What Term Life Insurance Is
By definition, a term life insurance is a type of policy in which there is a limit on the period of coverage. When this period expires, the owner of the policy will then have to make a call whether to renew it or let the entire thing end. A term life insurance policy applies to life coverage alone. You will be able to purchase terms between one to thirty years, depending on your needs.
Features of a Term Life InsuranceThe very first thing you need to know about term life insurance is that it is much cheaper than whole life plans. The premium for a term insurance plan starts off relatively cheap, especially if you are in good health and a non-smoker. It will even be lower if you are a woman, actually. You only pay a fraction of what it would cost you annually when you purchase whole life insurance. However, there is an age limit with companies when it comes to offering term life insurance. Individuals above 65 years of age will not qualify for such a plan. They will be forced to acquire a whole life insurance policy instead.
Finding a Plan Online
The great thing about this type of package is that you can actually find an online term life insurance plan that will suit your needs and demands. There are many websites and companies that can offer an e-plan of sorts, which of course is up to you to decide as to what will be the best one for you. You can check out companies that are online and compare between rates and plans. The best part is, you can buy your term life insurance right off the Internet. No more insurance agents and long processing periods. When you buy online, you get your plan immediately!