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What is long term life insurance?

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2009-05-26 12:54:50
2009-05-26 12:54:50

Long term life insurance refers to a term life insurance policy that is in effect for a long period of time, usually 15, 20 or 30 years. Term life insurance provides life insurance protection for a specific number of years, usually 1-30 years. A short term life insurance policy may be 1-10 years. A long term life insurance policy may provide coverage for 15-30 or more years. If so, Long Term Care (LTC) coverage varies, but can pay for nursing home, hospice, home health care, "meals on wheels" type of assistance and other needs of the elderly or infirm. With the cost of nursing home care rising every year, it's wise to look into it. Your risks of having an auto claim are a little better than 1 in 200, a homeowners claim is even more remote, but one in two will be in a nursing home. Now that we're living longer, I expect these odds to worsen. I have this coverage, and the monthly premium is about the same cost as I can expect to pay DAILY once I'm in a nursing home. Also, young people who become ill or have tragic accidents are at risk as well, and the earlier you purchase it, the cheaper it is. Term Life Insurance is in essence a temporary contract. This means that this type of insurance will expire after a specified term, usually between 10 to 30 years (though this can vary with individual providers). A long term life insurance policy is one with a coverage of 30 years. Unlike a whole life insurance policy, term life insurance does not accrue any cash value. Due to this, there are lower monthly premiums as you are in effect only paying for the 'pure' insurance, and not using this as an investment or savings. In the event of the insurer's death within the term, the death benefits can be claimed by the beneficiary. Since it offers high death benefits at inexpensive premiums, this type of policy is very popular. The main reasons for choosing a term life insurance policy would be to provide for your family in case of your death, to pay off any debts or mortgages, to cover funeral expenses and any estate taxes, to cover educational loans for your children, and to provide for an aging or retired spouse.

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The basic difference between long term life insurance and whole life insurance is that a term policy is life coverage only and this is also considered an advantage. One can buy a long term life insurance for periods of one year to 30 years, whereas whole life insurance is a combination of a term policy with an investment component.

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Companies that sell long term care insurance are American Fidelity Assurance, Berkshire Life Insurance, MedAmerica Insurance and Prudential Insurance.

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The long term health plans that AXA offer include: life insurance, accidental death, long term care for the elderly, pet insurance and dental insurance.

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There are a few of them that have high ratings for long term care insurance. They would be American General Life (AIG), Bankers Life and Casualty, State Farm Insurance, and New York Life Insurance Company.

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Long term life insurance can be purchased from a variety of companies. Select Quote helps people decide which life insurance plan is right for them, and thus, is a good first site to look at.

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No. You will only get "insurance" from an insurance company.

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There are several companies that offer long-term life insurance. In most cases, unless you are receiving it through a job, you have to apply. Applying online is simple and you can receive several different quotes. Metlife and AARP are two long term life insurance companies to help get you started.

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Prudential Life Insurance offers several different type of life insurance, including term life insurance. They offer complete term insurance or supplemental term insurance that can be added on top of any other insurance you may have.

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Prudential offers a variety of life insurance policies. Some of the different life insurance policies that they offer are Term Life Insurance, Universal Life Insurance, Variable Life Insurance&as well as Survivorship Life Insurance. bAlong with these different types of policies they also offer retirement planning, annuities and long term care insurance.

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No, term life insurance has a term, hence the name.

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A term life insurance is during the insurer's life only. When he or she is gone, then the insurance ends. The whole life insurance on the other hand has what the term life insurance covers plus more.

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Life insurance is a more general concept that may refer to either whole life insurance or term life insurance. Whole life insurance gathers value the longer you have it, whereas Term life insurance does not obtain any value that you may use before you die. Term life insurance only pays out when you die.

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Long term life insurance premiums depend on the age and health conditions of the insured person. A young man or woman in the early thirties can get an insurance for $500,000 for as little as $400 a year.

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Term life insurance will protect the policyholder should his or her life end unexpectedly. Term life insurance is often the cheapest of all available insurance. Usually, term life insurance can be converted to whole life insurance during the term. Whole life insurance will never expire and the rates will remain constant throughout the policyholder's life.

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Term life insurance is a form of temporary life insurance that provides coverage for a specific number of years. Term life insurance is available for 1-40 years, depending on your health and age. Term life insurance is usually purchased for 1, 15, 20 or 30 years. Term life insurance builds no cash value within the policy. Term life insurance is "Pure Protection". You pay only for the life insurance. If you outlive your policy term, the coverage expires. Level term life insurance is the most common form of term life insurance. Level term offers premiums and coverage amount that remain the same each year for the entire term of your policy.

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No, term insurance is not the most expensive type of life insurance. Usually, term insurance is the most affordable type of life insurance. Term life insurance usually costs 2-3 times less than permanent life insurance. Why? because term life is temporary coverage, usually for 1-30 years, and it builds no cash value inside the policy. See for yourself: Free term life insurance quotes at QualityTermLife's website.

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It depends upon how long you wish to have the coverage for. People with short term protectiopn needs, (1-20 years) might best be served buying term insurance coverage. People who wish to be covered for life should consider either whole life or universal life coverage. The most popular type of life insurance policy is term life insurance as it suits most people's needs. Term insurance provides the maximum death protection against the most affordable premiums. You can choose term periods from 1 to 30 years. There are various options within term life insurance to choose from. However, if you have long term needs, you may prefer to opt for permanent life insurance. For more information on types of life insurance you may find this site helpful: http://www.accuquote.com/types.cfm

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Term life insurance if only for the life of the coverage holder, once deceased the amount is paid to the beneficiary. Permanent life insurance, known as whole life insurance, combines term life insurance with an investment option.

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The services that the company Bankers Life and Casualty Insurance offers is mostly insurance. Some of the insurance they offer are life insurance, long term care insurance and annuities.

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term life insurance will last until you say no more. it could last 100 years or 50 years it all depends on you and what u want to pay for insurance..,

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One can get long term health insurance in the United States from LTC Insurance and AARP Medical Insurance. One can also get long term insurance from Long Term Care and Kaiser Permanente.

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Term life insurance is an insurance that is set for a specific time period, for example, one can obtain term life insurance for 30 years. Whole life insurance covers one from application to death.

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Generally, term life insurance does not return interest on your premiums paid. Term life insurance is temporary life insurance for a specific number of years. Usually term life insurance is available for 1-30 years. Term life insurance does not build cash value within the policy. It is "Pure Protection" with no investment portion to the policy. There are Return Premium Term Life Insurance Policies which may return a portion of your premiums if you outlive your policy term.

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Allstate insurance offers term life insurance with no exams.

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There are a few benefits in having a Genworth long term car insurance policy. It can help reduce the costs of extended home care when suffering a long term illness. It also combines long term care with life insurance simplifying the product.


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