire lifetime.
However, if you only need life insurance for a period of 30 years or less, the most affordable life insurance plan would be a level term life insurance policy for a period of time (term) that you actually need your life insurance coverage to last.
Level term has level premiums each year for the term (duration) of your policy. And, your amount of life insurance does not decrease or increase during the term of your policy - it stays the same.
The shorter your term for coverage, the lower your annual premium.
Most level term life insurance plans offer coverage for a term of 10, 15, 20, 25 or 30 years.
Here's how to compare level term life insurance rates online.
The life insurance offering the most affordable price depends on how long you need the coverage.
If you need guaranteed lifetime life insurance protection your only option is permanent life insurance which would allow you to lock-in the lowest rate now and guarantee you pay the same rate for your entire lifetime.
However, if you only need life insurance for a period of 30 years or less, the most affordable life insurance plan would be a level term life insurance policy for a period of time (term) that you actually need your life insurance coverage to last.
Level term has level premiums each year for the term (duration) of your policy. And, your amount of life insurance does not decrease or increase during the term of your policy - it stays the same.
The shorter your term for coverage, the lower your annual premium.
Most level term life insurance plans offer coverage for a term of 10, 15, 20, 25 or 30 years.
Here's how to compare level term life insurance rates online.
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