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20 Year Term Life Insurance

               Protect your family and business                             Get your quote for 20 year term life insurance instantly

 

 


How long a term should you purchase?
  1. When you want to be sure the family you love will not be left in financial straights should you die, it is wise to take a look here.

  2. You have young children you want to make sure  they will have finances to care for them until their education years are over.

  3. For those young families that are living on a limited budget the purchase of a term insurance policy would be a good choice.

  4. If you are a money borrower for your business, your bank will probably require some security. They may require a life insurance policy on your life for the term of the loan with the bank as the beneficiary in case of your death. You can get a quote for the life insurance right here......

For Agent Help Call: (800) 601-5433

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Coverage amounts range from
$100,000 to $5,000,000

At Wequote.com you can compare life insurance rates from over 20 of the top Insurance companies.

Just complete the life insurance quote form above and then click the "Compare Now".  It is that easy to receive your free no strings attached quote. No personal information is required. You will not be contacted unless you request.

Your 20 year term life insurance quotes will be shown from the least to the more expensive  company rates with the ratings of each company attached.

 Yours for Life,
Louis Hammond


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You want to provide life insurance for your family. But how do you decide how much life insurance do you need? And how long will you need insurance coverage?

Things to consider......How many $$$ would my family need to continue forward with their lives without me? Look at your situation.....

  • Are you married?
  • Do you have children? How many?  What ages?
  • How long will you be responsible for their care?
  • Do have a mortgage on your home? How Long?
  • What is your net worth? 

Some planners suggest a life insurance policy to cover 3 to 5 times your annual salary.

The Buy and Buy Again Problem

Some insurance agents will tell you not to worry. Just buy the cheaper 10 year term product and buy another 10 year term product when the first one runs out. Some companies even offer this strategy as a policy option they call "re-entry". The problem with this re-entry logic is that you face all the medical and insurability issues over again. If your health changes you may not get a new 10 year policy for the price you think.

And how much would you save anyway? Is it really worth taking a chance? Using the same health status as we did for the 35 year old, a 45 year old can buy a 10 year policy for $400 and a 55 year old can buy a 10 year policy for $985. Let's compare that with the 20 and 30 year premiums:  

Age 10 + 10 + 10 20 Year 30 year
35 $165 $345 $529
45 $400 $345 $529
55 $985   $529

But let's take another look. Let's assume that during the first 10 years you gained some weight. We'll assume that you're still insurable but that companies are no longer willing to give you the cheaper preferred rates that were available to you when you were 35. What would a standard health 10 year policy cost at age 45? Instead of a premium of $400 the premium would be $630. And what would a 55 year old pay for a standard health policy? Instead of a premium of $985 the premium would be $1,450. Let's look at the same chart again: 

Age 10 + 10 + 10 20 Year 30 year
35 $165 $345 $529
45 $630 $345 $529
55 $1,450   $529

What would happen if you developed a more serious problem than weight gain? What if you became diabetic? The standard premiums could be increased with medical extras. Suddenly you could be looking at premiums that are double standard health.

Is this really a risk worth taking? Remember, if our 35 year old buys the 30 year premium today, the preferred premium of $529 is locked in for a period of 30 years. It cannot be changed by the company. Is $45 per month too much to pay for $500,000 of life insurance?

I remember when grandpa used to say, "when I was your age...". While I hate sounding like grandpa I remember the first 10 year level term policy that I ever purchased. I was 25 years old and the policy was for $100,000. The non-smoking premium was $205 per year guaranteed for 10 years. Compared to the decreasing term that I had been buying before, $205 was a bargain.

Compare that to our 35 year old non-smoker. For $529 per year he can buy $500,000 of 30 year guaranteed coverage. I have to tell you, in the strongest language possible, that it makes absolutely no sense trying to save money buying a 10 year policy. The added risk just isn't worth it. And if our 35 year old buys that 30 year term policy, they can throw the policy in the top drawer and forget about it because the coverage and the premium are guaranteed for 30 years.

Most people purchase Life insurance to provide their family with financial security at the time of their death.

But what if you experienced a chronic,critical or terminal illness?

Would your insurance policy allow you to accelerate your death benefit to cover the associated costs while you are still alive?

Welcome to Hammond Insurance, where we believe life insurance should be there when you and your family needs it most. That could mean accessing your benefits while living should you experience a chronic, critical or terminal illness or at the time of death.

Protect yourself and your family with more than just a death benefit.

Purchase Life Insurance for LIFE!

Some chronic, critical and terminal illnesses include:

  • Heart attack
  • Stroke
  • Cancer
  • Amyotrophic lateral sclerosis
  • Major organ transplant
  • Inability to perform 2 out of 6 activities of daily living (toileting, transferring, bathing, eating. etc.)

To learn more about the protection living benefits can provide;

 Call our office:

(209) 918-4016