Term life insurance is well-suited to meet high, short-term protection needs for the lowest initial cost.
Term life insurance coverage can do a good job of meeting immediate needs and may provide the opportunity to later move or convert to permanent life insurance without providing proof of health.
One of the simplest and most effective ways to ensure your insurability is to apply for a 10 year Term policy with the intention of conversion to a 20 year Term Policy within 5 years. Some insurance companies will allow this without having to provide any additional medical or underwriting information.
If your budget is a concern, it may be wise to qualify for as much term insurance as your budget will allow and plan to convert at a later date.
This puts you in a position to convert all or a portion of your term life to permanent insurance at a later date without having to prove insurability.
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Contact Us and a licensed life agent serving Concord will take time to ensure you clearly understand all your options.
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Application: A statement of information made by a person applying for insurance. It identifies the plan and the amount applied for, the life insured and the beneficiary, and provides other data useful in evaluating the risk.