What is Term Life Insurance?+-

Term life insurance provides life insurance coverage for a specified period, such as 10, 15, 20, or 30 years. If the insured dies while the policy is in force and all policy requirements have been met, the policy's death benefit is generally paid to the designated beneficiary.

Because term life insurance provides coverage for a limited period and typically does not build cash value, premiums are often lower than those for permanent life insurance. Premiums, however, vary based on factors such as age, health, policy amount, policy term, and underwriting classification.

Who Can Buy Term Life Insurance?+-

Eligibility for term life insurance varies by insurance company and is subject to underwriting approval. Factors such as age, health history, lifestyle, medications, and other underwriting criteria may affect eligibility, available coverage amounts, and premium costs.

Individuals with a variety of medical histories may qualify for coverage, depending on the insurer's underwriting guidelines.

How Does Term Life Insurance Work?+-

You select a coverage amount and policy term that meets your needs, subject to insurer approval. As long as required premiums are paid and the policy remains in force, coverage continues during the selected term.

If the insured dies while the policy is active, the designated beneficiary may receive the policy's death benefit in accordance with the terms and conditions of the policy.

Why Are So Many Online Quotes Inaccurate?+-

Many online life insurance quotes are preliminary estimates based on limited information. Final premiums and eligibility are determined after the application process and may include a review of health history, prescription medications, lifestyle factors, and other underwriting information.

Because underwriting guidelines vary among insurance companies, coverage options and premium rates may differ from one insurer to another. A licensed insurance professional can help explain available options and the underwriting process.