Term life insurance provides coverage and insurance to a policyholder for a specific period in exchange for a flat monthly or annual premium. There is no cash value and no money paid when the term ends. If the insured person dies within the term of the policy, the beneficiary receives death benefits as term life insurance that insures the person against death. If the insured person dies after the term expires, no death benefits will be paid. The term length varies depending on the choice of individuals as it can be a year or 10 years or 20 years or even up to 30 years. In most term life insurance policies beneficiaries receive full face amount but do not accrue cash value. The best term life insurance policies are cost-effective, hassle-free, and renewable. The premium of the policies depends on the age and health conditions of the policyholder. In the United States, a large number of insurance companies provide some of the best term life insurance but finding the one for you may be slightly difficult. Below are some considerable insurers.
AIG Direct: AIG Direct is a part of American International Group. AIG Direct has been providing hassle free and best future financial securities in the U.S for the last 100 years through term life insurance. In most term policies AIG Direct provides the full-face amount to the beneficiaries. AIG Direct offers the coverage up to $250,000, the terms of their policies range from 10 to 30 years and extend in 5-year increment. AIG Direct term policy refunds back the premiums (after subtracting administrating or any fees) if the insured lives until the end of the term. They provide various types of term life insurance policies including level, renewable, convertible and return of premium. Level term insurance is a popular type of term life insurance of AIG Direct and it has a fixed premium payment for the term duration. Due premium depends on the age of the insured person and they provide a fixed benefit amount. The renewable term life insurance policy is a shorter term policy run from 5 to 30 years and it has an alternative to renew it. With every renewal, the premium becomes higher based on the insured person’s current age. Convertible Term Life Insurance policies are affordable and flexible because people may convert their term life insurance into a permanent life insurance policy without any proof of insurability. The premium increases when the policy converted to a permanent life insurance and there is a window during which policy can be converted.
American National: American National life insurance company is very popular. It provides financial securities through term life insurance policies in the United States since over 100 years. They offer term insurance policies to the applicants without medical exam up to the age of 65 with coverage between $50,000 and $250,000. Usually, the term length of their policies is 10, 15, 20 or 30 years. The policies are competitively priced and have coverage as per customer requirement. They have level premium payment or fixed premium payment option for the term duration.
Haven Life: Haven Life can be considered as one of the best term life insurance provider company. It offers hassle-free term life insurance with secure benefits. Haven life offers term life insurance policies at affordable and competitive rates and is available to the age group of 18 to 65. To qualify the coverage of their term policies, healthy applicants (up to the age of 45) may not require a medical exam and they also can buy medically underwritten coverage through instant term process. Two other types of no exam term insurance policies are there – guaranteed issue policies and simplified issue policies. Their “Guaranteed issue policies” usually comes with a high premium, because the average risk is high and provides death benefits up to $50,000. People with cancer or other types of illness and smokers can get these policies. Their “Simplified issue policies” do not require health exam, therefore, their premiums are higher. To get simplified issue policies applicants have to answer some health-related questionnaires. Simplified issue policies typically provide death benefits of around $250,000, but some insurers get death benefits up to $500,000.
Globe Life: Globe life is one of the highest rated companies that provide term life insurance in law and consistent premium without any health exam. They provide fast coverage as well as best term policies to secure children and families financially. On some policies of Globe Life, the first month of initial cost starts at $1 for children’s whole life coverage of $20,000 and adults term life coverage of $100,000. After the first month, they determine the monthly premium rate accordingly. Globe Life term policies support families indirectly through accidental death and mortgage protection policies. Globe life pays some added value benefits also and pays all benefits free of federal tax.
The best term life insurance is one of the most essential and powerful financial instrument for the future security of your family and loved ones because it can make a remarkable impact on your family’s life when you are no more with them. Policyholders achieve peace of mind and satisfaction by purchasing death benefits in the least expensive way to secure family’s financial future for a particular period of time.
