Affordable Term Life Insurance
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Choose the right Term Life Insurance
How much insurance do I need?
If your family depends on your earnings to cover their everyday living costs, the financial consequences of your passing could be overwhelming. Is your mortgage adequately insured? Do you have young children or adolescents aspiring to attend university?
When and how long (term)?
This hinges on the duration of commitments such as the ones mentioned earlier, with the most typical terms being 10 or 20 years. These commitments may include outstanding debts (such as a mortgage), college tuition, support for dependents (including young children or aging relatives), end-of-life expenses, and general financial concerns.
Types of term life insurance
Term life insurance represents the most straightforward form of life insurance. Your Ariel Quotes consultant will collaborate with you to identify the policy that aligns with your requirements. These options may encompass:
Level term life insurance
Annual renewable term life insurance
Return of premium term life insurance
No-medical exam term life insurance
Decreasing term life insurance
Mortgage protection term life insurance
Group term life insurance
Frequently asked questions
Which is better Whole or Term life insurance?
Term life insurance provides benefits to your beneficiaries, while whole life insurance not only benefits your beneficiaries but also offers advantages for you. However, it comes at a higher cost.
Which is better Whole or Term life insurance?
While term life insurance primarily benefits your beneficiaries, whole life insurance offers advantages for both you and your beneficiaries, albeit at a higher cost.
How does term life insurance work?
Your family relies on your income, making life insurance a crucial element in planning for their future well-being. Although contemplating one’s own mortality may be uncomfortable, taking this step now can shield your family from potential financial strain if the worst were to happen. Typically, life insurance is acquired to replace your income in the event of your death, enabling your loved ones to manage debts and ongoing living expenses. A well-structured term life insurance policy should ensure that, upon your demise, there are ample funds to settle or sustain the mortgage.
Term life insurance pays out if the insured individual passes away within the predetermined term, usually 10, 15, 20, or 30 years. Your monthly premium remains fixed throughout the policy term, and since premiums are influenced by the age at which you initiate the policy, it is advisable to start at a younger age with a coverage amount that comfortably fits your budget. Regularly reassessing your situation, ideally every two years or when undertaking significant commitments like starting a family or covering college fees, is prudent. During such times, it may be wise to augment your coverage with a suitable shorter-term policy.
Typical term life policy amounts range from $100,000 to $250,000, reflecting a realistic assessment of your needs. Annual premiums for a $100,000 policy for males at age 30 amount to $275, escalating to $770 at age 50, with a roughly 15% lower equivalent for females. Smokers face notably higher premiums, but many insurance companies offer reductions for those who quit.
We provide a complimentary review of your existing policies, covering life, health, dental, vision, and any relevant supplemental or riders. This ensures that you are maximizing the value of your investments in security. Consult with one of our Advisors without obligation for personalized guidance.