Term Life Insurance is your gateway to peace of mind, offering affordable financial protection for a specified period—typically 10, 20, or 40 years—with fixed premiums. This straightforward, no-nonsense approach ensures your loved ones are financially secure if the unexpected happens. Imagine the relief of knowing your family's future is safeguarded without breaking the bank.
Term life insurance features the most straightforward and affordable life insurance option by covering you for a set "term" (typically 10 to 30 years). If you pass away during the term period, your beneficiaries receive a cash payment.
The answer lies in the names. Term life insurance uses premiums to cover you for the determined "term" of the policy, expiring if not claimed within that timeframe. Whole life insurance can last your entire life if premiums remain current. Whole life policies also have the potential to accrue cash value, depending on the policy. Still, premiums typically cost between five and 15 times more than a term life policy for the same benefit amount.
Term life may provide a good match for someone seeking affordable coverage to replace lost income over a critical period, such as while raising children or paying off a mortgage. Whole life insurance offers options for those with complex financial situations or someone desiring the security of lifetime coverage.
Fixed premiums make it easier to budget for essential protection.
Choose the term that best fits your needs—whether it's 10, 20, or 40 years.
Provides a cash payout to your beneficiaries, ensuring their financial stability.
You don't have to talk to an agent if you don't want to, but if you do, our licensed agents remain ready and eager to answer your questions. They're here to help you find the right life insurance policy for you.
Get anywhere from $20,000 to $2 million in term life insurance protection. Choose between 10-, 15-, 20-, and 30-year terms.
Our 100% online and hassle-free process makes it easy to apply. What traditionally took weeks can now be done in minutes, and you don't even need a medical exam (just answer a few health questions).
Take your policy for a trial run with a 30-day money-back guarantee. If you're not fully satisfied in the first 30 days, we'll refund you in full. After that time, you can cancel your policy with no cancellation fees.
It's typically simple for your beneficiaries to file a claim and receive a cash payout. If you pass away while your coverage is in force, your beneficiary files a claim with your insurance carrier (as identified on your policy documents), and the carrier will issue the death benefit payout. Barring unusual complications, your beneficiary will receive an untaxed, lump-sum payment for the value of the policy's death benefit. For example, if you purchase $1 million in coverage, your beneficiary will receive a tax-free $1 million lump-sum payout.
A claim may not be paid if underwriting finds that parts of the application were answered untruthfully or if the claim is the result of death by suicide within the first two years of the policy being in force.
Term life insurance, commonly lasting from 10 to 30 years, ensures beneficiaries receive a death benefit if the policyholder passes away while coverage is in force. Term life insurance premiums are often more affordable than permanent life insurance policies because permanent life insurance policies are active for the policyowner’s lifetime as long as premiums are paid. Additionally, it's important to note that term life insurance does not accumulate cash value over time.
Term life insurance doesn't offer a cash value component, so policyholders can't cash out the policy. It's designed purely for death benefit coverage during the specified term, helping to provide financial protection for beneficiaries if the insured passes away within that period.
Generally, life insurance death benefits aren't subject to income tax. However, if you cash out a life insurance policy, any gains may be subject to taxation. Understanding the tax implications is crucial. Know more about the taxation of life insurance here.
While Term Life Insurance covers you for a specific period with lower premiums, Whole Life Insurance offers lifetime coverage with a cash value component but comes at a higher cost. Term life is ideal for those seeking affordable, straightforward coverage during key financial years, such as raising children or paying off a mortgage.
At AssureAnchor, we make applying for term life insurance quick and hassle-free. Many of our policies don't require medical exams, so you can secure coverage swiftly and with confidence.
Should your income be critical for your family’s daily expenses and long-term goals like education or home payments, term life insurance can bridge the gap, helping your family sustain their standard of living in your absence.
If affordability is a key consideration, term life insurance is an excellent choice. It offers essential life insurance protection at a lower cost compared to other types of policies.
When you have temporary financial responsibilities, such as personal loans, business start-up costs, or credit card balances, a term life insurance policy can cover these liabilities, sparing your family from financial burdens.
Term life insurance stands out for its simplicity. With a fixed premium and a known death benefit, it’s a hassle-free option that’s easy to comprehend and manage, ensuring no unexpected complications.
Making a big financial decision can be daunting, and questions are natural. You have the option to consult with our licensed agents, who are always ready and eager to assist you. They’re here to help you navigate the options and find the perfect term life insurance policy tailored to your needs. Whether you prefer to handle things independently or seek expert guidance, AssureAnchor has you covered.
At AssureAnchor, we simplify the application process with our 100% online system. No need for lengthy waits or medical exams—just answer a few straightforward health questions. What once took weeks can now be completed in minutes, ensuring you get the coverage you need swiftly and hassle-free.
Experience peace of mind with our 30-day money-back guarantee. Take your term life insurance policy for a test drive—if you’re not completely satisfied within the first 30 days, we’ll issue a full refund. Plus, enjoy the freedom to cancel anytime without any cancellation fees after the trial period.
Navigating the process of choosing life insurance can seem scary at first, but with a little guidance, you can find the perfect policy for your needs and goals. Here are the top 7 mistakes that could prevent you from getting the best life insurance.
While some traditional life insurance policies are known to require a lengthy application process and medical underwriting, instant life insurance has emerged as a convenient and efficient alternative.
That’s why we took the time to deconstruct a life insurance policy document to help identify the key sections you’ll need to read through before you move forward.
For people ages 40 and over, the average rate increase is 10% every 6 months. For all people regardless of age, the average rate increase is 6% every 6 months. Once you purchase, your rate is the same your whole term.
Copyright © 2024 AssureAnchor. All right reserved.
