Why Term Life Insurance Is Probably Your Best Option
Hi, Boise! This is Chris with Boise Health and Life Insurance Agency.
So listen, today we're gonna be talking about term life insurance. It is my favorite life insurance product. I think it fits most of my customers the best.
You know, life insurance sometimes gets a bad rap because of the agents and how aggressive they can be on trying to sell large, premium, whole life permanent policies which honestly have a place in all of this and conduce well, as a supplemental type of retirement program.
But you gotta fund the policy, correctly.
And then we put enough money into him, and you got to do it early enough for it to make sense.
But for most of us, most, uh, dual income families, mom and Dad, working kids, just trying to get pure protection for as much as you can in case anything were to happen.
Term life insurance is probably your best option. And the great thing about term life insurance is most companies will allow you to convert the policy to something permanent.
Term Life Insurance FAQ's
Now, why you'd want to do that is, uh let's say you had a significant health change toe where you could never get insurance again or would be highly rated. Well, you can take your term life policy and there's gonna be contractual limits on this. Typically, you're gonna have up to a specified age that you could get up to and convert that policy. Um, uh, but and then the policy was also tell you typically up to 8 70 you can, you know, you can convert, so it just depends.
But typically you can get up to 65, 70, 69 with the companies that you can convert that term life policy into a permanent policy. And then that way, you're gonna always have insurance coverage. Um, because at that point, you could have, you know, You know, I'm not going to say your terminal, but you could have issues that's going to significantly reduce your life expectancy. So But anyways, let's go in real quick. Ok, this is our website.
We do health insurance in dental insurance and annuities and long term care insurance. Uh, we just like to focus on life insurance. I think it's the number one, the number one product, that every family should have any business to be quite honest. So from our website here. You come over here to life insurance quotes we have in coming here, Uh, you know, leading to do a quick quote online. And our deal here is we just don't want to pester our clients. So you come in here and do your unquote This is just a real quick and real simple, you know?
And it just clipped next mail. I was go kind of right here. If you're a pretty good overall health, that's probably where you want to be. Tobacco, By the way. Tobacco. Okay, if you are a tobacco user or cannabis, Canada's and pot is considered nicotine tobacco rates. Okay? It's gonna double almost right after that with tobacco rates. So just be prepared for that. Um, and if you're thinking well, quit and re apply for life insurance.
Yeah, well, I wouldn't suggest that I've had friends and family members and clients were like, Boy, I I was gonna quit and or they did quit or they never did quit. And then they had a health issue and they couldn't get insurance anymore. So don't wait. Just get it if you if you If you get the life insurance and then you quit. We can always back to go back to the company and ask for a rate reduction. No problem. That's the easy.
That's the best way to do it on. Then your heightened way just to kind of so we can you can make sure we kind of get you in there. I think I'm about to 15. I don't know about right now with the code, Um, the coded, the Kobe I probably put on a couple. Uh, yeah, probably put on a couple pounds there, So Okay. And then it comes in here so that there's this is a little bit tricky. So appear its term and permanent it will. You got a click on which one you want. So and then here, when you click on term, it's gonna say accidental their death term and return a premium.
Just leave it at term, you know, is fine. Yes, we do have return of premium. It costs more, but that is a great plan. So I'll do a video a nice some other time. But in the next little death, I'm not a big fan of of we're just gonna keep it a term Let's see. Here we Here's a calculator up If you need help selecting what your death that they should be But, uh, you know, and you just like this over. But listen, a good rule of thumb is 10 times your annual income. That's just a good rule of thumb.
So if you're making you know 65 70,000 year, you know, you're probably gonna want to be in the 6 50 range. Okay, Now, the theory behind that is you'll have your loved ones will have 10 years of your income to really get back on their feet. Make sure everything's OK. 10 years is actually, you know, a pretty good time to make sure they get everything figured out and covered. Uh, are my favorite plan, depending on your age, but most this. What we sell the most is 20 year term, so you'll just click on the 20 year term.
You're gonna have to enter. You have to enter your DOB. Ok, here's your inter your your email. We all get a notice about this. But don't worry. Work now, kind of, we're not gonna pester you. And if you need help just let us know that we might reach out once and say, Did you need some help? What do you think? Okay, so and then here we go. Now, here's the good thing. About term, okay? It's affordable. This is a 20 years, $650,000 policy.
Now, down here, we can change this up. That might be a little hot.Maybe we just need to cover something less. Ok, just rerun the quote, and you're going to get the new rates. Okay, so that's fantastic. And also, you can adjust what you want to look here. 20 years is on the average, but, you know, maybe you just need the coverage for 15 years, and now you're down this 74 73. Now you still have to go through underwriting.
Okay, But the one they always show you 74 73. Okay, now, there's a couple options down here. Um, you know, uh, principal John Hancock in SPLI. I okay, It says no exam. Now, what that means is we'll take We'll put principle up here. Okay? What that means And based on your answers to the underwriting questions and exam, May or may not be required, so it doesn't mean no exam. It just means maybe no exam. That's what they mean by that. Maybe no exam. If your overall good health, you probably won't have to do it.
Okay. And which is great that that just speaks everything up here. So, uh, last time going from Lome? Yep. And Okay, so same thing SP allies the same thing. And I would I love I love Banner, but 74 but for a little bit more money you can get o are starting apply for a no exam policy. And it could just really speed things up. So anyways, this is what you do. You got this right here. There's a pdf right here. Will tell you about the product. Um, and then you can literally click right here and start and start the application, like, literally right here.
All you do is click next and you start entering your information, okay? And you will just follow the screens through to the end. You click sign. And you can get this all done. I will get an email where I will click sign as well, and we'll help you get this ball rolling. So, um, the best thing you can do is get the phone interviews out of the way to see how that all done, because that speeds things up.
So all right, well, that's it for today. For term life insurance, some quotes and rates. I hope you found this useful. And contact the office any time. And myself, for one of our awesome agents will be a little more than happy to help you out with any of your insurance needs.
And have a great day.
Knowing Your Term Life Policy
Term life insurance is one of the most basic and common types of life insurance. It is also one of the most affordable. A term life insurance policy provides coverage for a set period of time, typically 10, 20, or 30 years. If the policyholder dies during that time frame, the death benefit will be paid to the beneficiaries. If the policyholder does not die during that time frame, the policy will simply expire and no death benefit will be paid.
One of the main advantages of term life insurance is its affordability. Because it does not build cash value like whole life insurance, it is much less expensive. This makes it a good option for people who are looking for temporary coverage or for those on a tight budget.
Another advantage of term life insurance is that it is very simple and straightforward. There are no complicated rules or riders to worry about.
What Factors Affect Term Life Insurance Policy Rates
There are a few factors that affect the cost of a term life insurance policy. The most important factor is the age and health of the person being insured. A smoker will pay more for life insurance than a non-smoker, and someone with health issues will pay more than someone who is healthy. The amount of coverage also affects the price. A policy with $1 million in coverage will cost more than a policy with $500,000 in coverage. The length of the policy also affects the price. A 10-year policy will be cheaper than a 20-year policy.
Get The Most Affordable Term Life Insurance Rates In Boise
When it comes to life insurance, there are many factors that will affect your rate. To get the best rate on a term life insurance policy, you will want to shop around and compare rates from different companies. You can also use an online life insurance calculator to help you determine how much coverage you need and what your rates will be.
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Original post here: Boise Term Life Insurance Policies - Best Quotes & Rates - What Companies - Broker Chris Antrim