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$250,000 Term Life Insurance Rates

by Jeff Rose on March 25, 2013 · 0 comments

250000 term life insurance policyAt a certain age, the future becomes more uncertain than it has ever been and there arises a need to provide for the well being of family after your gone.

An inexpensive $250,000 term life insurance policy can go a long for both young people and  for seniors.

No matter your age, having the insurance coverage goes quite a long way in providing for the financial security of your family.

Seniors are an essential market for many insurance providers. Most providers are developing customizable policies to match the specific needs of seniors. The prices for these policies are decreasing every year making them extremely inexpensive.

Because of their low cost, these policies can be more than just a financial back-up. Here is a list of benefits these policies provide.

Low Cost

Term life policies are extremely inexpensive. Although the most common reason that people don’t take out a life insurance policy is because they think it costs too much.   As the table will show below, life insurance is cheap!  There is no reason why any family with dependents should not have some sort of life insurance coverage.

$250,000 Term Life Rates for Man

SexAge$250,000 20 year Term
Male30$13.05/mo
Male40$17.84/mo
Male50$43.28/mo
Male60$113.32/mo
Male70$418.35/mo

$250,000 Term Life Rates for Women

SexAge$250,000 20 year Term
Female30$11.96/mo
Female40$15.88/mo
Female50$32.41/mo
Female60$77.87/mo
Female70$269.28/mo

As you can see, having a $250,000 term life policy for a healthy 30 years-old will only cost around $11-$13 per month.

Buying Future Money

The final thing any one wants is to become a burden on their own family. A term life policy keeps that from happening. When you purchase a term life policy, you are really buying money that your family can use later. This money can be used for household bills, medical expenses or anything else they might need.

Estate Planning

Term life policies are popular among seniors because they can be used as part of an estate plan. They can be used to pay estate taxes to insure that the property stays in the family instead of being sold to pay the government. Term life insurance helps to ensure that your property and the value of your estate is not drained by taxes imposed after your death.

Survivor Benefits

Your spouse and minor children can receive survivor benefits for a specified period of time. These benefits will replace your pension or retirement income after your death. This gives your family the time and ability to adjust to life without you. The bills will be paid and they won’t have to deal with financial insecurity in an already grievous time.

Continue Providing

Everybody always wants to do more for their families but we can’t always get everything done in one lifetime. A $250,000 term life insurance policy will allow you to continue to take care of your family after you are gone. You can still pay off the house, send the kids the college and take care of whatever else needs done.

 

photo credit: theparadigmshifter via photopin cc

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