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Why Term Life Insurance Coverage
Insurance for your family will be the best gift you can offer to them. And yes, we're talking about life insurance. Some people are still unaware of what insurance can offer and can benefit your life.
These types of policies serve as your security blanket, providing you an emergency fund for you and your family when unforeseen scenarios occur.

There are two major types of plans: term and whole or permanent life insurance. These two provide the same benefits that are to secure you and your family or business financially. We're going to discuss first the term insurance, the benefits you can get, its types, and its policy.
Pure Protection & Affordability
Term Life Insurance also is known as pure life insurance, is a type of life insurance policy that provides coverage at a fixed rate payment specified term and limited period.
Once the period expires, the holder can no longer benefit, but he/she can either renew the coverage, convert the policy into different coverage or conditions, or allow the coverage to terminate.
But when the holder dies during the term, the beneficiary will be paid and received the death benefit. This policy is less cheap than the whole insurance policy. Besides, this type of insurance is well suited for short-range goals.
Why Purchase Term Life Insurance?
If your family relies on your income. It is important to start planning for your family's future. It is terrifying to think, but no one likes to plan for their deaths.
Even so, thinking what's best for your family is to save them from the world of financial stress. Buying term insurance is a good investment that would attenuate the most critical risk for your family.
How Much Does Life Insurance Cost
Figuring out exactly the cost of life policy depends on several factors, and that includes:
1. Age - the younger people are likely to have lower premiums because they are less likely to die at a young age in the near-term.
2. Health - is the number one factor that can affect your insurance cost. Insurers require the enrollee to take medical exams and answer health questions because poor health means high premiums.
3. Gender - generally. women lives-longer than men who typically die at a younger-ager, so men often pay more for insurance.

Most term policies have level benefits and premiums, so the premiums stay the same throughout the term.
How Do Policies Work
How does a Term insurance policy work? When you buy a term life policy, an insurance company promises that your beneficiaries will pay and receive the set amount if you die during the policy's term. In return, you have to pay a monthly premium to the company for the term's duration.
There are a few things you need to consider when applying for this type of insurance:
An application process.

Before they let you apply for the term, the insurance provider needs to assess how much of a risk you are to insure. This is called the “underwriting” process. They'll typically ask for a medical exam to evaluate your health, and want to know more about your lifestyle, hobbies, and what you do for a living.
- Choosing a term length. The biggest question to ask for yourself when buying this policy is “How long do I need coverage for?”. If you're applying for term insurance you have to consider the length of its coverage. If you have a family it is best to choose a term long enough to see them out of the house and through college. The longer your terms are, the more you'll pay each month for the given coverage amount.
- Deciding how much death allowance you want. The holder should decide to get enough benefit to care for his or her family's need if you're not there to support them.
- Name of beneficiaries. The common question asked is “Who will be your beneficiary?” It is typically answered by family, but it doesn't all have to go with one person. The division of your death benefit depends on you. Like for example, you can divide your death grants into 50% to your spouse and the remaining will be divided for the rest of your children. Or you could choose to leave some or donate to a charity organization or even a friend. It all up to you to decide your beneficiaries.
Types Of Term Life Insurance
Different types of Term Life Insurance you can buy.
As you consider getting life insurance, the provider will start explaining about a different kind of term policies. As they provide specific benefits over specific terms but they differ in terms of cost.
- Level Premium: Also known as the level term; this is the basic and most common type of policy. This type of insurance is guaranteed to stay the same for the entire term.
- Yearly Renewable Term: Or simply says annual renewable term. This policy covers you for the rest of the year, with an option to renew without asking for a medical exam for the term - but at a higher cost each year, your premium will go up as you age.
- Return of Premium: As the name implies. This type of term insurance policy provides coverage for a specified term, such as 10, 20, or 30 years. Once you passed away during the term of your coverage the death benefit will be granted to your beneficiaries. However, if the holder lives longer than the course of the policy, he or she can refund all the premium rates tax-free to the insurance company.
- Guaranteed Issue: Applying for this type of policy is easy because it does not require a medical exam. That means regardless of your health situation you cannot be declined or turned down. Being the easiest policy, this type of coverage considers an applicant’s poor health, and premiums are usually more expensive. This policy may include 2 to 3 years waiting period meaning if the policyholder dies within the first two years of having coverage, and the policy won’t payout. And the death benefit amounts are typically smaller than traditional than other policies.
Benefits Of Life Insurance
One more thing to look about Term Life Insurance is Convertibility. It is a term insurance policy that allows the holder to converts its coverage into a permanent whole life policy at a later date. It is a feature offered by almost all major insurance companies.
Term Life Insurance plan offers financial security for the whole family in the case of an unforeseen accident of the policyholder. The customer is covered for a long period while the premiums are affordable. Plus, the convertibility feature offers if you want to switch from different insurance.
Conclusion:
In conclusion, no matter what life stage you are in, the family is always our top priority. Protect your journey and your loved ones by securing their future. Find the best term insurance plan that will fit your needs and will ensure and support your family when you’re not there to help them.
Get Online Term Life Quotes
Everyone pretty much knows they need life insurance! Here you can get quotes and review the rates at your own pace. When ready to proceed we can help you "no pressure" or salesmanship here!
Quick Video Below That Walks You Through Getting Your Online Life Insurance Quote
Online Life Insurance Quote Engine!
Life Insurance Carriers We Work With
As independent life insurance agents here in Boise. Our office has the opportunity to work with the nations top carriers. Most of them do a great job but we know which can help you get the absolute best rates during the underwriting process. This comes from years of experience in the wholesale and retail marketing channels.
Some of the top companies to consider based off of experience:
- Gerber Life
- Foresters
- Banner Life
- Transamerica
- John Hancock
- American General
- West Coast Life
- Prudential Financial
These are a small sample of our great life insurance partners. We work with dozens more and it depends on the rates and underwriting or health issues. Once we know more about your situation we can really narrow down the best choice. We offer free online quotes for you to review for yourself what your rates may end up being after approval from the company.
Please Call Us With Any Questions.
Boise Health & Life Insurance Agency - Serving Boise The Treasure Valley & Idaho