Each option has its pros and cons.
With option A, you have coverage your entire life, access to cash values and possibly dividends, but you pay significantly higher premiums each month.
With option . B, you have affordable insurance coverage but if you need to buy another insurance later, a life insurance policy may not be so affordable anymore, especially if you are facing new health problems and not to mention that you have aged.
Now with that there is an option of 40 years, you do not have to choose between the length of the protection or value for money. You can have both.
According to the CDC, life expectancy in the United States is 78.6 years. And again, these would mean that you have to spend for these processes. A 40-year insurance balances the odds a bit.
Life insurance is designed to protect against what happens in life. Having term protection protects your family from financial ruin if you die unexpectedly during your best income. And a 40-year insurance policy can even protect your loved ones until your retirement years.
Earlier I mentioned that this new 40-year insurance policy is only available to those who are 45 years old or younger. Let us discuss a little more details about this policy.
If you do not use tobacco, Jeanna is right, you have the opportunity to apply for a 40-year insurance up to the age of 45. But if you use tobacco, the maximum age drops to 40 years. Banner Life is currently the only life insurance company offering this 40 year insurance *.
You can easily apply for this insurance through the Quotacy website. Enter your basic information and simply slide the arrow all the way to the right to see your quote and then apply.
»Compare: Thermal Life Insurance Quotes
So, if you are looking for life insurance coverage some options. The term now runs from 1
If you have any questions about life insurance, be sure to leave us a comment. Otherwise, cancel next week when we answer the question What age should I buy life insurance? Goodbye!
* Protective now also offers a 40-year policy.