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Every year millions are needlessly declined for life insurance or approved and paying far more than they need to. For 14 years, I have specialized in turning those situations around and finding the right life insurance solution at affordable rates. I give every client the personal attention they deserve. If you need assistance with your Life Insurance, please call me TOLL FREE at (866) 539-7914 for a free consultation .

6 responses to “What Happens If I Outlive My Term Insurance?”

  1. Michael

    When I plug your scenario into a spreadsheet I come back with a rate of return on the extra premium of 4.4%. That would be a tax free 4.4% for 15 years.

    Just remember that you would be locked in for 15 years to recoup your investment. If you lapse before 15 years you get a very small portion of your premiums back and a substantially smaller return.

  2. Hadley

    I like the way you inform and educate first, before taking a position.

    It’s best to help inform people about the meaning of life insurance, as well as their options, instead of pushing a certain plan.

    I agree with you about term life insurance providing protection, and if you outlive the term, it’s a job well done.

    Why not be happy you protected your family, and you lived beyond the term of your policy?

    I guess people just need to understand that yes, you do need to pay for life insurance. Life Insurance companies are in business to make money, just like any other for-profit business.

  3. life insurance broker Toronto

    Very true. Term Insurance has a lower initial cost; however the premiums only stay the same for a stated term – and the cost increases in a dramatic fashion after the term ends. If you don’t renew it your coverage ends and your premiums are gone. By contrast the initial premiums for a Permanent Insurance are higher than Term Insurance but your cost remains level. So it’s worth thinking twice before you sign the contract.

  4. Kayla

    I’m 27 and new to this whole life insurance thing. I’m planning on getting married in the next year and starting a family a year or so after. I was wondering if I could get a term insurance plan for 10 years and use it to pay off bills or other financial needs. I just want to make sure my family has everything we need and be secure. Or is it specifically for death related purposes? I’m not sure if this is considered fraud or not just wondering.