There are a few things to consider when purchasing term life insurance, such as how much coverage you need and for how long. Once you have a good idea of your needs, you can compare different policies and prices to find the best plan for you.
Term life insurance is a type of life insurance that provides coverage for a set period of time, usually 10-30 years. If you die during the term of the policy, your beneficiaries will receive a death benefit. If you live to the end of the term, the policy will expire and you will not receive any death benefit.
There are two main types of term life insurance: level term and decreasing term. Level term life insurance provides coverage for a set period of time at a set premium. The death benefit will remain the same throughout the term of the policy. Decreasing term life insurance starts with a higher death benefit but the death benefit decreases over time. The premium remains the same throughout the policy.
Which plan is best for you depends on your needs and budget. If you need coverage for a long period of time, level term life insurance may be the better choice. If you are on a budget and only need coverage for a short period of time, decreasing term life insurance may be the better choice.
You can compare policies and prices from different insurers to find the best deal. Be sure to read the fine print and compare apples to apples to make sure you are getting the best policy for your needs.