Best term life. 30-Year Term Life Insurance Policy -

Welcome to InsureChance, the first online life insurance marketplace. We are an independent online insurance agency committed to providing you with the highest quality of service in the most efficient manner. If you stumbled across this article you must be looking for a 30-year term life insurance policy or are simply wondering what a 30-year term life insurance policy is. Either way, you have come to the right place! Here at InsureChance, we provide the most unbiased and informative articles in order for our clients to make their own educated decisions without having us push you one way or the other. The following are some highlights from the article; 30 year term life insurance policy.

Term life is a type of temporary protection designed to cover you for a certain duration.

Most 30-year term life insurance policies are locked in for the duration of the term and have fixed premiums

. Just like any other term life insurance, a 30-year term life policy will automatically renew but premiums may get expensive.

A 30-year term life plan would be ideal for those who need coverage to fulfill needs and is perfect for those who have a lot of liabilities like mortgages or student loans.

There are three options after your term policy expires: You can let it Expire, You can Renew it Annually, Or you can Convert it.

The best companies who offer the most affordable 30-year rates are; Foresters Life Insurance Company ($1,000,000 for all ages except 60); Lincoln Financial Life Insurance Company ( $250,000; $500,000 for those between 30-50); Assurity Life Insurance Company (all face amounts for ages 20-25); SBLI Insurance Company ( $250,000; $750,000 for those between 35-45); and Americo Life Insurance Company (best only for 60-year olds for face amount of $250,000)

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What is Term life?

Term life is a type of life insurance that provides coverage for a short and specified period of time. The “term” represents how long the policy remains in force. Depending on the life insurance company, you will be given a choice of 10, 15, 20, 25, and 30-years to choose from. This type of insurance is actually the most affordable in the market and is perfect for short term needs.

30-year term life insurance

Like we mentioned before, term life is a temporary form of life insurance designed to protect you for a certain life stage. In this case, 30-years would be the specified period of time. Most 30-year term life insurance policies are level which means your rates will remain the same for the entire term. Just like any other term life insurance, a 30-year term life policy will automatically renew but premiums may get expensive. Most 30-year plans are convertible prior to age 65 or end of term but you’ll want to double check with the carrier.

30-year term life insurance is best for:

Term life insurance plans are a perfect solution for someone looking to insure a specific time of their lives. A 30-year term life plan would be ideal for those who need coverage to fulfill needs and have more liabilities than assets. Most people use their 30-year term life policy to protect their family from losing a home or defaulting on major loans. It is important to look at your individual situation and decide what is best for you.

Choosing the amount of your term policy depends largely on the reasons you want to buy life insurance in the first place. When determining the length of your term policy you should take into consideration your age, if you just bought a home, just started a family, you should also consider your spouse if he/she is working right now or staying home and looking after the kids until they’re old enough. Once you take all of these factors into consideration then go below to our quick and easy quote engine and start shopping around for quotes with the best companies.

Best 30-year term life insurance companies

This is always our favorite topic, the BEST life insurance companies. According to our quote engine, we were able to determine who are the best life insurance companies to offer 30-year term plans. We based this off their affordable rates according to age. If you are 20-25 Assurity Life Insurance Company is the company for you, they offer the best rates for those ages 20-25 for all face amounts ($250,000; $500,000; $750,000; $1,000,000). If you are 30-35 Lincoln Financial Life Insurance Company are the ones who offer the most affordable rates for a face amount of $250,000-$750,000. For all ages, Foresters Life Insurance Company offers the cheapest rates for a million dollar policy. For those of you who are between the ages of 40-45 Lincoln Financial is the most affordable for face amounts of $250,000-$500,000 and SBLI are the best for a face amount of $750,000. If you are 50-55 then American National and Foresters are the best companies for and for our 60-year old crowd, Americo Life Insurance Company is the way to go but they only offer a face amount of $250,000. So basically to sum up who the best companies are here is a more comprehensive list:

Foresters Life Insurance Company ($1,000,000 for all ages except 60)

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Lincoln Financial Life Insurance Company ( $250,000; $500,000 for those between 30-50)

Assurity Life Insurance Company (all face amounts for ages 20-25)

SBLI Insurance Company ( $250,000; $750,000 for those between 35-45)

Americo Life Insurance Company (best only for 60-year olds for face amount of $250,000)

30-year term life insurance quotes

We have provided you with a table that shows you all of the most affordable quotes for a 30-year term for each age group! If you are curious to see for yourself feel free to go below this article and fill out our easy quote engine and see all of the best quotes offered to you by the best companies on the market. Keep in mind that these quotes are based off a male with preferred health so if you have any medical conditions your quotes will look different than this chart.

What happens after 30-years?

Whether you choose a 10, 20, or 30-year term the policies are no different once you reach the end. There is a common misconception with term life insurance policies that once the term expires most believe that the insured will get to enjoy being covered without having to continue their payments. That is not the case, you will have three options to choose from;

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You can let it Expire. If you decide that you no longer need life insurance you can cancel the plan or let the policy lapse by not paying it anymore. However, bear in mind that you will have to start a brand new application process if you do this. This means that if you were in great health when you had your original policy and become unhealthy once your policy expires and you want to buy another policy you will get rated up due to your health deteriorating.

You can Renew it Annually. Most term life plans are annually renewable until age 95, so after 30 years you can renew it each year until 95 without any qualifications. If you choose to renew your policy annually your rates will increase astronomically over time.

Or you can Convert it. Out of the three options, this option is the best. You can transform your term plan into one of the permanent options that the company offers and you’ll want this done prior to age 65 or before your term is done. The good part of this option is that you are able to convert your policy regardless of health and you can keep your health class the same as the one you were given at the inception of the policy. The downside of this option is that your rate will be adjusted to your new age so depending on how old you are when you decide to convert will be how much your new rate will be.

Final Thoughts

In conclusion, whether you decide to buy a 10, 20, or 30-year term life policy you should consider working with us! Like we mentioned before, we are an independent life insurance agency who offers a free service of finding you and your family the best life insurance policy. We work with over 60 top rated companies which means we have a wider selection of options than most of our competitors. We will do all the shopping around for you so that you can spend more time with those who matter the best, your family. After we shop around for the best quote depending on your specific needs, health, and lifestyle, we will do the whole application for you. That’s it, you’ll be insured super quick! Let us do all the hard work for you, give us a call today or if you have any questions or concerns call us at 888-492-1967.

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