Guaranteed Term Life Insurance

What is Guaranteed Term Life Insurance?

Guaranteed Term Life Insurance refers to the guarantee provided by level term life insurance.

Level Term Life Insurance provides a premium and coverage amount that are guaranteed to remain the same during the guaranteed period selected. Usualy for 5, 10, 15, 20 or 30 years.

For example, a $200,000 term life insurance policy guaranteed for 20 years will have a premium and insurance coverage amount that stays the same for 20 years. Select the term for the time period that you need to have life insurance coverage.

You have several options once your term life insurance policy expires.

If you don't need life insurance protection, you can cancel the policy.

If you still need or want life insurance you can apply for "re-entry". This usually requires you to take a medical examination. If you're approved for coverage you can get a new policy, usually at a higher rate.

Or, you could compare rates online to find the best offer for guaranteed term life insurance.

If you're unable to find other coverage you may be able to annually renew your expiring policy until you reach age 95. Each year the rates will be higher, much higher as you get older.

Declined for life insurance? Find out about your options if you have life insurance coverage declined.

Important: Always choose a term period for your term life insurance that will meet or exceed the time you need life insurance coverage for. When the policy expires, premiums may be much higher to purchase a new policy.

What is Guaranteed Insurability? - Learn how you can get guaranteed coverage in the future, when buying a term life insurance policy today.