多くの場合、特に若くて健康な人にとっては、定期生命保険が通常考慮されます。
これにはいくつかの理由があります。
まず、期間は通常、市場で最も手頃な生命保険の補償範囲です。
これは、定期保険には純粋な死亡給付金の保護のみが含まれ、現金価値や投資要素は含まれないためです。
ほとんどの人が知らないのは、タームポリシーは健康状態の悪い人にも役立つ可能性があり、資格を得るのが簡単な健康診断なしの生命保険ポリシーを見つけることができるということです。
定期保険では、一定の期限、つまり「定期保険」で保険を購入します。
たとえば、ポリシーには通常、次の条件があります。
定期保険の期限が切れると、被保険者は通常、補償範囲を更新したい場合、補償範囲の資格を再取得する必要があります。
この再資格は、被保険者の当時の年齢と健康状態に基づいて決定されます。
このため、新しいポリシーで請求される保険料は通常高くなります。
期間は、「一時的な」ニーズをカバーしている人にとって、良いタイプの生命保険の補償範囲と見なすことができます。
たとえば、個人は、30年の住宅ローンが、死亡した場合に生存者に確実に返済されるようにしたい場合があります。
したがって、彼らは住宅ローンの残高の金額で死亡給付金を伴う30年の保険を購入することができます。
このシナリオでは、住宅ローンの残高が返済されると同時にポリシーが期限切れになります。
選択したオプションに応じて、定期保険の見積もりの保険料に非常に異なるコストがあることに気付くことができます。
市場にはいくつかの異なるタイプのタームポリシーがあります。一部は特定の保護ニーズに固有のものであり、それらの異なるオプションは、タームライフの見積もりが引き出されたときに非常に異なる保険料につながる可能性があります。
喫煙者の生命保険の保険料も異なって見える場合があります。
利用可能な定期生命保険の一般的な種類を説明するために理解すべき定期生命保険のいくつかの機能があります：
最も一般的な定期生命保険は、保証されたレベルの保険料です。
このタイプのポリシーは、月額保険料がポリシーの全期間にわたって変更されないことを保証します。
したがって、保険契約が30年間で、月額25ドルの保険料が保証されている場合、保険契約の全期間にわたって変更されることはありません。
他のタイプのポリシーは、時間の経過とともに変化する保険料額または時間の経過とともに変化する利益を提供する場合があります。
更新可能な期間を使用すると、各期間（または期間）が経過した後、被保険者がポリシーを更新できます。
保険契約者は、補償範囲の新しい申請書に記入したり、身体検査に合格したりすることなく、これを行うことができます。
保険契約者は保険契約を更新することができますが、新しい期間の見積もりが実行され、プランの保険料は更新のたびに増加する可能性があります。
これは、被保険者の高齢と健康状態の悪化が原因である可能性があります。
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生命保険に加入すれば、家族の面倒を見ることができます。万が一、大切な人の健康のために、大切な人に金銭的な巣を残しておくことをお勧めします。詳細については、州をクリックしてください。 はじめに A convertible policy allows the insured to convert a term life insurance policy to a permanent life insurance policy at a later date.
As long as the conditions of the policy have been maintained and premium payments have been made, the insured will not be required to undergo any new or additional health screening at the time the policy is converted – regardless of their medical condition.
The convertible term allows the policyholder the advantage of obtaining less expensive coverage, while still maintaining the option to convert to a permanent policy at a later time in the future as their insurance and financial needs may change.
Also, they do not have to go through the process of getting a new quote.
A modified policy is any variation of payment structure or death benefit during the term of the policy.
Some modified policies offer increasing premium amounts over time or decreasing death benefits over time depending on the need.
With a decreasing policy, the death benefit decreases each year, even though the premium remains the same.
The decreasing term life policy will end when the death benefit reaches zero.
Potential purchasers of decreasing term life insurance may be those who want to cover the amount of their unpaid mortgage balance.
In this case, as the amount of the mortgage balance decreases, so too does the amount of death benefit on the decreasing term coverage.
Increasing term insurance policies maintain the same premium throughout the term, but has an increasing amount of death benefit.
This type of benefit can oftentimes be purchased as a cost of living rider to a whole life policy.
One of the downsides of term life insurance is reaching the end of the term and having it just expire or having the premium drastically increase to keep the policy intact.
Return of premium insurance is designed to pay the premiums back in the event you’re still alive at the end of the term.
This feature does cost more than a guaranteed level premium, but it actually costs less than a whole life policy.
The major difference is the policyholder doesn’t earn any growth on the premiums over the years.
Life insurance companies typically charge low premiums in the first few years after issuing a term policy because they have screened their applicants and selected only those who are in relatively good health.
On average, insureds tend to remain in good health for the first few years after policies are issued.
However, throughout the years, the pattern is that some policyholders who are in good health will drop their coverage while others who are in poor health will keep theirs.
In order to help in offsetting this trend, insurers need to build additional renewal premium charges into the policy in later years to help in covering the additional mortality cost that is associated with this adverse selection.
If an individual is in good health, then he or she may apply for new insurance by showing evidence of insurability, and they can once again enjoy the lower mortality charges that are associated with the newly issued policy.
Therefore, some insurers offer reentry term life insurance policies.
As long as an insured continues to show evidence of insurability at periodic intervals, their renewal premiums – which are based on lower mortality charges – will remain comparable to the premiums for newly issued term policies.
Likewise, if the insured is not able to qualify for the lower premium, most policies will also include a maximum amount of premium that could be charged.
These maximum renewal premiums are higher than the renewal premiums that are charged for a regular renewable term.
Final expense insurance is a type of coverage that covers the cost of burial, a funeral, and other related costs.
Often referred to as “funeral insurance” or “burial insurance,” final expense generally provides a benefit of between $5,000 and $50,000.
The policyholder on final expense life insurance can name a person (or persons) of their choice as the beneficiary.
The beneficiary – in many cases a family member or other loved one – makes the life insurance claim upon the insured’s death and is then responsible for using the proceeds to carry out the policy holder’s wishes.
Many final expense life insurance policies are offered at a lower cost than more traditional forms of life insurance coverage – and final expense plans can allow the policyholder to make affordable monthly or annual premium payments.
This makes final expense coverage easy to carry for many – even those on a fixed budget.
In many cases, final expense policies are underwritten as either “simplified issue” or “guaranteed issue.”
With a simplified issue policy, the applicant is asked several questions regarding their health and medical condition.
However, the applicant is not required to take a medical exam.
A guaranteed issue policy in one in which the applicant is not asked any medical questions at all. Therefore, with these types of plans, anyone who applies will receive coverage.
It is important to note, however, that the premiums on these policies are typically higher.
Credit life insurance is a type of policy that is designed to pay off a person’s debt should the debtor pass away.
The face value amount of the insurance policy typically will decrease as the balance of the debt goes down – until both reach zero.
Credit life insurance can protect an individual’s dependents in that they will not be saddled with debt should the borrower die prior to paying off the balance.
In some cases, the purchase of a credit policy is required by a lender prior to loan or credit approval.
Some of the key features of credit life include:
Credit policies can also offer a way to obtain coverage to those who are unable to obtain it in any other way.
Although proceeds do not go to the insured’s loved ones, credit life will help in reducing a decedent’s debts, which can help in avoiding financial hardship for the insured’s survivors.
In order to obtain the best term life insurance for your needs, it is usually a good idea to work with a company that has access to more than just one insurance company.
This is because you will be able to compare several different policies and their corresponding premium prices.
In many instances, the cost of coverage can differ a great deal – even for the very same coverage – depending on the insurer.
When you’re ready to start shopping for coverage, we can help.
We work with many of the top life insurers in the market place, we can also direct you to the best life insurance rates for smokers.
We can help you to obtain all of the information that you need quickly, easily, and conveniently, directly from your computer and without the need to meet in person with a life insurance agent.
Quotes can be viewed online – and when you’re ready to purchase, you can also submit your information via the Internet as well.
If you are ready to begin the process of purchasing term life insurance from one of the top life insurance companies, just simply fill out and submit the form on this page.
We all know that getting life insurance can be a big decision.
There is a great deal of information available – and at times, it can almost seem overwhelming.
But making sure that you have your family in a secure financial footing – no matter what the circumstances – is worth the short term process of getting a policy.
Now that we know the ins and outs of term life insurance policies we can get down to numbers.
Answering the question of “How much life insurance do I need?” is not as easy as it sounds.
Nobody wants to leave their family buried under thousands of dollars in debt after their passing, but most consumers do not know what the appropriate life insurance policy amount should be.
The size of the policy you’ll need depends on your financial situation, your future, plans, and your wishes for your family.
Do you have a spouse and children that rely on your salary? Does your spouse work or are your kids grown? Are you children about to go to college?
The more people that are dependent on your salary, the more life insurance coverage you’re going to need.
If your kids have moved out of the house and your spouse is working, then you can probably purchase a smaller life insurance policy.
If the kids are young, you have substantial debt, and a stay-at-home spouse, you may be looking at a million dollar life insurance policy or more.
Spend some time evaluating your finances. Factor in your mortgage, annual salary, investments, and yearly expenses. While a 1 million dollar policy sounds like plenty, you may actually need a policy with closer to 2 million dollars in coverage.
If you still have $125,000 left on your mortgage and an additional $15,000 in student loans, then a $250,000 life insurance policy might not be enough.
On the other hand, if your house is paid off, your kids are already out of college, and you only have a few credit cards or loans, a $250,000 policy could be sufficient.
Do not forget to calculate the cost of a funeral in the expenses.
While there is no “right” answer to the amount of life insurance policy you should buy, you should consider at least getting a policy that is 10x your annual salary.
Having a policy that is 10x your annual salary will give your loved ones the finances they need to pay off any debts and give them time to recover from the loss without having the added burden of funeral debt.
The other factor to consider is your lifestyle and how you want your family to use the money.
Do you want your family to pay off debt and then invest the rest? Do you want them to be able to maintain the same lifestyle for the next ten years without having to worry about funds?
Each situation will require a different amount of life insurance policy.
Before deciding on a policy amount, talk to your family about your financial wishes for the insurance coverage and what makes the most sense.