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What is Term Life Insurance And How Does It Work?


Term Life Insurance \ˈtərm ˈlīf n-ˈshu̇r-ən(t)s\
A financial contract that provides protection at a fixed rate of payment for a specified "term" of years. Term Life Insurance or "Pure insurance protection" has no investment component or accumulating cash value, and pays a benefit only if you die during the “term.”

Life Insurance may not be the most exciting purchase you'll ever make, but it can certainly be one of the most important. Term Life Insurance has always been a great, low-cost way to provide your family with the protection they deserve - whether that means paying for college, paying off a mortgage or just covering burial expenses. You can't put a price on the value of family, but you can provide financial protection.

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Term life insurance policies provide a specified amount of coverage for a specific period of time - as short as one year, or in durations of 5, 10, 20 or even 30 years.

Policies also provide a guaranteed level premium. This means your premium will never go up during the term of your policy.

At the end of the initial term period,
almost all policies offer the option of applying for a new guaranteed term period (called re-entry) or of converting to a whole life policy at a permanently fixed price.

Term Life Insurance is very affordable because, unlike whole life and other forms of life insurance, you are only paying for the "survivor benefit" - the guaranteed lump sum that would be paid to your beneficiary should you pass away during the term of your policy.


Life insurance provides a guaranteed lump sum of capital
which can be used in a number of ways:


Generally, people purchase term life insurance to cover specific needs. For instance, you might want your policy to replace the income that would be lost upon your death or cover the cost of your children's college education. Life insurance can also protect your family from future debts. For instance, if you and your spouse own a home, and you were to die tomorrow, your spouse could use life insurance proceeds to pay the mortgage in full or create a sinking fund for future payments.


What Makes Term Life Insurance a Smart Choice?

Peace of Mind. It provides financial security for your family.

No suprises. Your benefits and premiums are guaranteed for the entire term of your policy.

Affordable. Term Life Insurance policies are extremely cost effective and provide you with the most affordable out of pocket cost to maintain life insurance coverage.

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Selling life insurance online since 1995 At 1stQuote, our goal is to provide you with the most competitive prices from the most respected life insurance carriers. We were one of the first life insurance firms on the world wide web beginning in 1995. We've been endorsed by Consumer Reports, Forbes and Consumer Digest. So let us help you find the right policy!

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*Source: http://www.limra.com/Posts/PR/LIAM/PDF/2012_Facts_of_Life_pdf.aspx

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Andre, 56, Found a $350,000 term life policy for $59.12/mo
Rebecca, 34, Found a $500,000 term life policy for $13.05/mo
Ken, 47, Found a $1,000,000 term life policy for $60.03/mo


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