Are you looking for the cheapest life insurance in Alabama? If you are, thank you for stopping by. TermLife2Go is an independent agency. Our #1 priority is getting our clients approved at the best available rates.
We also focus on speed and efficiency because we know our clients are busy people. We have helped countless people in the Heart of Dixie get life insurance fast.
We understand the importance of life insurance and realize that “the process” is what typically prohibits people from purchasing the life insurance they want. For this reason, TermLife2Go specializes in policies that do not require medical exams and generally provide approvals within 24 hours, which is why getting affordable life insurance in Alabama has never been easier.
Alabamians have other things to worry about than providing for a loved one if you die. You might be an engineer, a truck driver, or captain of a vessel. Your hobbies might include fishing, horseback riding, or piloting an aircraft. Whatever lifestyle or career you have, you need to make sure you are getting the best policy that fits your unique lifestyle. TermLife2Go can help guide you to the lowest priced life insurance available in Alabama. Then you can get on with life having the peace of mind that your loved ones are provided for.
All too often clients state that they recognize the value of life insurance but that they will not be passing away until much later in life. However, the Yellowhammer state is home to many natural disasters in the form of tropical storms, winter storms, hurricanes and severe weather incidents. Our last day on earth is anyone’s guess but buying affordable life insurance in Alabama now is how you can secure your family’s future today.
Now, if you already have an idea of what you are looking for or you just want to compare quotes, simply click here and we’ll have your quote ready for you in a matter of seconds. However, if you have a few more questions about getting cheap life insurance in Alabama, please keep reading or give TermLife2Go a call.
How does term life insurance in Alabama work?
Term life insurance is a form of life insurance where the insured takes out a life insurance policy for a term of years. The insured is protected, (or his/her family is protected), for the term of years. Once the policy expires the life insurance can be renewed or it will terminate.
Most, if not all, term life insurance policies allow the insured the option to convert the term life insurance into a permanent policy. This means the insured can convert the term life insurance into a permanent policy and keep the life insurance for the rest of their life.
Another benefit to term life insurance is that upon expiration the policy can be renewed annually. That means the life insurance can be renewed every year for a small to large increase in the premium, depending on who the life insurance company is.
Reasons to get life insurance in Alabama
The reasons for life insurance are many. The #1 reason that people buy life insurance in Alabama is to replace income. If someone you love will suffer financially when you die, then you need life insurance.
Some additional reasons people purchase life insurance in Alabama:
- Covering the mortgage on your home
- Future college tuition for your kids
- Paying off existing debt
- Funeral costs
- Charitable donations
- Key man business insurance
3 questions to ask before buying life insurance in Alabama
So you know you need cheap life insurance in Alabama but you are not sure where to begin. Ask yourself three questions:
- What type of policy do I need?
- How much coverage do I need?
- How long of a term do I need?
Types of Life insurance in Alabama
There are two main types of life insurance: term and whole life insurance.
A top question we get from clients in Alabama – How does term life insurance work?
Term life insurance is designed to so that the premium is fixed for a period of time. The most affordable life insurance policy is term life insurance. For example, a $500,000 20 year term policy for a 41 year old male runs $390 annually. That is a serious bang for your buck. You buy the life insurance for a term of between 10-30 years depending on several factors such as years to retirement, years until your kids are out of the house or years until your mortgage is paid off. Term is a great way to get a lot of life insurance for a low price but it does end. Once the term ends you can renew annually but at an increased premium.
A top question we get from clients in Alabama – How does whole life insurance work?
Whole life insurance lasts your whole life and builds cash value. These policies provide lifetime coverage. They are more expensive so you might not be able to purchase as much life insurance as you need with whole life. For example, the same 41 year old male would pay almost $2,700 annually for a $500,000 guaranteed universal life policy.
Which type of life insurance is best in Alabama?
That is a tough question. It comes down to need and ability to pay. Sometimes term life insurance just makes good financial sense. For more on the various types of life insurance please click on our article, the 8 most common types of life insurance.
Fully underwritten and no medical exam
There are also two main ways to get life insurance. You can take an exam to qualify for a fully underwritten life insurance policy or go the non-medical exam route. Which one you decide to go with depends on several factors such as:
- Time — a no medical exam policy will save a lot of time
- Money — a fully underwritten exam might save you money
If you have never been diagnosed with high blood pressure or high cholesterol but it is a concern, consider an affordable no medical exam life insurance policy in Alabama. Many times the cost between the two policies will be small and a non medical exam policy does not require a blood draw. High cholesterol and blood pressure are the most common reasons a policy comes back with a higher premium. If you are concerned about your blood work then paying a few additional dollars might very well save you money once your lab results come back. And a non medical exam policy approval is fast with some approvals in 15 minutes.
Not sure what policy is best for you? Call TermLife2Go today and speak to an independent agent who has your best interests in mind.
Alabama Life Insurance Coverage Amount
How much life insurance you need depends on a few key factors. Most financial planners say that as a general rule of thumb, seven to ten times your annual income is a good starting point.
However, everyone’s situation is different. You might be just starting a family or be looking towards retirement. Due to the unique nature of your specific situation it is always good to seek out advice from a trusted source.
Speaking to a licensed professional today can save you time and help ensure that you are getting the right amount of coverage. Our team of professional agents at TermLife2Go are focused on providing you with the best advice available. Give us a call today.
For more reading please see how much life insurance do I need?
What Life Insurance Term Length Should I choose in Alabama?
If you decide to go the term life insurance route, how long of a term do you need? Determining the term length that is right for you depends on several factors. One thing to consider is the age of your youngest child. How long until your child is financially independent? Tailoring a term life insurance policy to your youngest child is a great place to start.
Other factors to consider are:
- Your age
- Your spouse’s age
- How long of a mortgage do you have
- Terms on a business loan
Please see how long of a term do I need?
How much does Alabama life insurance cost?
TermLife2Go works with all the top companies so we can shop around for you and make sure we are offering the best company at the best price.
Your life insurance premium depends on certain variables. The main variables are:
- Your age
- Your gender
- Your health
- Your lab results
- Your lifestyle
- Tobacco use
There are other factors to consider in Alabama when considering life insurance as well. Many life insurance companies have a unique niche that might be specifically tailored to your health or lifestyle.
See our article titled, Does your agent think like a pharmacist?
Also, you can see our analysis on various pre-existing conditions here.
Take the next step to buying the cheapest life insurance in Alabama
If you have more questions please see our FAQ section or visit our blog. If you are ready to compare affordable life insurance quotes in Alabama just give us a call or simply click on the link below for a free life insurance quote to see just what we can do for you.