term life insurance benefits

aig term life insurance

Quick approval: With no medical exam, you can get covered immediately, rather than waiting weeks for processing and results. This may work well if you need coverage fast, like for an upcoming trip.

If you're looking to find:

You still have options if you aren't eligible for traditional or simplified-issue life insurance. A guaranteed issue policy in life insurance might be a good option.

supplemental term life insurance

Convenience. You don't have to go through a lengthy medical exam. A recent study showed that 47% Americans prefer to purchase their life insurance using a simplified process.

Term insurance is a type or life insurance policy with a set end date. It's usually 20 years from when it was purchased. The policyholder must die within the designated term to receive the death benefit. The death benefit refers to money that is paid to the beneficiary if the policyholder dies during the chosen term.

supplemental term life insurance
what is group term life insurance

what is group term life insurance

The most common type of death benefit for a term policy is a level term policy, which means that the value of the death benefit stays the same for the entire time your policy is active. The benefit can also decrease, meaning it shrinks over time, typically in one-year increments.

It doesn't really matter what your age is, it's better to purchase your policy sooner than later. Your premium will increase depending on how old you are. You can expect to pay anywhere from 4.5% to 9.2% per year if you wait to buy a policy. We can help compare life insurance quotes of top-rated companies so you can find the best option for you at a low price.

level term life insurance

As a senior, your options for life cover may be limited depending on how old you are and what your health status is. There aren't many restrictions if your age is below 70 and you're in good health. Because some insurers restrict the age range that can buy a certain product, you may need to narrow your search.

A product known as no medical exam insurance is offered by some insurers. The quotes are based on the age of the insured (typically, between 50-54). These products only last for one year and your premiums rise each time you reach a new age. They can become expensive after 15 to 20 more years.

term life insurance quotes no medical exam
term life insurance quotes no medical exam

The guaranteed issue may be a good fit if you're looking for:

term life insurance

define term life insurance

No-questions-asked coverage. Guaranteed issue is a policy that lives up to its name. It covers you regardless of your age or health. It is a type of permanent insurance that will last as long you pay your premiums. Guaranteed issue is a type of permanent insurance that can provide financial support for your loved ones if you have a serious condition such as cancer or heart disease.

A 30-year term life policy can be a great option if you are financially secure and are able to manage the premium difference between a term of 20 years and 30 years.

define term life insurance

Frequently Asked Questions

Many term life insurance policies offer a conversion option, putting you in control. This allows you to switch to a permanent life insurance policy before the term expires, usually without requiring a medical exam.