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Old 10-28-2007, 01:13 PM
Yahoood Yahoood is offline
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Default Term Life Insurance?

If I purchase a 10 year 'term" life ins policy in 2007 and get married in 2011, what will be my options ,if any at that time?


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Old 10-28-2007, 01:15 PM
Actuary Actuary is offline
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so easy, you can switch to joint life insurance
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Old 10-28-2007, 03:10 PM
Hadley Hadley is offline
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Default Re: Term Life Insurance?

You will have several options in 2011 when you are married, including:

1. Buy life insurance protection on your spouse.

2. Increase your term life insurance coverage.

3. Convert your term life coverage to permanent life insurance.

4. Buy more term life insurance protection for a 30 year level term.

5. Considering a joint life insurance policy with your spouse.

6. Ask your life insurance company to add on your spouse to your life insurance policy with a spouse life insurance rider.

7. Cancel your life insurance policy and take out 30 years term life insurance for you and your spouse.

These are just some of your options.

Make sure to get accepted for a new life insurance policy before you cancel any existing life insurance policy.

Also, compare term life insurance quotes from several insurance companies, because rates may vary by up to 50% or more between insurers for term life insurance.

I hope that helps! Best of luck to you.
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