Once you realize the importance of life insurance, you'll face another important decision point: What type of life insurance is best for you? Before you commit to a plan, it's essential to take a look at the advantages of a term life insurance policy, both in its own right and in comparison to other types of policies.
A term life insurance policy is generally more affordable than other types of policies because it has lower premiums. This is especially true when comparing a term life policy and a cash value policy.
Cash value life insurance, like whole-life, universal, or variable life, provides a death benefit, but the cost is typically higher at the beginning because a portion of your payment is invested by the insurance company (so your policy builds a cash value that you can then later use). However, as with any type of investment, the return is not guaranteed and the fees associated with these types of policies can also be higher than with other forms of investments.
With a term life insurance policy, you'll almost certainly have a much lower monthly premium than you would with a cash-value plan. With Direct General, a $25,000/year term policy could cost you as little as 75 cents per day*.
Whether you're interested in life insurance for one year or 20, the length of term you need is available, and you don't have to pay beyond that.
Direct General's one-year term policies are renewable for two additional years with no change to your premium or coverage, so long as your premium is paid. Plus, with our Pay-by-Text program you can pay your premium from the convenience of your mobile phone and on the day of the month that works for you**.
Peace of Mind
The assurance that you're doing the responsible thing for your loved ones is arguably the greatest benefit of term life insurance. The proceeds from your plan can help provide financial security for your beneficiary that might not otherwise exist in the event of your death. With Direct General, that security can be extremely affordable - potentially as easy as giving up a single coffee or candy bar each day.
Get your free life insurance quote and see just how cheap life insurance can be!
*Per day amount based on annual premium for insured 18-50 years old with a $25,000 policy. Lower limits available. Policy terms and conditions apply.
Individual term life insurance by Direct General Life Insurance Company, Nashville, TN. Policy 58TL02010713. Premium and other terms will vary by state, the insured's age, and the selected coverage.