VetUSA Term Life Insurance

Life Insurance Q&A

Do I really need life insurance?

If you're like most people, you need life insurance. Should you die prematurely, the coverage provides your loved ones with money to keep life going smoothly. Life insurance money can make an important difference for your family. It can pay for ongoing expenses, such as housing, food and car payments. It can also cover large expenses, such as paying off a home or college tuition for your children.

What kind of life insurance is right for me?

The number one choice in life insurance is term life. It's affordable and practical because you only buy insurance for time period that you need it. Many parents buy term life insurance until their children graduate from college. For as little as a few cents per day, you can get hundreds of thousands of dollars in coverage. You choose the policy length, and the payoff amount, which can exceed $1 million! Another benefit is that your premium stays the same, even as you get older or if your health declines.

How much coverage do I need?

Most people base coverage on current income and expenses. To calculate the amount, try multiplying your income by the number of years you would like your family to have that income, and then add other debts and expenses. You might consider providing financial support until your children graduate from college or you pay off your mortgage on the family home.

Am I the only one who needs coverage?

It's smart to get life insurance for a spouse or life partner, even if he or she is not employed. Chances are this person contributes to the household in ways that could have a financial impact if they passed away. For example, would a premature death mean unexpected childcare expenses?

What term length makes sense?

In general, people choose longer terms to protect loved ones through income-earning years or while raising a family. This is when an unexpected death could create a devastating financial hardship. People typically choose shorter terms to add to their retirement support, pay off mortgages and debts, or to cover funeral expenses.

When should I get life insurance?

Waiting to purchase term life insurance is risky. An unexpected death is exactly that – unexpected. Are your loved ones protected? Also, rates go up as we age, and your health situation could change. These realities could make it more expensive and difficult to get coverage. Term life insurance rates are still one of the best insurance buys around. But like anything, they are subject to rate hikes. Don't wait and put your loved ones at risk, or find yourself paying more than you need to.

Sign in to get your free quote today – it only takes 2 minutes to see how much you’ll save!

Matrix Direct, Inc. is a subsidiary of American General Life Insurance Company (AGL) and an affiliate of The United States Life Insurance Company in the City of New York (USL), NY, NY. Rates current as of 7/1/11. Preferred Plus Underwriting Class, Form #07007, issued by AGL, Houston, TX. Premium charges depend on evidence of insurability. Premiums increase at the end of the guaranteed term if renewed. Death benefit remains level. The policy may be contested for two years from date of issue for material misstatements or omissions on the application. Policy is limited to return of premium paid in the event of suicide within first two years. The underwriting risks, financial and contractual obligations and support functions associated with products issued by AGL and USL are the issuing insurer's responsibility. AGL does not solicit business in the state of NY. Policies and riders not available in all states. In NY State, term life insurance is available through USL, Form #07007N. Save up to 70% savings comparison based on monthly premium rates as of 7/1/11 for a 10 year level term policy for selected coverage amounts, issued at each company's best published rates for a female, age 30, non-smoker. Agency services provided by Matrix Direct Insurance Services in CA (#0B57619), ME, MA, and OK; Matrix Direct Insurance Agency, Inc. in UT; and Matrix Direct, Inc. in AR (#246412) and all other states, except SD. INSURANCE ADVERTISEMENT.