How Term Life Insurance Works

There are several types of term life insurance to choose from when selecting your term life policy.

Among the different plans are level term, decreasing term, renewable term, annual term, and no exam term life insurance.

Level Term Life Insurance provides coverage for 1-30 years years. You life insurance premiums remain the same each year, and your life insurance coverage amount stays the same.

Decreasing Term Life Insurance provides coverage for 1-30 years with your premiums remaining the same each year, while your coverage amount decreases each year.

Annual Renewable Term Life Insurance provides coverage for a specific number years, and allows you to renew your life insurance policy without having to take a physical exam.

Annual Term Life Insurance coverage provides protection for a one year term with your policy renewing each year, if you choose.

No Exam Term Life Insurance provides you with level term life insurance protection, but you do not have to take a physical exam in order to qualify for the coverage. Also, if you qualify, you may begin your policy the same day.

Disclosure: Compensated Affiliate