What is a Term Life Policy?

Term Life Policy

A Term Life Policy functions in a manner similar to most other types of insurance in that it satisfies claims against what is insured if the premiums are up to date and the contract has not expired, and does not expect a return of Premium dollars if no claims are filed. As an example, auto insurance will satisfy claims against the insured in the event of an accident and a home owner policy will satisfy claims against the home if it is damaged or destroyed by, for example, a fire. Whether or not these events will occur is uncertain, and if the policy holder discontinues coverage because he has sold the insured car or home the life insurance company will not refund the premium

Tips for Buying Term Life Insurance Online

Term Life Insurance Online

As unpalatable as the idea of planning for your own death might seem, there are plenty of reasons to look into buying term life insurance online even if you already have a policy.

For one thing, having the right kind of coverage can give you incredible peace of mind. Another detail to consider:
term life rates have been dropping significantly. The Insurance Information Institute notes that premiums have plummeted 50 percent for standard-risk term insurance since 1994, and they’re expected to drop by another 4 percent this year.
Honestly, how often do you hear about rates dropping for anything these days? The following tips can help you secure good coverage without spending too much.

Term Life Insurance Cost Need to Knows

Term Life Insurance Costs

Your term life insurance cost depends on your age, your health and the size of the death benefit you want. No surprise that the younger and healthier you are, the lower your premium will be.

Just as a ballpark, a healthy 40-year-old man who buys a 20 year term life policy, which has a fixed annual premium, might pay $350 a year to secure a $500,000 death benefit. A healthy 50-year-old man who buys the same policy might pay $1,000 a year. If he waits until he's 60, the policy will cost about $3,000 a year.

Accident Life Insurance Policies

What does Accident Life Insurance cover?

Accident Life Insurance, also known as double indemnity, may be added to an insurance policy to provide for an additional amount to be paid to the beneficiary should the insured person die as the result of an accident. This additional amount, usually referred to as the “principal sum”, is generally an amount equal to the face value of the policy (thus the term double indemnity). It could, however, be three or more times the term life insurance policy’s face value.

Learn about 30 Year Term Life Insurance

It covers a temporary need. Remember, life insurance is meant to provide for your dependents. Later in life — after the kids are in college and you and your spouse have socked away a generous retirement stash — you might not have any dependents. So while you might buy a policy when your first child is born (and you might increase it as you have more children), you may only need life insurance for, say, 30 year term life.

The Minnesota Life Insurance Company

The Minnesota Life Insurance Company insurance, pension and investment products provide financial security to millions of individuals and businesses nationwide. Founded in 1880, our record of financial strength and stability positions us as one of the most highly rated financial institutions in America.

From our St. Paul, Minnesota national headquarters and sales offices and independent general agencies around the nation, more than 5,000 home office associates provide our clients with quality service and product expertise.

Term Life Quotes – How to Quote the Best Rates

Term Life Quotes – How to Quote the Best Rates

Today, getting term life quotes is definitely not a one sided process. Whether it is researching the life insurance companies themselves, or shopping around for the best rates, the internet provides you with virtually every resource that you could wish for in doing a life insurance analysis. Sites such as eTermLifeInsurance.net