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If you watch TV, or listen to the radio, you will see or hear commercials that advertise life insurance.
“20-year term life insurance for only $20 a month.”
Are they real? Maybe.
Truth: In the best case scenario, the answer is yes. There are some things that you need to know…
- These rates are for those that are extremely healthy, including an ideal height/weight.
- They are for those that do not use tobacco, and have not done so for an extended period.
- These policies expire, which mean that the day after expiry, they have no value.
- The world is VERY, VERY competitive, and there are multiple carriers that will be able to provide prices within a very limited range ($10s of dollars a YEAR). That’s competitive!
Here, however, are the problems.
- You will be required to submit a sample, from a service that will arrange to visit you at your home or work.
- If you are rejected, then that information will be shared with other carriers, and that will make it difficult to gain acceptance at other carriers.