Term Life Insurance

Term life insurance, which is usually the least expensive form of life insurance, pays a death benefit to your beneficiary or beneficiaries if you pass away while the coverage is in force. If you outlive the term and don't renew your life insurance policy, or if you stop paying your life insurance premium, your life insurance coverage is terminated and no death claim will be paid out. Most term life insurance can be converted to whole or universal life insurance without any evidence of insurability.

There are several different forms of term life insurance available. Yearly renewable term life insurance is one such product. While the life insurance premiums for such a life insurance policy are initially low, they become increasingly larger as the insured increases in age. This is the most common form of term life insurance offered by a group life insurance policy.

Decreasing term life insurance works in the opposite manner. While the death benefit from the term insurance decreases with the increased age and the depleting mortgage of the insured, the life insurance premium decreases as the insured decreases the coverage amount. This type of term life insurance is most often used to help protect a mortgage because the decrease of the death benefit roughly parallels the reduction of the outstanding mortgage.

With guaranteed level term life insurance, your life insurance premium and your death benefit amount are guaranteed to remain level for a specified period - usually 5, 10, 15, 20, 25, or 30 years. At the end of the guaranteed level period, your life insurance premium will either increase for a one-year period or for another specified duration and are subject to a guaranteed maximum. At that point, you may have to re-qualify for life insurance coverage by providing proof of insurability. This is an extremely important factor to consider in deciding which life insurance policy is best for you.

TermAdvantage is committed to finding you term life insurance that fits your family's needs and budget. Since term life insurance varies in price substantially, TermAdvantage shops over 2,000 life insurance companies to find term life insurance custom-fitted to your exact specifications. While the decision to purchase term life insurance is an important one, TermAdvantage is committed to finding you the best available term life insurance at the lowest rate from the nation's highest-rated (A or better by AMBest.com) life insurance companies.

TermAdvantage is committed to finding you a term life insurance policy & affordable long term life insurance that fits your family's needs and budget.

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