Are you looking for long term life insurance coverage? Well alrighty then, you’re probably doing some research to find out if 30 year term life insurance works for you.
If that’s the case you’re in luck…
I’m going to walk you through your options AND provide some sample quotes to boot!
You wanna know the pros and the cons of longer terms? Betcha do! We’ve got you covered and I’m gonna share some insights into where you can find the best rates!
I WISH life insurance was a simple and easy process – but it’s not!
So let’s get the most bang for your buck because not all life insurance companies, terms or products fit everyone.
What Does 30 Year Term Life Insurance Mean?
Well, in a nutshell, people purchase 30 year term life insurance with level coverage to keep premiums fixed over a 30 year period.
As you get older, the cost to insure yourself increases, but if you select a 30 year level term you pay the average premium for those 30 years.
As we all know, health deteriorates with age. It’s a simple fact of life and insurance companies assess your premiums accordingly. Every insurer wants to do business with young healthy clients.
Why? Because they are very likely to outlive their coverage. Which means the life insurance company doesn’t have to pay out benefits.
So, they reward people who are young and in good health with inexpensive rates. That’s why I encourage clients to apply for life insurance when they qualify for the best premiums.
If you are in your 30’s and plan to have a family, it’s VERY likely that a 30 year term will cover those periods when you need protection the most – AFFORDABLY.
Psst! 30 year term life insurance no medical exam is a possibility.
So what are the ADVANTAGES of 30 year term life insurance?
I’m going to share them with you now!
Premiums are Fixed for 30 Years
If you get cancer or have a heart attack, you’ll retain coverage as if you were young and healthy. That being said, the premiums you pay are higher than 10 or 15 year terms because you’re locking in for a longer period of time. Which means more risk for the company! BUT at the end of the day having this sort of protection in place is one of the best things you can do to protect your family.