Which Term Life Insurance Is Good?
.JPG)
63333 POINTSview profilePeggy MaceMost of the U.S.The best type of term life insurance is level term, meaning that the premiums are guaranteed not to go up for the full years of the term. In my opinion, locking in a premium for a longer term (20 or 30 years) is preferable if you have good health when you purchase your policy, or have a chronic condition that could cause you to pay very high rates in the future. Another rule of thumb is to match the term with your need. E.g. If you have 15 years left on your mortgage, getting 15 year term life insurance is a good choice.Answered on November 7, 2013flag this answer
37376 POINTSview profileDavid G. Pipes, CLU®, RICP®Business Development Officer, T.D. McNeil Insurance Services, Fresno, CaliforniaThe best term life policy is the one that is in force on the day that you die. Statistically that definition casts doubt on the value of most term policies since few result in a death claim. The value of term insurance is that you can get a high amount of coverage and have it in force over the years where your death would cause the greatest havoc. It isn’t the plan, it isn’t the company, however, it is making sure that the policy is in force that makes a policy “best.”Answered on March 5, 2014flag this answer
Did you find these answers helpful?
Yes
No
Go!
Add Your Answer To This Question
You must be logged in to add your answer.
