Increasing Term Life Insurance
Protect your family with coverage that grows!
What is Increasing Term Life Insurance?
You can’t predict the future, but you can prepare for it. That’s where increasing term life insurance comes in. Term life insurance is a great option for people who don’t want to pay for permanent insurance and aren’t interested in investing in their own policies, but still want to protect their families.
Increasing term life insurance is a type of term life insurance that builds up your death benefit over the length of the policy. This means you can have more coverage as your needs change over time, like if you get married or have a new baby.
Term life insurance is a simple way to help protect your family financially. The longer you have term life insurance, the more protection it provides. Since these policies are so affordable, getting the right amount of coverage is easy, and you can keep the policy until you die or the kids move out.
Is increasing term right for me?
If you’re looking for extra protection as your family grows or as your expenses grow, then increasing term may be a good option for you. Keep in mind that this type of policy generally has higher payments than other types of term policies because it covers more years.
How much does it cost?
The cost of increasing term life insurance depends on several factors, including your age and health. Your age determines how long your policy will last, and your health determines whether or not you’re eligible for coverage at all. If you are healthy, then you may be able to get more coverage than someone who is overweight or has high blood pressure or heart disease.
Why You Should Choose Increasing Term Insurance?
Term for Savings
You‘ve raised a family. You‘re ready to buy a new house, send your kids to college—all the things that make your life richer. Increasing term life insurance help you make that happen.
No need to reapply
With Increasing Term Insurance, increase your insurance coverage, any time you want, with no new underwriting or reapplying.
Protect in worst-case scenarios
If the worst happens, plan ahead. Your family's health and wellbeing should never be put at risk by unpredictable events or price increases. Increasing term insurance cover you against high costs and protect your family's future.
Cost-effective
Increasing term insurance is flexible, with competitive rates and the option to increase coverage – when you need it. It fits all budget and families.
Get Increasing Term Insurance Quote from Independent Insurance Agent!
Independent Insurance Agent is your partner in finding the right financial protection to match your goals, needs and budget. We work around-the-clock to help you find and buy the most affordable life insurance policies available. And we don’t stop there – we want to make sure you know how to manage your policy so it continues to offer peace of mind for years to come. Contact now and get a free quote for Increasing Term Life Insurance in Las Vegas, NV!
Increasing Term Life Insurance - FAQs
The death benefit increases over time based on a pre-determined schedule the insurance company sets. The increase may be fixed or tied to a specific index, such as the Consumer Price Index (CPI).
The benefits of increasing term life insurance include the ability to keep pace with inflation and changing financial needs over time and potentially lower premiums compared to other types of permanent life insurance policies.
The coverage you can expect with an increasing term life insurance policy depends on the policy’s terms and the pre-determined schedule for increasing the death benefit. You should work with an insurance agent or broker to determine the appropriate amount of coverage for your needs.
Many increasing term life insurance policies offer the option to convert to a permanent policy, such as whole life or universal life insurance. This can be a good option if your needs change over time and you want to maintain coverage beyond the term of your policy.
You should consider your financial goals, the length of coverage you need, and your budget when deciding if an increasing term life insurance policy is right for you. You may also want to consider whether you have other insurance policies, such as disability or long-term care insurance, that can help supplement your coverage. It’s important to work with a licensed insurance agent or broker to determine the appropriate type and amount of coverage for your individual needs.