• mbrcatz17 2:03 pm on December 26, 2009

    There’s no "one size fits all" cheapest. You have to shop around.

  • great_and_mighty_adam_levine 2:03 pm on December 26, 2009

    It depends on your situation. In most cases, I would quote three sources:

    Source #1: Your home/auto insurer. These guys will probably cost more than the other two, but they might give you an auto/home insurance discount that makes up the difference. Some auto/home insurers do this, others don’t.

    Source #2: An independent insurance agent or website (like insure.com) that gets quotes from a bunch of life insurance companies. Be sure to be honest when answering the medical questions so that they can guess the right ‘tier’ of pricing.

    Source #3: Ameritas Direct. These guys are (to my knowledge) the only true no-commission life insurer out there. Some other insurance companies will sell you a policy direct, but they will still make you pay the same price as if you were represented by an agent. Ameritas Direct takes the commission off your premium. Their website is http://www.ameritasdirect.com/62.asp and their quote form is quick and doesn’t ask personal info.

    I can’t say which will be cheapest, but if you use those three, you will find a good deal.

  • Hadley 2:03 pm on December 26, 2009

    There are several types of term life insurance available including level term, decreasing term, annual renewable term and term life isnurance with no exams, and return of premium term life insurance.

    The most popular type purchased is Level term life insurance. Many young people and families with children choose level term life insurance because it may provide the most coverage at the lowest rates.

    Term life insurance lasts for a specific number of years, usually 10, 15, 20 or 30 years. The most common terms are 10 years or 20 years.

    Term life insurance policies pay the beneficiary the face amount of the life insurance policy if the insured person dies during the term of the policy. For example, a 15-year term life policy with a face amount of $250,000 would pay $250,000 to the beneficiary if the insured died any time during those 15 years.

    Usually, term life insurance costs less than permanent life insurance.

    At the end of the policy term, the insured is no longer insured, and a death benefit is no longer paid. Some term life insurance policies are renewable, or can be converted to permanent life insurance.

    Term Life Insurance Has Three Standard Features:

    Level
    Usually, the annual premium for the policy paid by the insured stays the same each year. The face amount of the policy also stays the same. Level term life insurance policies can usually last up to 30 years.

    Convertible
    Before the end of the term for the policy, the life insurance policy owner may be able to convert the term life insurance into a permanent life insurance policy. The owner usually has a specific number of years during the term life insurance policy to convert the policy. The premiums usually increase for the permanent life insurance.

    Renewable
    Term life insurance policies that are renewable offer the owner the option of renewing the life insurance policy at the end of the policy term, up to a specific age limit (usually age 65 or 70).

    For example, a 15 year policy may be renewed for another 15 years. If the policy is renewed, a medical exam may be required. The term life insurance premium will usually increase when the policy is renewed.

    To find the cheapest term life insurance policy You can compare free no obligation term life insurance quotes online at https://www.efinancial.com/smartquoteefc.aspx?source=389-707 You fill out one form and get up to 12 instant quotes from top-rated insurers.

    I hope that helps! Best of luck to you.

  • Bradley S 2:03 pm on December 26, 2009

    There are too many variables to say for sure. Why not contact an independent insurance broker? A broker works with several companies and find the best value based on your requirements. To find a broker in your area, log on to a website like http://www.lifeinsurancewiz.com/ and fill out a form requesting a free quote. Your information will be sent to a broker in your area who will contact you.