Term life insurance is designed for people who can't afford whole life insurance or don't need such complete, savings-generating coverage. Life insurance of any kind, though, is a necessary evil. Though thinking about death can be intimidating or even a little depressing, it is important to protect those around you. Term life insurance offers an affordable, short-term alternative to whole life insurance. Also, consider the added benefits of term life insurance, like the option to borrow against it in the event of a financial emergency.

Invest in the best term life insurance policy you can afford and breathe easier. Make an informed and confident decision by understanding your options, accepting your restrictions and purchasing the right plan for you.

1. Understand your options when it comes to buying term life insurance coverage.

2. Accept your restrictions of qualifying for term life insurance.

3. Purchase the right term life insurance plan to meet your needs.

Action Steps
The best contacts and resources to help you get it done

Understand your options when considering term life insurance

Term life insurance offers a variety of term lengths including 5, 10, 20 or 30-year terms which are most prevalent. They offer between $50,000 and $100,000 worth of coverage. Affordable term life insurance is made for those who need coverage for a short period of time, such as before a mortgage is paid off or while the insured's children are young and still at home. This provides protection during the vital growing and building years of life.

I recommend: TermSite provides information on cheap term life insurance and offers actual customer reviews. They also advertise a 30-day money back guarantee if you are not satisfied with your policy. Consult with a financial adviser for more specific information. Visit the National Association of Insurance and Financial Advisers website to find a financial adviser you can trust.

Accept your restrictions when it comes to qualifying for term life insurance coverage

There is some term life insurance with medical exam required, though most will ask basic health questions whether or not they require the full exam. Look for these types of coverage if you have any concerns about being denied for medical reasons. Consider your age and income availability.

I recommend: G.T.L. is a highly recommended company offering affordable term life insurance rates with no medical exam. State Farm Insurance also offers highly rated term life insurance with no medical exam. They also offer the option to upgrade your policy to a whole life policy at any time, should your needs change.

Purchase the right term life insurance plan to fit your needs

Compare the features, cost, quotes and companies before purchasing your life insurance plan. Since term life insurance is popular for its low premiums and the ability to borrow against them, look for a plan that offers great low rates and a quick maturity time.

I recommend: Visit Budget Life for the best term life insurance quotes online. Input some basic information and receive a term life insurance quote online from multiple companies to compare side-by-side. ING Life Insurance Company is ranked #1 by A.M. and received AA for S&P Rating. They provide affordable term life insurance online. To check out insurance companies for the best term life insurance quote, visit 1st Quote. They continuously rate and evaluate term life insurance companies and their policies.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Consider choosing a term life insurance company with a local office if you want easy access to your agent.