Q. What is the longest term life insurance coverage period?
A. Term Life insurance is known for its affordability, the longest Term life you can apply for covers 30 years time period.
If you want even longer life insurance coverage, you need to consider Permanent life insurance products which there are a variety of products fitting different families' needs.
The most affordable one is probably Guaranteed Universal Life (GUL), it's like a "permanent" term life product with little to no cash value build up overtime.
You will have lifetime coverage, but you don't necessarily have to pay premiums lifetime, most people choose a 7-pay or 10-pay scheme, meaning you will pay all the required premium in 7 or 10-years and then you are done, with guaranteed death benefit.
If you think this sounds like an investment, it is, with tax-free benefits. Check out our GUL calculator to see the kind of return it generates.
A. Term Life insurance is known for its affordability, the longest Term life you can apply for covers 30 years time period.
If you want even longer life insurance coverage, you need to consider Permanent life insurance products which there are a variety of products fitting different families' needs.
The most affordable one is probably Guaranteed Universal Life (GUL), it's like a "permanent" term life product with little to no cash value build up overtime.
You will have lifetime coverage, but you don't necessarily have to pay premiums lifetime, most people choose a 7-pay or 10-pay scheme, meaning you will pay all the required premium in 7 or 10-years and then you are done, with guaranteed death benefit.
If you think this sounds like an investment, it is, with tax-free benefits. Check out our GUL calculator to see the kind of return it generates.
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