Best Term Life Insurance: The Southern Gay Gentlemen’s Guide
The best term life insurance policy is a policy, which has a definite timeline in a legal agreement to insure someone’s life from all harms including death. During the stipulated time that the person is protected, the family or loved ones can get the full face value insured in case of death of the person under the coverage. This insurance policy is purely for protection from the uncertainties of life, especially to the people with alternative lifestyles and minorities.
Regarding premium costs, this form of insurance has the most affordable rates in comparison to the other insurance coverages. This means that it is suitable for people, especially the minorities in society, who in return have relatively high rates of death. This insurance plan thus is the most critical plan for a person who does not want or is not in a financial position to commit to a whole life insurance plan.
Other reasons why this way is advantageous over other plans to include the flexibility to opt out of the plan without any legal obligation after not paying premiums and the fact that one may be able to convert the term life insurance policy into a permanent policy as time goes on.
LGBT Community And Life Insurance
The United Nations Charter for Human Rights prohibits any form of discrimination when applying for term life insurance. The question on sexual orientation should not be a determinant in the process of determining the cost of the premium and overall policy face value. The statistics suggest that the LGBT community constitutes a more significant percentage of an uninsured individual compared to the non-LGBT community, even though the need may be greater.
These gloomy statistics are sad and governments in other parts of the world have rolled out campaigns to change this. It is a result of the contribution by many factors ranging from perceptions of insurance by the LGBT community to instances of continued discrimination by a section of the Southern community (to include corporations) that has led to the dwindling numbers of LGBT community members being properly insured.
What Is The Best Term Life Insurance Company?
The following companies have the best term life insurance depending on their financial muscles, customized policies, as well as being inclusive of all races and people from all sexual orientations.
American National Insurance Company is a group of insurance companies in the United States with head offices in Galveston Texas. The company is financially sound and able to settle insurance claims thanks to its over 100 years of stability. This means that in case of any claim within the stipulated period, you can expect little to no delays experienced regarding settling insurer claims.
American National offers one of the most competitive rates in the insurance market among the insurance companies providing this type of insurance policy. It is also worth noting that American National has convertible term life insurance policies if wanted a change of preference and opting to go for a lifetime plan. This is important in cases where the policyholder wants to change the policy without necessarily going through another medical test.
The term life policy offered by American National is time conscious. It provides terms depending on the timeframe the person intends to be insured. The terms include 10, 15, 20 or even 30 years of coverage. This means that what is important today may not be significant tomorrow and an affordable term life insurance policy allows for these changes to be made rather simply. What a person values at his/her 30s may be entirely different when they turn 50 and therefore the importance of having a plan that is time-definite is not only economically essential but also gives one freedom to opt out in case of change of mind.
American National offers its clients with living benefits without extra addition to the premium cost. The payouts are subject to the possibility of life expectancy being less than one year. In this case, the insured will receive a certain percentage of the amount insured in the form of living benefit.
Independent life insurance agents sell most of the company’s insurance policy, giving you the main advantage of buying a term life insurance policy and an in-depth explanation of the plan at the same time.
The American General Insurance Company is in more than 130 countries in the world with millions of customers. The company is famous in the United States due to its current policies, customized to fit different customers’ needs. Term life insurance is part of the large company’s collection of policies. The company offers one of the best policies for all gender identities, males, and females without discriminating based on sexual orientation.
The plan is open to people aged up to 80 years and therefore suitable for people in their prime. The time plans by AIG term life insurance depends on the customer’s preference and this ranges from one customer to another. These periods are not subject to the traditional 10-15-20-30 formats. The company and the customer who is the insured can come up with customized time.
The company offers different riders to the customers depending on circumstances. This is the human face in this policy. In case of a terminal illness, the company pays the 50% of the coverage value within 12 months to the customer. In case of death by accident, the company offers an accidental death rider benefit where the beneficiary who is the partner of the insured or the insured’s children gets the double the amount insured with the plan.
Phoenix Life Insurance Company is one of the oldest insurance company offering life insurance. It has good ratings by firms that grade financial stability such as A.M Best. The design of this policy is to cover the family in the eventuality of unknown. The definition of a family, in this case, can mean both straight and gay people in a union with or without children. The policy covers both short and long-term expenses in case of death of the insured.
The plan, unlike other typical term life insurance covers, has a broader scope. One of the leading riders is the unemployment waiver. In case the insured loses a job, the remaining premiums paid on their behalf. This is a critical aspect putting into consideration how uncertain the US job market is. The family is still insured in this scenario if there is a job loss.
Other factors in this plan include a medical rider for where medical bills are cleared by the insurance company as well as the security from debts, either long-term and short-term but within the stipulated in insurance coverage. The company also covers the eventuality of death and the impact of the insured’s death on the life of his family.
The company has a precise way in which the family can claim compensation and payment of the policy in an expedited timeframe. The amount of the policy on the insured is promptly provided upon certifying the death. Also, in comparison with typical insurance coverage, Phoenix has a quick underwriting procedure which makes the application process quicker in most
It is worth noting that Phoenix term life insurance applies to citizens aged 18 years to 80 years with terms spans of 10-20-30.
This is an insurance policy by Sagicor Life Insurance Company. The company name is a combination of two names, Sage and Cor, loosely translated to “wisdom from Heart.” The company offers a wide range of insurance policies and their term life insurance is best suited for professional workers who have started investing in the form of cars and buying houses.
Term life insurance secures mortgages, car loans, education programs for the family through a defined period. Sagicor is one of the few insurance companies with fully online interaction with an excellent user interface and no medical exams are required. This gives it an upper hand regarding accessibility and conveniences.
Sagicor’s term life insurance has affordable premiums and therefore is more suitable for everyday working-class family. In case the insured is diagnosed with a terminal illness, the policy has an option of the accessing 50% of the sum insured also known as a death benefit to help pay for for the medical expense. (Sagicor has some of the best living benefits on the market.) In another scenario, if the insured gets an accident and survives but now is disabled, the insured will have access to 50% of the sum insured and all the premiums remaining paid by the insurance company.
Sagicor Life Insurance Company has a stable financial background which helps the claims to be paid out faster. This has made the company receive better ratings in different international markets for consumers.
Sagicor’s term insurance is an all-inclusive policy and does not discriminate members on the basis of sexuality or religion. When calculating the premium cost, issues like your choice of who to love is not considered and it’s a non-issue. This Sagicor term life insurance is, therefore, one of the best term life insurance policies on the market.
Foresters Financial is a life insurance company operating in United States, Canada, and the UK. The primary customers of this group are largely blue-collar workers and this correct classification of market niche enables the company to maximize the delivery of quality insurance covers. This firm offers term life insurance cover for relatively low premiums in comparison to most of the insurance companies.
Life is a mixture of events, some great and others are disheartening. Thier term life insurance policy enables the family to have healthy lives after the loss of the loved one. Everybody wants surety that growth will continue to be standard even after departure. This insurance coverage secures the family security by covering long terms loans such as mortgages and education plans for the children if any.
The Foresters term life insurance is not discriminating based on religion or sexual orientation. Those eligible for the coverage are people aged 18 to 65 years and the insured can change the nature of the cover from term life to whole life insurance without a new medical examination. The flexibility of this coverage is crucial for any worker who wants to self-determine their life insurance without unnecessary restrictions. This coverage also comes with riders, which are optional and not openly free like in other companies; however, they may be worth it.
Foresters is like other insurance companies providing living benefits for its customers. In case of an accident and the insurer survives, the burden of contributing premiums shifts and the company does that for them. In another scenario of the customer being diagnosed with a terminal illness, the same happens. The 50% of face value is paid to the insurer as part of the standard accelerated benefit. This policy shifts the cost of medical burdens from the loved ones to the company.
Choosing The Best Term Life Insurance
Buying the best term life insurance is a way to ensure that you are safe from all life’s uncertainties. However, for one to choose an insurance company that best suits themselves, they should consider the following:
- The reasons for purchasing term life insurance coverage
The reasons for purchasing the coverage can change the perception one views insurance. The more the elaborate the plan is, the more comfortable it may be to purchase the policy and the amount of the premiums.
- Research the insurance company’s financial capabilities
Basic research on the insurance company’s financial position is helpful to determine whether the company can pay promptly and how long they can afford to operate.
- The premium payment period and the amount of paid premium
The higher the payments in a single premium means that the total sum assured will be more prominent in case the insured passes away and the more significant the amount the loved ones will receive.
- Presence of riders
The nature of riders should influence the choice of policy. An additional rider without additional cost means that the deal is worth paying for.
Life is supposed to be happy but we cannot control when and where bad things should happen. The working class is exposed to dangers on a daily basis and purchasing insurance coverage is essential to the family and loved ones and more importantly, the insured. The above insurance cover is affordable to most members of the working class and the premium rates are flexible in comparison to the other policies you see advertised elsewhere.