Is A No Load Term Life Insurance Policy The Right Choice For You?
You can obtain this coverage in many different ways
. Unlike traditional policies where you have to set down and speak with an agent, you can obtain a no load term life insurance policy by speaking with someone over the phone, or by simply filling out the paperwork and mailing it in.Some people think that obtaining life insurance over the phone simply sounds crazy. But, to be honest with you, the same people that are selling you this insurance over the phone are actually licensed agents that are well versed in the policy that they are selling and have gone through lots of training to be able to sell you the policy.
However, the company will not be the one responsible for paying this agent a percentage on your premiums. Instead you pay your adviser the first time that you make your initial payment to begin your policy. After the first payment has been made, many have been content in seeing that their payments thereafter were substantially lower.
However, a no load policy does not acquire any kind of cash value like other life insurance policies do. So, do not expect to get the same attributes as whole life policies have. You will however save money on this policy which for some is a greater benefit.
Since, the policy does not acquire cash value, there are a lot of people that simply have turned to saving up money so they can have cash value put aside if anything were to happen to them. Having a bank account doesn't cost any money and when you have a no load policy you will be able to save the difference because of the cheaper premiums.
There are some states that do not acknowledge these policies. It is imperative you want a no load policy that you do some research to ensure that your state offers this type of coverage. If it does, there will be medical questions that you will be required to answer in order to receive a policy as well as a physical that you may well be put through.
Really, the biggest advantage of the policy is its low price, everything else is practically the same. In the event of making a claim, you have to be able to file a lot of the claims on your own, unless you want to pay to have an adviser file a claim for you. That is why these policies are perfect for business minded people who can do this themselves.
You can save yourself a little bit of money to be able to do the things that you want. You can be assured that your family would be taken care of if something untoward happend to you and you were covered by a no load term life insurance policy.
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