How to Secure Term Life Insurance at the Lowest Rates in 2025 + YouTube Video
In these uncertain times, ensuring the financial security of your family has never been more crucial. That’s why
we want to focus on low cost term life insurance – the most affordable and reliable life insurance option available.
Don’t let rising inflation and economic uncertainty keep you up at night.
With our low-cost term life insurance plans, you can have peace of mind knowing that your loved ones are protected, no matter what the future holds.
We fully understand the importance of finding the right coverage for your unique needs. We’re here to guide you every step of the way, making the process simple and hassle-free. With term life insurance, you can provide financial stability for your family when they need it the most.
Don’t wait until it’s too late to take action to secure the future of your loved ones. Contact us and we will explain all your options from over 40 competitive carriers to choose from.
Remember, when it comes to protecting your family’s financial well-being, term life insurance is a smart and affordable choice.
We can help you find the perfect term life insurance policy that fits your needs and your budget. Your family’s future is too important to leave to chance.
Affordable Term Life Insurance lasts for a specified duration, safeguarding you during that time. Be cautious when deciding on the term length to avoid being uninsured at a critical period of your life.
Table of Contents
What Is a Term Life Insurance Policy?
Term life insurance is the most affordable life insurance policy available and covers you for a specified period as determined in the policy. Remember that a 
life insurance policy is also a contract where the insurance company agrees to insure your life as long as you pay your premium.
But the critical part to remember is that term policies will insure your life for only a specific period stated in the policy.
After the term period expires, the policy will be terminated. You can keep paying on the policy, but the premiums will be extreme after the original term period expires.
But wait, that is not always the end of your term policy, you can convert your term coverage into permanent coverage at a pre-determined time before the policy expires.
Converting your term policy into a permanent policy is a great safeguard to extend the life of your policy. If at this time and your health takes a turn for the worse, your conversion will remain at the same health classification that you were originally issued. No physical exam or additional medical questions will be needed.
How to Secure the Lowest Term Life Insurance Rates in 2025: YouTube Video
How Do Term Policies Differ From Whole Life & Universal Life Insurance?
Term life insurance is temporary coverage, while Whole Life is permanent life insurance based on a cash value system. Whole life insurance pays an interest rate that builds up a cash value that grows with time. This sounds great, but Whole Life insurance is very costly and is not cost effective when compared to term.
With higher face amounts, people purchase today. Unfortunately, Whole Life products cost themselves right out of business. Many life insurance companies do not even offer Whole Life insurance anymore.
Today, many people buy million-dollar life insurance policies, which are always very affordable term products. However, a whole life policy could easily be ten times the cost of a cheap term life insurance policy.
If you need a permanent form of life insurance, universal life is your best choice. It will provide permanent coverage at a fraction of the cost of whole life products.
No-Medical-Exam Life Insurance: A Closer Look
The process is very simple: No-Medical-Exam term life insurance refers to the application process required to purchase
these products. In essence, these plan designs are term products with a much shorter application process in which no physical exam is required.
These plan designs usually have a brief turnaround period where an applicant can be approved within several days instead of weeks. The most important thing to remember is that no-physical-exam life insurance will stop being a no-physical-exam application if you have serious health concerns.
Instead, insurance companies will put on the brakes and request a physical before moving further. These plans also cost a little more because the carriers don’t get a chance to review your mental and physical health in such great detail.
To move forward with the underwriting process, you need to fulfill the No Medical Exam Policies conditions. If you have a serious medical issue like heart disease, you won’t be eligible for a non-medical application.
Advantages of Term Life Insurance Policies
1. They offer a large selection of Riders available to customize the policy design.
2. You can convert the term policy to a permanent Universal Life policy.
3. You can designate a time if you only need life insurance for a specific time.
4. Your death benefit is level and never changes with time.
5. Your premiums will always be the same from year to year.
6. The cost of the policy will always be the most cost-effective compared to other plan designs.
Expanding Term Life Insurance Benefits With Additional Riders?
Here are just some of the riders available to add to the Term policy:
1. Guaranteed Insurability Rider
2. Return of Premium Rider
3. Child Term Rider
4. Accidental Death Rider
5. Long-Term Care Rider
6. Accelerated Death Benefit Rider
7. Family Income Death Benefit Rider
8. Waiver of Premium Rider
How Do Insurers Determine an Applicant’s Rates?
The cost of term insurance will depend on several main factors, such as:
1. Your Current Age
2. Your Gender
3. Driving Record
4. Credit History
5. Health History
6. Height & Weight
7. Dangerous Sports Involvement
8. Hazardous Occupations
9. Parent Health History
10. Medical Information Bureau Report
What Elements Make an Applicant a Greater Risk?
Usually, the main factors that will impact your rates will be medical conditions. Also, your occupation and the sports you are involved in. Suppose you have a severe medical condition. Your rates can increase based on the severity of these health issues.
For example, cancer, heart disease, and any life-threatening condition can drastically increase your rates and even decline your application.
If you have a dangerous occupation, the insurers will also consider this. For example, fields such as pilots, commercial divers, storm-related electrical workers, etc., can increase job-related deaths due to their hazards.
Dangerous sports can also come under the microscope, such as rock climbing, drag racing, skydiving, and scuba diving, among many others. Any sport that has a history of fatalities will be taken into consideration.
Should I Buy Term Life Insurance From My Employer?
There is nothing wrong with having term life insurance through your employer. The only problem is you can’t count on it being there for the long haul. If your employer decides to cut expenses, your life insurance could be the first expense to go.
Also, the face amount offered to employers is usually not nearly high enough unless you belong to the upper management level. You may be terminated and lose your group life insurance coverage no matter how secure your job is.
Since you cannot depend on having life insurance through your employer, your family’s financial future depends on you having life insurance continuously. Purchasing a personal policy will be the only way to play it safe.
However, you may want to consider life insurance through your employer for supplemental coverage.
Does My Height and Weight Affect My Application?
If there ever was an essential ingredient in a life insurance application, it is your height and weight. Applicants who are
overweight or obese may see increased rates or even a decline.
So, being overweight is a concern life insurance companies take seriously.
An overweight person can develop serious medical problems such as diabetes, heart disease, or stroke. Therefore, being overweight or obese can play a significant part when calculating your health classification.
Effective Strategies to Save Money When Buying Affordable Term Life Insurance
Utilizing Rate Bands:
Purchasing a face amount that will allow you to take advantage of rate bands will help you save money. Rounding off a number like $200,000 to $250,000 can work wonders.
As another example, if you are interested in a $450,000 face amount, rounding it off to $500,000 would reflect another decrease in the cost of coverage. Most people have never heard of rate bands, but working out which one you are in can help you reduce your premiums. Click the link above to learn how they can save you money.
Laddering Multiple Policies:
Laddering policies is where you use two or more policies with different term periods to create a life insurance portfolio. Here is an excellent example of how laddering policies can reduce your life insurance expenses. Suppose an individual needs $1,000,000 in life insurance coverage.
You don’t have to buy one policy with a face amount of $1,000,000. Instead, it would help if you had life insurance for 30 years with a total death benefit of $1,000,000. In this scenario, we will assume that you need the most coverage for the first twenty years to cover a mortgage and college tuition.
You can purchase a 20-year term policy for $750,000 and then buy another policy for $250,000 for 30 years. After twenty years, the 20-year Term policy drops off, and you are now left with another ten years for $250,000. This will be less expensive than purchasing a policy for 30 years with a $1,000,000 face amount.
Pay Annually If Possible:
Your mode of payment can also help save you money. You can save as much as 10% by paying annually vs. monthly or quarterly. Many people choose a billing mode depending on their budget.
If you can comfortably pay your premium annually, do it and save some money. This will help you save money for years when you look at how many years you will be paying premiums.
Underwriting Reconsideration:
If your agent receives the final rates and believes he can improve the health class, he can ask for a reconsideration. If this does not work, your agent can use your application to re-apply with other companies.
Consider Face Amounts Carefully:
Face amounts are also known as death benefits. Make sure you spend enough time carefully planning out the best face amount needed to provide just the right amount. If you buy too much, you will be over-insured and have higher premiums.
If you don’t purchase enough, your dependents face a financial dilemma. Look closely at what your dependents would need to live on if your income suddenly stopped.
How to Apply for Term Life Insurance Quickly & Easily
The best way to apply for life insurance is over the telephone. You no longer have to complete an old-fashioned 30-
page paper application or a confusing online application.
Instead, all you have to do is sit back and a friendly gal in our SnapApp telephone application department will ask and answer your questions.
There is no better way to apply for term life insurance than over the phone. The application will only take about 15-20 minutes to complete.
Our Final Thoughts
If you are considering purchasing term life insurance and want to ensure you get the lowest premiums, give us a call and we will be happy to assist you. The good part is there is no cost or obligation to our help!
If shopping around for the best rates is not your cup of tea, let experienced independent agents such as ourselves do all the work for you.
These poor economic times with growing inflation will eventually drive up new business rates. So apply as soon as possible so you can lock in your rates.
All the best,
Jack Venturi
Should you have any questions or need further assistance, please don’t hesitate to call us at 708-334-6226 for an immediate response. We’re always here to help!
