Why our online quotes are different!
Not all term life insurance policies are the same - many offer free but important and valuable provisions while others do not. And not all term life insurance companies are the same - some are better for service, others excel at underwriting.
That's why our online term life insurance quotes compare premiums and compare details on four additional policy benefits. Plus, we offer our opinion on service and underwriting for each company. That lets compare and select the best company at the best possible premiums.
Here's the additional benefits we compare:
- Renewable to age: At the end of your term, a renewable term policy doesn't simply expire. Instead, coverage continues but premiums go up. The 'renewable to' age shown in your quote is the age to which the policy will continue to renew. Renewable term policies give you the option of extending your coverage past the end of the term, which can be vital if you've become uninsurable and need some extra time at the end of your term to determine your options.
- Convertible to age: Convertible term life insurance offers you the ability to exchange your term life insurance policy for a permanent life insurance policy, at the same underwriting class as your initial term policy, and the 'convertible to age' shows you for each policy how long that option is available for. Most importantly, you can do this exchange without providing any medical information. This option is vital for your term policy, as it allows you to lock in permanent life insurance if you become uninsurable during your term. We suggest that you ensure that the convertible to age extends past your initial term.
- Accelerated Death Benefits: Accelerated death benefits allows you to access a portion of your death benefit proceeds while still alive, if you experience limited life expectancy (generally less than one year). If you have a limited life expectancy, this option can provide you funds to be used however you choose.
- Exchange Option: This option lets you trade in your existing term, for a new, longer term policy (but only in the first years of the policy, which we show you in your quote). It can be used to 'wait out' higher premiums by purchasing a shorter and therefore cheaper term, get past your higher premiums, and then extend out to a longer term. i.e. if you're a smoker planning to quit, you could purchase a 10 year term instead of a 20 year term policy, then exchange to a term 20 policy after you quit smoking - thus exchanging to a non-smoking term 20.
Note: You should never purchase a term life insurance policy without the renewable and convertible options unless you have no other choice.
More Details: Clicking on more details for each company in your online term life insurance quote will display our opinion on each company including customer service, suitability for various client classes, and benefits and drawbacks of each company.