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No one likes to think about life insurance, but as a responsible adult, you need to make sure your family will be financially secure if you die. Fortunately, term life insurance is available for a relatively low monthly fee. Follow these tips to get the best term life insurance rate. What is Term Life Insurance? Term life insurance pays a death benefit to your beneficiaries if you die while the insurance is in force. It doesn’t accumulate any cash value and your coverage ends when you ... * Live past the term and don’t renew your policy * Stop paying the premium Get Enough Insurance Experts recommend that you buy five to ten times the amount of your annual salary in life insurance, depending on how many children and how much debt you have. If you don’t work outside the home, you need enough life insurance to help pay someone else to take over your duties, such as looking after your children. Choose a Term You can buy term life insurance for periods of one to thirty years. Common terms are five, ten, and twenty years. You may be able to get a better price by purchasing a longer term policy. Some term life insurance policies are “level-term,” which means the price you pay remains the same throughout the term of the insurance. In other term life insurance policies the premium increases slightly each year as you grow older. Compare Quotes To get the best rate on term life insurance, you need to get quotes from several different companies and then compare them. The easiest way to do this is by using the Internet. When you sign on to the Internet go to an insurance comparison website. Here you'll complete a short form with information about yourself and your insurance needs. After that you'll receive quotes from multiple life insurance companies. On the best insurance comparison websites you can even get quick answers to your insurance questions by talking with an insurance professional through an online chat service. These sites only deal with A-rated insurance companies, so if you buy insurance through them you'll get it through a reliable company. (See link below.) Visit http://www.LowerRateQuotes.com/life-insurance.html or click on the following link to get the best term life insurance rate quotes from top-rated companies and see how much you can save. You can also get more insurance tips there. The authors, Brian Stevens and Stacey Schifferdecker, have spent 30 years in the insurance and finance industries, and have written numerous articles on getting the best term life insurance rates.
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