Best Life Insurance

Best term life insurance rate is appropriate for the potential policyholder who desires a policy with low premiums. These types of plans provide coverage only for a set amount of time, thus reducing the overall liability and risk to an insurer. Whole life plans in contrast, generally cover the insured as for as long as premiums are paid. These plans also generally build equity for the insured, making them more expensive, resulting in higher premiums. Term policies limit the risk to the providers, making rates lower than other types of plans, and some of these plans carry the option to renew the plan at the end of the term. Renewable plan rates may vary from year to year. Originally purchased a term policy will have guaranteed rates up to the specific time period spelled out in the policy. After the time period has expired renewal may be possible but the rates may change. The Internet provides a valuable tool for quickly and efficiently comparing the best term life insurance rates and plans.

The amount one is insured for and the options added to the policy will significantly affect the premium. Options which will raise the best term life insurance rate initially quoted may include conversion features, discounts for spouse and children's policies, accelerated death benefit, waiver of premium options, accidental death benefit options, and guaranteed purchase options. With a conversion feature the policyholder may elect to convert a term policy to a whole policy at any time. Discounts may be available to the insured if additional policies are purchased on other members of the household. Some companies offer accelerated death benefits if the insured is diagnosed as terminally ill. Also, if the insured becomes disabled, premiums may be waived. An accidental death option may be added to a policy. Guaranteed purchase options guarantees the insured the ability to buy additional insurance in the future without insurability requirements. The best term life insurance rates will be on the policies with the least options; however, individuals may decide the added costs of certain options are well worth the expense.

Applications may require a brief phone interview and a medical examination. The exam may be scheduled to be done at home or work. The life insurance company pays for any exams needed by the potential policyholder. There are some plans that do not require an exam, but the best term life insurance rate will be available only on those plans which involve an exam by a medical professional. Rates may vary based upon family medical history, age, gender, and other factors. Those in search of the best term life insurance rates may wish to enlist the assistance of a broker or search the Internet for various plans. "My son, attend to my words; incline thine ear unto my sayings, Let them not depart from thine eyes, keep them in the midst of thine heart. For they are life unto those that find them, and health to all their flesh" (Proverbs 4:20-22)

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