Short Term Life Insurance // Quotes & Tips For Temporary Life Insurance
It’s hard to look past the importance of life insurance.
However, it can be a challenge to find the time to get covered or try to figure out all the things surrounding life insurance.
But, there is something you can do:
Short term life insurance plans are the best option when it comes to getting coverage for now while you figure out your future plans.
In this post today, I am going to go over how temporary life insurance works, who should purchase it and how you can get short term life insurance quotes and coverage in under 5 minutes.
In This Article
Another Name For Temporary Life Insurance Is?
You might not know this, but temporary life insurance is also known as short term life insurance.
It was given these names because of how long the policy will stay in force.
Until recently, there had been only two types of short term life insurance.
However, a new option has entered the playing field, which makes getting short term life insurance super easy.
While you might be wondering which of the following best describes annually renewable term insurance, these three types of short term life insurance are your best bet:
Annually Renewable Term
An annually renewable term policy is a type of life insurance plan that will renew on an annual basis.
This means you can expect your rates to increase with every year you keep the policy.
This type of coverage is only recommend for situations where you will only need coverage for 1 year and no more.
2 Year Term (New Option)
A new option that just hit the market is the 2 Year Term life insurance policy.
This policy is a great option for anyone who needs short term coverage for a low price while they figure out their next set of life events.
This is going to be the best option for a short term life insurance policy.
5 Year Term
This is the longest of the short term options; however, you will find that most companies are bypassing this option and going straight to the 10 year term life insurance with no exam policy.
Why Choose A 2 Year Term Policy?
The best thing about this 2 year term policy is that you can apply for your policy and get approved in under 5 minutes.
There are no exams to worry about and no drawn out applications and best of all, you don't have to deal with an agent if you don't want to.
If you check out the sample rates below you will see how super affordable these policies can be.
You are able to get up to $500,000 in coverage for a very reasonable price.
Right now I could get a $200,000 policy for just $14.00 per month.
It gives you breathing room
A 2 Year Term really gives you the space you need to make the best purchasing decision available once you have had time to look into all of your life insurance options.
There is nothing better than having the ability to actually do your research on something before you purchase and this policy gives you 2 years to figure it out.
Rates For Short Term Life Insurance
Rates for short term life insurance are super affordable and your benefits are the same as with any traditional life insurance policy.
Short Term Life Insurance Quotes For Women
2 Year Term
*Rates are based on a 33 year old female in preferred health non-tobacco for a 2 year term
Instant Life Insurance Quotes For Men
2 Year Term
*Rates are based on a 33 year old male in preferred health non-tobacco for a 2 year term
Who Needs a 2-Year Term Life Insurance Policy?
You might be a great candidate for this policy if you are:
Someone Who Procrastinates
You know you need to take action but you just don't seem to be able to pull the trigger because you know there will always be time to complete the process.
This is the best product for you because it takes less than 5 minutes to get some quick coverage in-force, you don't have to think about it.
Afraid of Committing
If you are afraid of choosing a policy amount without knowing what the future could hold, then this policy is great for you.
It really gets rid of you being afraid that you won't have enough coverage or that you are getting locked into the wrong plan.
A Freelancer, Side Hustler, and Entrepreneur
If you are doing any of the above professions, then you need life insurance, but you probably don't need as much coverage today that you will need tomorrow.
Maybe you want to test out your business idea for a few years or see how freelancing works, this is the best reason to start a 2 year term life policy.
In The Middle Of A Life Event
If you are switching careers, having a baby, getting married, or just in-between jobs, a short-term life insurance policy is probably your best option.
It gives you the ability to stay covered until things settle down and you know which direction you are going in.
Short Term Is Better Than No Coverage At All
Purchasing a short term life insurance policy is all about giving yourself some breathing room to take out the time to better understand your life situation.
Just think about it, why go uninsured just because you need to figure out future plans.
If you plan on buying a home or renting, will you be going back to school or even having kids or starting a business?
You need to have all of these things in mind when it comes to determining the amount of life insurance you will need.
While you figure these things out, it's an excellent idea to get some coverage started.
This is what makes the 2 year term policy such a great option.
And it gets better:
You can apply for another short term policy if your current one ends or go ahead and purchase the long term coverage you need.
The Best Company For Short Term Life Insurance
While there are some excellent no exam term life insurance companies to choose from, we haven't found any better than Bestow life.
Check out our quick overview of them below:
About Bestow Life Insurance
Bestow is backed by North American Company for Life and Health Insurance.
North American has been around for over 100 years and was founded in 1886, and as of today North American holds an A+ (Superior) rating with A. M. Best.
Bestow believes that great life insurance should be affordable, convenient, and smart.
And every bit as straightforward as buying any other gift for your family.
Riders & Options
No additional riders or options are available on this policy yet such as the accelerated death benefits, term life conversion option, or accidental death benefit rider.
Simply Insurance Thinks
Bestow is the most affordable simplified issue, no physical exam term life insurance product in the market. We are seeing clients go from application to approval within 5 minutes.
Bestow can cover you faster than any product on the market.
Want to learn more about them? Check out our full Bestow life insurance review.
Life INSurance resources
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Now that you understand what short term life insurance is and how it works, it's time to take action!
You can get quick quotes and buy your policy fast by clicking the button above, and you can also check out the review we discussed above.
It’s great that you know you need some temporary life insurance, now it’s time to get to it.
Sa El is the Co-Founder of Simply Insurance and a licensed Insurance Agent with over 11 years of experience in the industry. He specializes in Life & Health Insurance and is certified in Long Term Care Insurance in the state of Georgia. He is also a licensed real estate agent in the state of Georgia (License #382602), an entrepreneur, insurance educator, and freelance writer.