You may find that a 10 - year or 20 -
year term life policy fits the bill.
Not exact matches
So if you only need
life insurance to cover the cost of a mortgage, or protect young children, an affordable 20 or 30
year term life policy will probably be a perfect
fit.
So, how will a 30
year term life insurance
policy fit into your financial -LSB-...]
If you are 45
years old, a 20 -
year term life policy might
fit the bill.
As an example, if you've still got 10
years left on your student loan, a 10 -
year term life policy may be a good
fit for you.
If your looking for just a cheap
life insurance
policy and because that is all you can afford currently, you should be looking into a 10 -
year term or a 20 -
year term to find something that will
fit your budget.
The 25
year term life insurance
policy would be a good
fit for this situation.
The 25
year term life policy would certainly
fit the bill in this situation as well.
The 10
year term life insurance
policy would
fit your need perfectly if you are in the market for inexpensive
life insurance.
Another area where a 15
year term life insurance
policy may
fit well is in providing coverage between one's early 50s and the time they reach retirement.
While there are situations where whole
life or another more complex type of
policy could
fit your financial plan, most families would be better off with a simple
term life insurance
policy that provides income replacement during their working
years.
If you intend to buy
term life insurance to cover short
term needs you should compare the yearly renewable
term, the 5
year term and the 10
year term policies and see which best
fits tour situation.
In recent
years life insurance carriers have seen
fit to allow people to buy
term policies up until age 65 without the necessity of a medical exam.
The 30
year term life insurance
policy would
fit this persons need.
If you make $ 100,000 a
year, for example, a
term life insurance
policy in the neighborhood of $ 1,000,000 would
fit the bill nicely.
So if you are twenty
years old and take out a 20
year term life insurance
policy, the insurance company knows what the exact % chance is that a person who more or less
fits your description will die in the next 20
years.
Premiums for no medical exam insurance will be higher than for other
policies, but a 20
year term life policy is still affordable enough to
fit most budgets.