Basics of Short Term Life Insurance
Short term life insurance is usually issued through an employer and when the employee acquires their health insurance. Individuals can also purchase it when they are not sure what sort of life insurance they want. Another reason why someone may purchase short term life insurance is because they have changed jobs and they have a waiting period before their benefits kick in on the new job. This type of insurance is a great segue way between multiple types of transitions in life and it also ensures that you will never be without coverage.
Types of short term life insurance policies
There are two types of short term life insurance policies. They are:
- Plans that will cover death no matter the cause.
- Accidental death plans that only pay if the death is due to an accident.
The accidental death plan is usually the least expensive and tends to be the choice of younger individuals. The policies usually provide coverage between $50,000 and $250,000 and there is no medical exam that is required.
You can pay your short term life insurance policy on a monthly basis, every three months, every six months, or once per year. It is entirely up to you how you want to do it. And if you need the coverage for a longer period of time, then you can renew that policy year after year and not worry about a change in the premium.
How to get short term life insurance
If a short term life insurance policy sounds like exactly what you need, then you need to start by getting quotes. You can do this by using the tool here on our website. You simply input your information and you will be presented with multiple quotes so you can compare and find the right short term life insurance policy for you.