Cheap Life Insurance Virginia VA

Reader’s Question:

An agent of a life insurance company here in Virginia suggests I should get a term life insurance if I want a cheap life insurance rate. Is she correct in saying that a term life insurance policy is the cheapest and the most popular option of all life insurance policy offerings?

Martha

Alexandria, VA

Thank you for asking Martha

Yes. Term life insurance is the simplest to understand and poses to be the cheapest to buy on a net cost basis. It provides death benefits without any savings, investment, or “cash value” components for the coverage period.

Over the set period of term, you are guaranteed that your premiums will not increase. The company cannot cancel you as long as you regularly pay your premiums. Term life insurance remains to be the popular choice due to its guaranteed renewal and guaranteed convertibility.

You can get instant quotes from the internet so you can compare the rates given to you in Virginia. Also ask your life insurance agent in Virginia if the policy offered to you contains guarantee renewable option, which grants you the right to continue coverage beyond the initial rate guarantee period without a medical exam. Also verify if it is guaranteed convertible, which reserves you the right to convert your coverage to any cash value policy that the company might offer at current rates without having to take a physical exam.