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Term life insurance rate depends on the kind of policy you
choose. That is,
the premium for $500,000 coverage will vary from a $250,000
policy. According to a June 2004 Consumer Reports Money Adviser
article, the premium for a $500,000 payment will cost
approximately less than twenty dollars a month.
This is one of the reasons term life insurance is very
popular.
About term
life insurance:
1. The policy holder must cease living within the
time frame stated in the policy. If the covered individual
dies after the time allotted in the insurance policy, the
beneficiary does not receive payment. However, there is
what is called "Renewable Term" in which the insurance
can be renewed if the covered individual outlives the policy
time frame. This may mean that the premium payment will
increase.
2. The beneficiary gets paid the set amount stated on
the policy. That is, the dollar amount to be paid does not
increase. This is called "Level term."
So decide on "Renewable" or "Level" and
choose the policy which will determine your premium.
More
definitions here
Shop
for term life insurance rates:
http://www.insure.com/quotesmith/controller?reqid=qstermindex
http://www.reliaquote.com/?sourceid=00A00000032000000000
http://firstinlife.com/quote.htm
A
good article about term life insurance
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