Questions to Ask When You Get a Term Life Insurance Quote

Getting a term life insurance quoteAre you shopping for affordable term life insurance? Here are some questions to ask life insurance companies when you shop around for a term life insurance quote.

  1. Are insurance rates fixed or variable? Variable rates on a term life insurance policy can give you a nasty surprise with your budget. If the policy does have variable rates, find out the exact terms and amounts.
  2. Is the policy renewable at the end of your term? You’ve paid a lot of money into a life insurance plan. Make sure you can renew it at the end of the term to continue your coverage uninterrupted. You may also want to find out if a medical examination is required at the end of the term before renewal.
  3. What exclusions exist with the policy? Many term life insurance plans have reasonable exclusions—but you’ll want to find out what they are so your loved ones don’t find themselves without term life insurance coverage if something happens to you.

 

Source:  http://www.gerberlife.com/gl/view/guide_products/10_20_year/index.jsp

Please note: Articles and other information included on this website are intended for the general interest of our readers, and are not intended to express the positions or views of Gerber Life or to provide or constitute, legal, financial, health or other advice. Gerber Life makes no claims, representations, or warranties as to the accuracy, completeness, or appropriateness of this general interest information for your particular circumstances. If you need legal, financial, health or other services, you should contact a duly licensed professional.

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