Term life insurance is one of the most common forms of life insurance purchased today. You pick the length of time you want insured and the amount of insurance, pay a monthly premium, and have financial protection during that time period in exchange for a monthly premium payment.
It will all depends on your personal circumstances. Most people tend to consider what anticipated costs for family members would be – mortgage costs, college costs, final expenses. A very simple starting point can be 3 to 5 times your annual income.
Typically, your quote and final costs are the same, if not very close. Final rates are determined after the company completes full underwriting which includes the completion of an application and paramed exam.
All insurance companies will require some sort of information regarding your health history. In order to get the most affordable rates possible, a paramed exam is typically required. There are policies available without exams, but will cost more per month. Less health information provided = higher monthly premiums. The exams themselves include:
* Blood pressure readings
* Weight and height measurement
* Urine and blood samples
* Medical history through questionnaires
Typical exams take around a half hour and are completed at testing facilities in the area.
Once you complete the paramed exam and underwriting required by the insurance company, you’ll be presented with your final quote. If that amount is more than you can afford, you are not obligated to purchase the policy.
Ready to get started? Click here to provide additional information and we’ll get you a personalized quote.
Still have questions? Want more info specific to your situation? Let us know. We’ve got answers.
The more information provided, the more accurate your quote.
We're partnered with quality term life insurance providers in order to find your the best option.
After you decide on a quality life insurance option, your family is protected and so are you.