The life insurance industry offers numerous types of policies for the public to select from and term life insurance is just one of them. What actually is "term life insurance"? Also what does the word "term" mean? The simple answer to that, is that in the life insurance business the word "term" refers to a policy that covers a specific time frame and after that time is up, the policy coverage ends.
The Long and the Short of it
As a general rule, the longer a term life insurance policy is written for, the more expensive it will be. Most policies average between 5 and 30 years but of course there can and are exceptions. So, why are longer term life insurance policies more expensive to take out? The answer to that is simple and that is that the longer a term life insurance policy is for, the more likely it is that the insured party will die while being covered by it.
All Websites are Not Alike
The phenomenon of online life insurance is currently experiencing a boom due to the competitive nature of the industry. As a result, numerous websites have sprung up offering a litany of services to the public, all related to life insurance. However; while some of the services that these websites offer may seem similar on the surface, by looking deeper you will find that they are not.
Some Helpful – Some Not So Helpful
There are now numerous life insurance service websites that allow you to fill out a questionnaire and in turn receive multiple quotes from various insurance companies. While some of them are quite helpful, others can leave you regretting that you have visited them.
Instant Side By Side Comparisons
The best sites to visit are the sites that offer a set number of instant quotes and do not allow third party access to the information in your questionnaire. At these sites, you can receive up to five quotes instantly for side by side comparison.
Some Sites Not So Helpful
However; there are sites that are interested in only selling your information to any and all insurance salesmen who are willing to pay. If you fill out their questionnaire, you can expect to get bombarded by emails and phone calls for weeks afterwards by insurance salesmen trying to sell you a policy.