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I am currently 30 years old and in excellent health but since I am getting ready to start a family, I want to be prepared for the future of my loved ones. After reading about different life insurance options, I am deciding to go with Term Life Insurance for 20 years.

Is it true that Term Life Insurance premiums don’t change throughout the life of the term? If so, shouldn’t I sign-up now while my annual payment will be low and locked in at this rate?

My employer offers a very small life insurance benefit that I am already a part of but I want more just in case.

While I am asking, are there any circumstances where a payout won’t be made if I were to die under a term life insurance plan? Is it guaranteed? What if I (God forbid) get Cancer or have a heart attack?

Thanks in advance!
Wow, what an amazing set of responses. Thank you!

To add to my details, I do work and make $60k annually. My wife just got laid-off so is temporarily unemployed.

Should you buy a circular saw at Home Depot, before the prices go up?

Life insurance is a financial tool. Do you have a JOB, you need the life insurance to get done for you? Sounds like not yet, but maybe soon.

It’s true, that level term insurance, the premiums stay the same (except in extremely rare circumstances) for twenty full years. You’d want to add a guaranteed renewable and convertable rider to it, also.

I don’t know that you’ll see a huge premium change between this year, and two years from now.

If you buy a standard term policy, typically, it won’t pay out the first two years if you suicide, or if you lied on the application about something.

Any specific model as well?

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If I would work in either countries as accountant , Which allow me to live at better standards and save some money

Probably pretty similar.

If you took 100 people in a similar situation it would be about 50/50 for each country. Some years or in some situations one may turn out slightly better than the other or vice versa.

It could even come down to your situation eg if your family is from the US or you speak French then Canada may be better as it’s closer to your family or you can get a bilingual job in French speaking parts of Canada. But if suffer from blood circulation issues that are affected by the cold then go for Australia…

I can get a better rate on new term life insurance because I do not need a medical exam from AAA but I take a prescription for high blood pressure which has been controlled for many years but my current policy has a red flag in there for it from 20 years ago. Do I have to tell AAA about the prescription for high blood pressure and the fact that I already have a policy now because if I do I fear I won’t get the advertised rate which will kill the savings. Opinions appreciated.

Sure, as long as you realize if you die, the insurance won’t pay out, because the white lies void the policy.

They’re going to find out about it. They’ll check with MIB. And then they’ll cancel you for your lie, and that lie will follow you for every other application you file, because it will go on record at MIB.

And, for the record, it’s not a ‘white’ lie. It’s a material misrepresentation. A white lie, is telling someone they don’t look fat.

I’m a 29 year old smoker otherwise in great health

Try this site

usainsurancequotes.net

Here you can compare quotes from different companies

I recently retired from my job and lost all my benefit’s . I was wondering I am 62 years old and if I buy term life insurance at 62 and if something should happen to me in a year or so would my family collect the 15,000 policy or would they get a different rate. I have no idea how Life insurance works. Can anyone tell me the best Insurance to get at my age. I am in good health but don’t want to leave a lot of expenses if I pass away. I would appreciate all answers

Most policy’s have a 2 year look back window. As long as you didn’t outright lie on your insurance application the full death benefit of the policy would pay out. An outright lie would be like saying you didn’t have cancer, but you really did.

Your first question should be what do I want the policy to do? Do you want a large face amount but only for a set period of time (term) or do you want a smaller face amount that is guaranteed to last forever (permanent)?

Buying online and through an independent life insurance broker is how you will get your best deal too. Good Luck!