Term Life Insurance

If you have your life insurance with any other agency or carrier, you are probably paying too much! Each week, we help people discover that they can obtain more coverage, for a greater length of time, and for less money.

Deacon & Deacon represents almost every life insurer on the market. We work with you to determine a proper amount of coverage, help you decide how long you want the coverage to last, and screen your health to determine which insurer will likely make the most favorable offer. Generally, we are able to obtain more coverage for longer, and at a lower price!

Term Life Insurance is the most basic type of life insurance and is covers life insurance needs for a specific amount of time.  Term Life insurance lasts for a specific amount of time.  You can choose terms of 1, 5, 10, 15, 20, 25, 30, and 35 years. There are also “Return of Premium” Term Life policies that will give you your premium back at the end of the term, for a higher initial premium.

If you purchase a term life policy, the policy will have a level premium for the length of the term you select, and will pay a death benefit if you pass away during the time the policy is in force.  At the end of the term, you may be able keep the policy, but at extremely high rates that will increase every year.

 

Who Needs a Term Life Insurance Policy?

Term life is purchased to cover temporary needs, i.e. to protect a mortgage, to protect your family until children are to the age where they can support themselves, business purposes/loans, or for those who have large coverage needs.

What Happens at The End of The Term?

As mentioned above, term insurance has a level premium for the length of the term, and then begins to dramatically increase in price.  Highly rated companies (the kind we work with), have what is called a conversion option that allows you to “convert” part, or all of your term insurance to a plan that will last for your entire life.  This can be very beneficial for someone who has experienced a change in health and may not qualify for a new policy, or pay an increased rate, as the insurance companies will base the rate off of the health of the person when they originally applied.

How Do I Get a Quote on a Term Life Policy?

Contact us for a West Virginia Term Life Insurance Quote today and we will guide you through the process of determining a proper amount of coverage, explaining the different types of coverage, and allowing you to select the plan that best meets your needs. Or, get instant quotes and request an application below.

 

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