Some people believe that they have grown too old to purchase term insurance. They assume that term life insurance policies are only for relatively young adults, so older people always have to choose a permanent form of insurance like whole or universal. What they may night realize is that there are a lot of great no exam cheap life insurance policies out there.
While people in their sixties or seventies are unlikely to qualify for a 20 year term policy, many insurers are willing to extend an offer for ten year term life insurance to relatively healthy older folks. Some of these companies even offer no exam life insurance for policies with relatively modest death benefits. Permanent life insurance might provide a good solution for some seniors, but other retirees just want to find a way to buy cheap life insurance to cover them for the next few years, and the premiums for the same amount of whole or universal life will cost significantly more. These days, many seniors are starting businesses, buying new homes, and helping their adult children. They find that they have not outgrown their need for affordable life insurance just because they entered what some people consider traditional retirement age.
Why Buy a Ten Year Term Life Insurance Policy?
In many cases, ten years of coverage might be all you need. This could be true if you just refinanced your home for a decade or want to provide coverage until your kids have finished college and had a chance to begin supporting themselves. These are some of the advantages of term life insurance:
Additionally, most consumers know that life is uncertain. While they know they should have some coverage today, they might not really be able to predict what they will need in the future. If this describes you, you might search for a shorter term policy that you can either extend or convert to permanent life insurance in the future. That way, you can buy cheap life insurance now, but you can also keep your options open to change your mind about the type of coverage you should have in several years.
How to Find the Best 10 Year Term Life Insurance for Your Needs
Everybody’s different, and both options and premiums will be different depending upon location, budget, age, and health. Another critical factor that can determine your premiums is your choice of life insurance company.
These days, it is really easy to compare affordable life insurance quotes online using the state of art tool like ours. All we need is your zip-code to get started. Since insurance companies are also different, it is important to compare different plans and prices to make certain that you find the company that offers you cheap life insurance with the best coverage.
If you have any questions, feel free to contact one of our licensed agents. They’ll be happy to answer any questions you may have. We’re here to serve you!