Contact Life Insurance
A call life insurance policy is a type of life insurance policy that most people recognize. It’s a good idea of cash benefits for your loved ones (also known as your beneficiary) if you die during the call. Calls are for the length of time the plan lasts. The common term is 10, 20 or also thirty years.
The benefits of a call life insurance policy are:
- Cost. Call life insurance policies only offer a death benefit, which is cash paid to your beneficiary if you die during the call. It does not consist of savings benefits like long term life insurance policies. This makes it one of the most cost-effective types of life insurance coverage, at least initially. Many people are pleasantly surprised to learn how affordable a call life insurance policy is. For example, a healthy, balanced 30-year-old can get a $250,000 20-year title calling plan that costs about $13 per month.
- Versatility. You can choose the length of coverage you want based on your needs. Many people choose turning points such as when their children graduate from university or when they retire when to leave coverage. Your call can last as low as a year to as long as thirty years or more.
- Simplicity. Getting a call life insurance policy usually involves only 2 choices: how much coverage you want and for the length of time you want it to last. A certified insurance representative will help you select the amount and call for coverage. To get a basic idea of how many life insurance policy calls you need, see our Life Insurance Needs Calculator.
- May not require clinical examination: Many, but not all, types of call life insurance coverage require clinical examination. Currently, there are options that do not require you to undergo a clinical examination. They usually provide you with protection as soon as you complete the online application and you certify. However, the amount of coverage may be limited and may be more expensive on a dollar-by-dollar basis compared to traditional life insurance policies that require clinical examination.
Find out more about on call life insurance policies Watch how a young mother, Summer, bought a life insurance policy that ended up being one of the most responsible choices she could have had to give birth to her child, Nathan.
Long Term Life Insurance
In addition to the death benefit, a long-term life insurance policy has several features that a life insurance policy does not have.
The benefits of a long term life insurance policy consist of:
- Long lasting coverage. As the name suggests, a long-term life insurance policy protects you forever, as long as you pay your expenses. Many people get reassurance knowing that they will always have real cover in position.
- Benefits of life. The advantage of long-term life insurance policies is that they can develop a cash value over time, which builds on a tax-deferred basis as does property in most retirement and tuition savings plans. The cash can be used in the future for any purpose, consisting of important turning points such as a house deposit, tuition fees or retirement. (Feel that withdrawing cash from the plan will reduce the death benefit if you don’t pay it back.)
- Lots of choices. There are various kinds of long term life insurance policies. Some offer a fixed rate of return while others let you choose a mix of financial investments for a variable rate of return. On the other hand, some require you to pay a flat fee while others let you vary the amount based on your financial circumstances. Others also let you skip premium resettlement and increase or decrease your coverage level on time.
Find out more about long-term life insurance policies See how the cash value accumulated from Pages’ long-term life insurance coverage enables their son, Adam, to pursue his unique dream.
Consider a Mix of Calls and Perms
Everyone’s financial situation is unique, and a life insurance policy is designed to address your true circumstances. While many people prefer calling or perm, others find that a mix of the two offers the best of both worlds. To see what can help you, try using our item picker.
With so many types of life insurance coverage out there, it can be a little confusing as to which (or which!) to choose and how to get one.
Among the best ways is to deal with a certified insurance representative who can guide you through the entire process. If you don’t have a representative or consultant to work with, check out our representative locator. You can also work directly with insurance providers. The following are corporate partners who support our charitable causes and can help you find protection directly or through their representatives or advisors. The key is to start today. Find more