Quote for Term Life Insurance

What is Quote for Term Life Insurance. Term life insurance provides coverage for a specific period of time: typically 10, 15, 20, or 30 years. It’s affordable and simple – it might make sense if you only want coverage for the years you plan to financially support a loved one. If you die during your term, the death benefit from the term policy can be used based on the beneficiary’s choice.

What are the benefits of Quote for Term Life Insurance?

Unlike whole life and universal life, which last your entire life, long term life insurance only lasts as long as you need it. This makes it a popular and more affordable option.

Lower costs

Term life insurance only covers you for a certain amount of time, which results in lower rates than other life insurance policies. In fact, $250,000 term life insurance coverage starts at $16 per month through eFinancial. *Read the relevant disclosure for this claim.

More coverage

Because the cost of purchasing life insurance is lower, you can afford greater death benefits and greater security for your loved ones. This makes it ideal for young families.

Policy length flexibility

Term life insurance policies give you the freedom to choose the length of your coverage. Many people choose a term roughly equal to the years remaining on their mortgage or the years their children are dependent on.

Tax-free payout

Life insurance policy beneficiary claim payments will not normally be counted as taxable income.

Guaranteed protection and premium

With a term policy, your death benefits and insurance premiums are fixed and guaranteed, provided you make your payments on time and there is no life insurance fraud.

Comparing term and permanent life insurance

Term life insurance differs from permanent life insurance in the following ways.

Term life insurance

Term life insurance differs from permanent life insurance in the following ways.

Coverage lasts for as long as you want (10, 15, 20, 30 years) Cheaper death benefits and fixed premiums can be higher due to lower costs
Permanent life insurance

Coverage lasts a lifetime Most expensive components of the cash value covers a lifetime insurance policy, comprehensive life, and final fees

ONE-YEAR, SHORT-TERM LIFE INSURANCE

In general, the younger and healthier you are, the lower your life insurance rate. If you’re getting married, buying property, or starting a family, term life insurance is an affordable way to help ensure your family has financial security in the event that you pass away unexpectedly.

Which term length is right for me?

Want to know how long you need life insurance? It depends on your budget and how long you provide financial support to your loved one.

One-year term

Consider a one-year term if you want immediate life insurance and are just getting started with life insurance or want to fill a temporary gap in coverage.

10-year term life insurance

Consider a 10-year term if you want to add another policy, are nearing retirement, or are financially secure but want coverage for your family in the event of your death.

15-year term life insurance

Consider a 15-year period if you have children who will become adults in 15 years or less, or if you have a 15-year mortgage (or other loan) that you want your spouse to help you pay off if you die suddenly.

20-year term life insurance

Consider a 20-year term if you’ve started a family or plan to soon, to provide a financial safeguard for your children until they’re adults.

30-year term life insurance

Consider a 30-year term if you’re young and want to provide your loved ones with a safety net until you retire. Another reason might be if you recently got a 30-year mortgage or another long-term loan.

Compare term life insurance quotes

When you’re considering a life insurance policy, research the insurance company and plan to find rates and coverage that are right for you. With eFinancial, you can easily compare life insurance policies to see how your rates change based on policy type, amount of coverage, and insurance company.

eFinancial offers a variety of simplified term life insurance options such as RAPIDecisionĀ® Life, making it possible to purchase affordable life insurance quickly with no medical exam.