According to a study performed on behalf of the Insurance Information Institute, the most popular type of term life insurance purchased in the U.S. is level term life insurance.
The reason level term life insurance is so popular is because it provides guaranteed level rates and coverage for 10, 15, 20, or 30 years.
Also, level term offers you some of the most affordable prices for a term life insurance policy.
Whereas, decreasing term life insurance may be affordable, the amount of life insurance decreases each year.
Return premium term life insurance may offer a return of premium if you outlive the term of your policy, the rates are much higher than for level term insurance.
If you don't want to take any physical exam to qualify, there is term life insurance with no medical exam required, just a few health questions to answer. However, your rates may be higher than those for fully underwritten term life insurance requiring a physical exam.
Insurance without any Medical Exam,
Just a Few Health Questions.
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