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- Your personal information isn't needed with our life insurance quote engine.
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- No need to deal with an agent and miss out on life insurance savings.
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So, What Is Term Life Insurance?
As we like to say, "In Plain English," term life insurance is simply, protection against the loss of life over a specific period of time.
Term life insurance is also going to be the most affordable type of life insurance that you can purchase and the most simple.
You can choose coverage options from 2 years all the way up to 30 years and coverage amounts from $50,000 up to $25,000,000+
Best Term Life Insurance rates by age
If you are looking for the best term life insurance rates based on your current age then check out some of our sample rates below:
Best term life insurance rates for women
*Rates are based on a non-tobacco female with a preferred health rating looking for a 20 Year Term.
Best term life insurance rates for Men
*Rates are based on a non-tobacco male with a preferred health rating looking for a 20 Year Term.
Do I need a Life Insurance Policy If I...
- Am Single With No Dependants?
- Have It through an employer?
- Am Not the breadwinner
When we think about life insurance, for the most part, we are talking about leaving your family in a great financial space if something were to happen to you, however, what about if you are single?
Here at Simply Insurance, we believe that everyone needs some type of term life insurance. There will still be expenses for your burial and any remaining debts or bills. Someone is going to have to bury you, and you probably don't want to put that burden on your parents or distant relatives. It's fairly affordable to get a term life insurance policy with a decently sized death benefit.
Life Insurance through your employer is great, but there are a few things we have to consider.
A vast majority of life insurance policies through your employer is only 1x your annual salary. This means that if the breadwinner passes away, you will have only one year of income payout to supplement the loss of income and pay expenses.
Another thing to consider is that most employers don't allow you to take the term insurance with you if you leave the company. We can't control what happens with our employers; however, we can keep our on policy outside of work.
Lastly, you won't be able to find the cheapest term life insurance through your employer, they simply can't give you options based on your specific needs.
If you aren't the breadwinner is very important for you to have life insurance. The expenses associated with someone passing away don't change, and someone has to pay them.
Your spouse is going to be just as much of an emotional wreck and probably won't be going into work.
If you have kids, they are going to need extra attention that the working spouse may need to obtain assistance with from a nanny or daycare.
The expenses can add up and depending on the debt and salary of the breadwinner, your passing away without sufficient life insurance could create financial anarchy in your family. It's really about the family so be sure to get a life quote.
Term Life Insurance Quotes or Whole Life Insurance Quotes?
There are two types of life insurance, term life, and whole life. From our experience, whole life insurance quotes will always be more expensive than term life insurance quotes.
We even reached out to over 40 finance experts about this issue, and it turns out that over 80% of them would choose a term life policy over a whole life policy. Their decisions seemed to be mainly tied to the more affordable term life insurance premiums as well as the ability to get an online term life insurance policy.
Below are real life examples of the premium differences between the two products:
Term Life Insurance
( Coverage for a specified term length )
Health Rate: Preferred
Length of Coverage: 30 Years
Coverage Amount: $250,000
Monthly Life Insurance Rate: $21.63
Plan Rates and Options Provided by Havenlife.com
Whole Life Insurance
( Coverage for your whole life )
Health Rate: Preferred
Length of Coverage: For Life
Coverage Amount: $250,000
Monthly Life Insurance Rate: $145.00
Plan Rates and Options Provided by Principal Life
Simply Insurance recommends a term life insurance quote for most of our shoppers over any whole life insurance products.
How much life insurance do you need?
Most insurance companies allow you to purchase up to 30x your annual income, but we recommend that you have at the least 10x your annual income in life insurance.
So if you make $50,000 / year, a policy for $500,000 would be our suggestion.
Just remember to buy life insurance that you can afford.
If the life insurance premium of 10x your annual income is too expensive for you, go down to 5x your income, just make sure you can cover your beneficiaries life insurance needs.
When you are looking at any of our term life insurance quotes you can always start off with the lowest term lenght fo the maximum amount of coverage.
Compare life insurance costs to other monthly expenses; it's super affordable
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Term Life Insurance
*Life Insurance Rates are Based on a 30 Year $250,000 Term Policy for a 30 Year Old Male
What does term life insurance cover?
A term life insurance payout is another form of a lump sum payment, once it's paid out to your beneficiary they can use it to pay for anything.
Here is a list of a few things you can do with a life insurance payout:
- Pay Off Your Mortgage
- Get rid of your car note
- Clear credit card debt
- Cover Kids College Expenses
- Pay taxes
Can I get term life insurance online?
If you are looking to shop term life insurance online, then you have come to right place. We have made it easy to apply for life insurance online with some of the most technologically innovative companies in the nation.
Our carriers make buying life insurance online incredibly easy and affordable with instant term life quotes and immediate decisions. Don't be shy, use our term life insurance quote engine today to get covered with our A rated Carriers through AM Best without agents calling you.