 |
|
|
|
|
 |
|
Save
hundreds on Term Life insurance
Through Insurance Central |
|
|
|
|
|
|
|
| |
| What is Term Life
insurance? |
| Term Life insurance covers
you for a specific term or span of years. If you die during
the term while coverage is in force your policy beneficiary
is paid the full death benefit, subject to the terms of your
policy. |
|
| What is Return of Premium Term Life insurance (ROP Term)? |
ROP Term is an innovative new product designed for those who “expect the best but prepare for the worst.” Just as described above for regular Term Life, with ROP term, if you die during the policy term, your beneficiary gets the insurance benefit from your in force policy, but what's new is, if you keep your policy in force and live, you will get 100% of your base policy premiums back at the end of the term period you selected. If you cancel the policy after the first few policy years, a portion of premiums are returned. The early refund is an increasing percentage until it reaches 100% at the end of your selected policy term.
ROP Term is available in term durations of 15- to 30-years, depending on your age. Regular term life costs less than ROP but you don't get your premiums back if you stay alive. For help determining what type of policy is best for you, please call the number above. Licensed reps will answer your questions, compare rates of leading carriers head-to-head and give you important information to help you feel confident that you’ve made the right choice for your needs. |
|
| Why do I need Term
Life insurance? |
| Recent studies have found that when a premature death occurs, insufficient life insurance coverage on the part of the insured wage earner results in three-fourths of surviving family members having to take measures such as work additional jobs or longer hours, borrow money, withdraw money from savings and investment accounts, and , in too many cases, move to lesser housing. Term Life insurance is
one of the most cost-effective ways to help protect your family
and assets. It pays your policy beneficiaries a set sum should
you die during the policy term. Term life typically features
premiums that are guaranteed to remain level throughout the
initial policy term, allowing you to lock in guaranteed level
rates for up to 20 or even 30 years upon policy issue. |
|
| I already have life
insurance. Should I make a change? |
| It is wise
to periodically review your insurance portfolio to ensure it
provides the protection you need for your current stage of life.
You may wish to purchase additional coverage, or take advantage
of lower rates. Even if you bought a policy within the last
few years, your savings could be significant. Insurance Central's
salaried, licensed representatives can help you determine whether
your portfolio needs updating, and offer rate quotes from the
hundreds of plans in our database. |
|
| What is the difference
between Term Life and other kinds of life insurance? |
Term Life insurance is
the simplest kind of life insurance--it pays your survivors
the policy amount if you die while the coverage is in force
(subject to the provisions of your policy). Level-premium term
policies feature guaranteed premiums for the initial premium
period, whether it is 5, 10, 15 or as many as 30 years. At the
end of the initial premium period most policies are renewable,
but your rates may increase each subsequent year, and you may
be required to meet the insurer's health criteria in order to
renew. Return of Premium Term Life returns 100% of your base policy premiums at the end of the initial premium period.
Whole Life insurance provides lifetime coverage with
premiums that remain the same regardless of the insured's age.
Whole Life policies can build cash value. Premiums are generally
higher than those for Term Life during the guarantee period.
Universal Life insurance offers permanent coverage with flexible
premiums and face amounts. These policies accumulate cash value,
generally through fixed interest or variable returns. Like Whole
Life insurance, Universal Life rates are generally higher than
Term Life insurance during the guarantee period. |
|
| How much coverage
should I have, and for how long? |
| The easiest way to determine
the amount of coverage you need is to use our on-line needs
calculator. As a rule of thumb, experts recommend you have coverage
of at least five to seven times your annual income, but you
may find you need more, depending on your age and family situation.
Certainly you will want cash to cover day-to-day expenses like
grocery and mortgage bills, but also think about your family's
future expenses such as tuition for your children's education,
replacing the family car, support for aging parents, and so
on. Also, think about how long your family will need the protection.
If your children are close to college age now and your spouse
has a good income, a shorter-term policy may be better for you.
But if you want to lock in level premiums for a longer period
of time, or you think that a change in your health might make
it more difficult to re-qualify for coverage in the future,
a long-term policy is the better choice. And in some situations,
it may be wisest to combine shorter - and longer - term policies
to accommodate your changing needs over time. |
|
| What is the best
way to buy Term Life insurance? |
| Premiums for similar policies
can vary significantly. Compare prices from a number of different
companies to find the best premiums. You should seek the recommendation of an experienced term life representative to select the company that is most likely to offer you the best rate. See the “Why Compare?” tab above for more information on selecting the right company. |
|
| Who can I call for
premium comparison? |
| Many companies offer premium
comparisons, some for free, others for a fee. The problem with
many of these services is that often they provide a long list
of companies and prices, but little help in selecting the right
one for you. Insurance Central is different. Insurance Central's
licensed representatives can help you determine how much coverage
you need, and then find a company and policy to meet those needs. Because
they are salaried, Insurance Central's representatives are concerned
with satisfying each customer's needs -- not with meeting a
sales quota. They will give you the information you need with
no pressure, no obligation, and no charge. Call the number above
7 a.m. to 5 p.m. Pacific Time Monday through Friday to speak to
a representative. If you prefer, compare rates online, or contact
Insurance Central via e-mail. |
|
|
|
|
 |
|
|
