Advantages Of Term Life & The Way To Find The Cheapest Term Life Rates?

In general when you're making a purchase, the more bells and whistles you want

, the more it's going to cost you. And that's true of term life rates as well. The most simple and straightforward type of life insurance is term life insurance. But you can make it little bit more complex and pricier by adding riders like accidental death benefit rider, waiver of premium rider and child rider.

Term life is life insurance at its purest and least expensive at least initially. You get a policy with a coverage period that ranges from 1 30 years, and a very low initial term life rate. There's no cash value build-up with a term life policy because you're paying only for the death benefit, which is the amount of money the policy will pay in the event of your death.

When money is an issue or cash flow is tight like when you're young, or starting a family, or just plain have a tight budget for a while term life lets you buy a lot of insurance for very little money with most affordable term life rates. That's important because for a while you might need a lot more insurance than you are able to pay for with other types of policies. Term life is also a great solution when you need lot more coverage, but only for a certain period of time. Many people buy term insurance to cover a mortgage or any other loans, for example, or while there children are approaching or in their college years. Term life has many business uses as well. For example, term life is frequently used for business loan and business buy-sell agreement. If business has right cash flow then permanent insurance especially whole life insurance is the best to fund buy-sell agreement but when money is tight for business, the term insurance is the way to go!

Term life is also great for protecting your insurability. Insurability means your ability to purchase more life insurance on medical underwriting ground. When you are young, you are in a great shape but do not have enough money to purchase whole life insurance policy. But later in the life you will have certain money to purchase whole life insurance policy but you may not be in a great health to qualify for the best underwriting class or even to get any kind of coverage! If you would have bought convertible term insurance when you was young and in a great shape, then you can convert your term policy in the permanent policy like universal life insurance or whole life insurance without any further medical underwriting and the same best underwriting class.

Term life and whole life blend is also powerful strategy to have maximum possible permanent life insurance protection with guaranteed minimum premium. BeamaLife Specialists are expert in designing optimum blending life insurance policy for you and your family's security. Term life insurance is a start but whole life insurance is the destination and will help you create a very tax efficient financial asset. Whole life puts life in your term life insurance policy.

Simple term life insurance protection can come with some bells and whistles, too, and make it an even more attractive option for your financial needs. One example is the relatively new Return of Premium (ROP) or Money Back feature, which results in your getting back your premiums if you're still alive at the end of the coverage period. Please call one of our life insurance specialists at (877) 972-3262 to determine the right kind of life insurance for you and for your family's financial security & to find the best, cheap and most affordable term life rates or please complete term life rate request form now.

by: beamalife

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