The simple answer is that term life insurance is the purest and simplest form. If you pay the premium, “the company” will pay the death benefit. As long as your term life policy is a level policy, your rates will not increase in the term policy, and they will stay the same for that exact term.
Term insurance coverage is not just less expensive than a traditional whole-life policy. It’s substantially less costly. For example, a 35-year-old male in Washington can get a $200,000 20-year term policy for around $12/mo. Whereas that same $12/mo. I would buy about $1445.00 of a death benefit.
As you can see often, the difference in premium is thousands of dollars per year and tens of thousands of dollars over one’s lifetime. Talk with your agent, Brian Gruss, today and see how inexpensive a term policy is. Even if you already have a term policy, let’s look at it now. And term rates are the cheapest than they ever have been.