*Should You Get 30-Year Term Life Insurance is a sponsored post

We’re taking a look at the pros and cons of 30-year term life insurance plans to help you decide on the best term life insurance rate for you.

Are you searching for a life insurance plan? If you are, you’ve probably already encountered the many different options you can choose from when trying to secure the right term life insurance rate for you. One of the longest-lasting—and most popular—types of term life insurance to choose from is a 30-year term. A 30-year term is ideal for many as it provides coverage for at least the amount of time it takes to raise kids or pay off a mortgage, for example.

That’s why today we’re taking a closer look at how 30-year term life insurance plans work, weighing the pros and cons, and assessing who is an ideal candidate for a 30-year term life insurance! So before you get a term life insurance quote, be sure to read through each section of this article! Let’s get started!

What is Term Life Insurance?

Before we can determine the best term life insurance rate for you, we need to define term life insurance

Finding the right insurance plan takes research.

Life insurance is broken down into two vast categories—term life insurance and whole life insurance. Term life insurance refers to plans that cover you for a designated amount of time. These plans can come in any duration but are usually limited to 10, 15, 20, 25, or 30-year plans. When you choose one of these plans, your family members are covered in the case of your untimely death in that period of time.

There is also the other type of life insurance which is called whole or permanent life insurance. Unlike term life insurance, these plans never expire and will cover you for the rest of your life. 

Other than the obvious differences in duration, there are a few other differences between term life and whole life insurance. For example, a whole life insurance plan also accrues a cash value over time. This cash value is available to you during your lifetime and can be used to pay medical bills or other large expenses—including your monthly premiums.

With term life insurance, there is no cash value for your policy, which means that your policy only pays out after your passing. For many people, term life insurance is enough to provide peace of mind for themselves and their loved ones. Though the cash payout sounds like a great perk, more people will choose a lower monthly term life insurance rate over the promise of a future cash payout. But, before we get ahead of ourselves, let’s take a closer look at how exactly term life insurance works!

How Does Term Life Insurance Work?

Find out how you can get the best term life insurance rate for yourself and your loved ones

Term life insurance protects your loved ones for a finite amount of time.

When you are on the market for a term life insurance plan, one of the first things you need to do is decide on the length of the term. Though we are talking specifically about the 30-year term in this article, we should take a moment to discuss how different terms will affect your monthly premium. With that said, let’s discover how term life insurance works in a broad sense. Ultimately your decision will depend on a variety of important factors, like your family’s needs, your finances, and your health. The length you choose will also affect your monthly term life insurance rate, which is a big deciding factor for many. 

Once you’ve determined how long you want your life insurance plan to last, the next step is to fill out an application. When you begin to fill out your application, you’ll encounter a lot of different health-related questions. For most insurance plans, you will have to undergo a physical and have you forward all relevant health information so they can get a holistic picture of your health. You might be wondering—“Why does the insurance company need so much information about me to give me a term life insurance rate?” The answer is that your health status, occupation, lifestyle, and habits affect your life expectancy, meaning they will affect your monthly premium. Unfortunately, if you have many health problems you will end up paying a higher premium or may be rejected outright by certain life insurance providers. While there are providers that will offer insurance plans to individuals without a medical exam, these providers will charge far higher premiums than providers that require an exam. 

Once your application is approved by the insurance company, all you have to do is agree to the monthly premium and sign the documents to secure your term life insurance rate. After that, you’re insured!

It is important to mention that if you neglect to pay your monthly payments, your provider may suspend coverage. So, it is extra important to pay your premium on time to make sure that you pay your policy on time to maintain coverage for your loved ones.

What Do I Do When My Term Life Insurance Plan Expires?

Find out what your coverage options are after your term life insurance policy expires

Many people don’t know what happens after their term life insurance policy expires.

When weighing whole life insurance against term life insurance, many people wonder what happens after their policy expires. After your term life insurance policy expires, you have a few options:

1. Renew Your Term Life Insurance Policy
2. Convert Your Term Life Insurance into Whole Life Insurance
3. Take No Action

Deciding which path to take will depend on your finances and your family. First, if you choose to renew or convert your life insurance policy, you won’t have to undergo a medical exam. However, your age will be taken into consideration when calculating a whole or term life insurance rate. That means the older you are when you choose to renew or convert your policy, the more you will pay for your monthly premium.

Since renewing or converting your insurance policy will inevitably raise the cost of your monthly premium, it is recommended that you choose a period where you feel like you won’t have to take any further action. We recommend securing the lowest rate possible while you’re young and choosing a term that you feel will cover your loved ones for as long as possible.

What is a 30-Year Term Life Insurance Policy and Is it the Right Choice for You?

Keep reading to find out how you can secure a low 30-year term life insurance rate

The earlier you secure a 30-year term life insurance plan, the lower your monthly premium.

We’ve already discussed how term life insurance provides coverage only for a certain amount of time. Since it is often difficult to determine which term is right for you, we’re going to be exploring the benefits and drawbacks of a 30-year term life insurance policy.

A 30-year term life insurance policy is exactly that, a life insurance policy that lasts for 30 years. As you explore different types of policies, you’ll find that 30 years is often the longest that insurance companies will offer. In some cases, you may be able to find 40-year term life insurance policies, but these are rare. So, that leaves 30-year policies as the longest, commonly found policy type. But, what does that mean for you?

30-year life insurance policies will cover you for 30 years from when you sign your policy and will provide a payout to your beneficiaries in the event of your passing. A 30-year policy is often the closest someone can get to whole life insurance without paying the high monthly premiums associated with whole life insurance. If you secure a 30-year life insurance policy when you’re healthy and in your 30s or 40s, this plan may provide you coverage for the rest of your life.

When your 30-year term life insurance policy expires, there is the option to renew or convert your insurance. However, when you convert or renew your life insurance plan, you’ll be 30 years older, meaning that your monthly premium will increase significantly.

What are the Pros of a 30-year Term Life Insurance Policy?

If you’re considering locking in a low 30-year term life insurance rate, the best time to do it is while you’re young & healthy

A 30-year term life insurance policy is ideal for family planning.

The greatest advantage of choosing a 30-year term life insurance policy is the length of coverage. 30 years is a long time! When you choose a 30-year plan, you won’t have to worry about burdening your loved ones with your debt or end-of-life expenses in the event of your death. If you have outstanding mortgage payments, college debt, or any other outstanding debts, you must secure life insurance—otherwise, your loved ones will be stuck with the bill after your passing. Luckily, when you secure a 30-year term life insurance rate, you won’t have to fret about the possibility of your loved ones taking on your outstanding debts. 

Another great “pro” for a 30-year term life insurance plan is that it is a far cheaper alternative to a whole life insurance plan. Whole life insurance costs, on average, much more per month than any term life insurance plan. Since your coverage doesn’t expire with a whole life insurance policy, the insurance company requires you to pay more to justify a guaranteed payout.

However, it should be mentioned that while a 30-year policy will be less expensive than a whole life policy, it will be more expensive than the shorter alternatives. But, if you remember what we discussed before—a 20-year policy may be a lower cost, but you’re more likely to outlive the policy and need to renew or convert at a higher price later on. So, just because a 30-year term life insurance rate is initially more than a 10 or 20-year policy, it does not mean you will be saving money with a shorter plan. In most cases, choosing a shorter plan—especially when you’re young and healthy—will end up costing you more in the long run.

Are You a Good Candidate for a 30-Year Term Policy?

30-year policies are a great option for many individuals, but a term life insurance rate is not for everyone

Outstanding college debt? You should consider a term life insurance policy.

A 30-year term life insurance policy is a great opportunity for young and healthy individuals to cover their loved ones in the event of their passing. However, there are some circumstances where a 30-year policy is not always the best option. That’s why we’ve come up with a few life scenarios where a 30-year plan is ideal. Let’s take a look!

1. You Are Starting a Family

Starting a family is a major life decision! When you begin family planning, you should also begin searching for the right life insurance policy for your family so that all members of your family are covered for the foreseeable future. Life insurance is most important when you are in the beginning stages of raising children because of the costs and labor associated with starting a family. For example, in the event of your passing, your partner will need to provide for the family and continue to raise your children. Without an insurance policy payout, raising children becomes nearly impossible without outside help.

If you are starting a family, you need to factor several different costs into your policy before deciding on your total coverage amount. For example, you will need to cover your current income for a set amount of time—usually 10 years. You’ll also need to think about childcare costs, higher education, and other expenses associated with raising children until the age of 18. The considerations you make for your children during family planning can affect the rest of their lives, so it is important to choose the best policy to provide ample coverage.

2. You Have Outstanding Debts

Another reason to secure a 30-year term life insurance policy is if you currently have outstanding debts. As we briefly discussed in a previous section, if you have outstanding debts like a mortgage or college loans, you must secure a term life insurance rate while you’re young. Should you pass away before your debts are fully paid—and you haven’t purchased a life insurance plan—your family members will be required to pay your outstanding debts. Not only that, but your family members will also have to cover the full cost of all end-of-life expenses including things like funeral costs. These costs can be overwhelming without life insurance. That’s why it is a great idea to purchase a 30-year term life insurance policy for long-term peace of mind.

3. You Want a Plan in Place for After You’re Gone

It isn’t a fun subject to think about—especially when you’re young—but it is important to plan for after your death. This is especially true if you meet either of the two criteria listed above. Purchasing a 30-year term life insurance plan is important to secure the future of your family members, children, and spouse. While you may not have a spouse or children at the moment, you should still establish a plan. By securing a low 30-year life insurance rate while you’re young, you can cover the costs of college for your future children, cover your debts, and plan to leave behind an inheritance for your family. Though this is all quite heavy for most people in their 20s, 30s, and even 40s, you must have plans for whatever the future might bring.

How Much Will My 30-Year Term Life Insurance Policy Cost?

Often monthly term life insurance rates are more affordable than you think

If you’re stumped trying to find the best policy, you can always contact a financial advisor for help.

Your term life insurance rate will differ due to several factors—that’s why we’re breaking down all of the different considerations the insurance company will make when determining your monthly premium. 

An insurance company will review your physical exam, the questions you answered as a part of your application, your age, and the level of coverage you desire. After taking these factors into account, the insurance company will either accept or reject your application. If your application is accepted, the insurance company will then offer you a monthly term life insurance rate.

For a 30-year, $500,000 term life policy, men in their 30s can expect to pay anywhere from $40 to $50 per month for a policy. This is, of course, if you are deemed healthy and are a non-smoker. Smokers will end up paying a higher monthly premium because of the inherent health risks that come with smoking.

For a 30-year $500,000 term life policy, women in their 30s will pay anywhere from $30 to $45 as a monthly premium. Since women tend to live longer than men, they also pay less per month.

Now that we’ve explored the pros, cons, and costs associated with purchasing a 30-year term life insurance policy, it’s up to you to decide if a 30-year policy is right for you. If you need additional assistance making a decision, you can always contact a financial advisor for extra help. Remember, there is never a bad time to consider your family’s financial future! 

Also see What Are the Main Factors That Affect Life Insurance Rates?

*This is a sponsored post. I sincerely hope that this life insurance post has been a benefit to you.

*What Are the Main Factors That Affect Life Insurance Rates? is a sponsored post.

When you get your first life insurance quote, you’ll likely have a few questions about how contributing factors determine your monthly premium.

Many individuals living in the U.S. do not have life insurance. For a majority of these individuals, it seems that the cost of life insurance is too high to manage along with other expenses. However, for many people, life insurance is actually a lot cheaper than they may have thought. So, before you go searching for the best life insurance quotes, you should do some research to estimate how much you’ll be paying for a life insurance policy based on your age, gender, health, lifestyle, and occupation. Today, we’re going to find out about the different variables that will affect your monthly premium.

1. Your Age

The sooner you secure a life insurance quote, the more options you’ll have and the less you’ll have to pay per month.

Your age is arguably the most important factor insurance companies consider.

Many people in their 20s and 30s who have considered life insurance often say that they haven’t purchased a policy because it is too expensive. In reality, your 20s and 30s are the best time to secure a life insurance quote. In general, the longer you wait to purchase a life insurance policy, the more you will end up paying. Very often rates for younger people can be as low as $25-$30 per month for a term life insurance policy.

2. Your Gender

Due to a life expectancy gap in men and women, women will often be offered lower cost life insurance quotes.

In the U.S., the life expectancy for women is longer than it is for men — about 5 years longer. Insurance companies notice this, and since the death benefits payout for men is likely to happen sooner, men will end up paying higher monthly rates for life insurance. There is one U.S. state, Montana, that only offers gender neutral life insurance, meaning that both genders will pay the same in Montana.

3. Your Health Status and History

Health status is one of the most important determining factors for life insurance quotes.

Health insurance is far cheaper when you are in good health.
When an insurance provider is determining life insurance quotes, health status is the most important factor considered. For those who are not healthy or suffer from chronic illness, the cost of term life insurance will be higher because of the likelihood of a death benefit payout before the term has expired.
For most life insurance providers, you will have to undergo a physical and forward your medical records to their office. When they receive the results of your physical and medical records they will consider:

• Your medical history, including past surgeries and treatments
• Your height and weight, often including your BMI
• Any behaviors that are deemed high risk like drinking, smoking, or drug use
• Your family’s medical history, focusing on any hereditary conditions

There is also an option to get life insurance without an exam. However as a general rule, your life insurance quote will be more expensive the less your insurance provider knows about you. Examples of this are instant life insurance, simplified issue life insurance, and guaranteed issue life insurance. All of these options tend to be more expensive than term life insurance, but can be preferable depending on your lifestyle and life insurance need.

4. Your Lifestyle

For most life insurance quotes, you will have to fill out a few questions about your lifestyle that will affect the overall cost.

A dangerous job will increase your monthly life insurance rate.
In addition to pulling your medical information, insurance providers often ask about certain aspects of your lifestyle before you get your life insurance quote. A few of the questions you should expect when getting your life insurance policy are:

• Your driving record – Insurance companies will be looking for any kind of reckless driving, history of DUI, other violations
• Your criminal record – If you have been convicted of a felony there will be a 10 year waiting period and after a DUI there is a 5 year waiting period before you can qualify for a life insurance policy.
• Any potentially dangerous activities – If you have a dangerous job or dangerous hobbies, for example mining or skydiving, it will affect your insurance policy.
• Other financial factors – History of bankruptcy can cause your coverage to decline

Once your medical history and lifestyle are examined by the insurance company, they will present you with your life insurance quote.

There are, of course, ways that you can change your lifestyle to secure a lower rate. For example, if you quit smoking or left a dangerous job, you can contact your insurance provider to undergo a secondary physical and get a new quote. It is important to remember that the lowest cost insurance quotes are generally given to younger people. So, the best time to secure a low cost monthly premium is as soon as possible.

Disclosure: This is a sponsored post. I sincerely hope this post helped you sort out some facts about life insurance.

*This is a sponsored post. All opinions are mine.

 

Using coupons has become a way of life for me. I’ve been using paper coupons since before I got married, and I’ve been married for 35 years.

 

The way we shop has changed over the years. So the way we use coupons had to change, too. So much shopping is done online now. It can be hard, sometimes, to find coupons to use while shopping online.

 

 

Thanks to Groupon it’s easy find great coupons to use while shopping online!

 

Here are a couple of examples of online stores that are currently offering Groupon coupons:

 

 

Coldwater Creek features women’s clothing and accessories, as well as items for the home and gifts.

 

 

 

Shoes for Crews has slip-resistant footwear in many different styles for men and women. From athletic to clogs to work boots to dress shoes.

 

 

The Groupon website is easy to use, with a great search feature. After checking out the website, I’m sad to say that I have never used a Groupon before. I will definitely be checking for Groupons from now on!

 

Groupon is not just for shopping! You can find Groupons for events, restaurants, and experiences. Whatever you are planning on doing or the places you are going, check Groupon first. Whether you shop in person in the store, or shop online, there just might be a Groupon for that!

 

 

*Disclosure: *This is a sponsored post. All opinions are mine.

*This post contains affiliate links

 

This is so great that I wanted to make sure you knew about it! This week, Christianbook.com is having the Spring Cyber Week Sale now thru June 1st!

 

 

 

 

You won’t want to miss this awesome sale. Check out some of the discounts being offered!

 

 
Bibles up to 92% off

Books up to 98% off

Fiction up to 96% off

Christian Living up to 97% off

Personal Growth up to 95% off

Devotionals up to 94% off

Kids’ Deals up to 92% off

30% off Melissa & Doug

Kids’ Bibles up to 78% off

Arts & Crafts up to 73% off

Toys under $10

DVDs up to 98% off

Movies up to 85% off

TV Series up to 82% off

Family Movies up to 88% off

Movies for Kids up to 88% off

Music up to 93% off

Homeschool Deals up to 30% off

Gifts up to 93% off

 

And speaking of gifts! Don’t forget to get Dad a Father’s Day gift. Gifts for Dad are on sale, too!

 

 

 

*Disclosure: This post contains affiliate links. If you click a link and make a purchase, I will receive a commission.

 

My kids can go through so many bars of soap. Is it just my house? (Please tell me it’s not!)  They are not whittling soap bath toys. (at least I don’t think so!) The soap just seems to “melt” and be used up so quickly. Have you ever been using a bar of soap, and it gets so soft and squishy, it seems like a lot of the soap is coming off the bar? That’s what I mean by melt.

 

 

How to Make Soap Last Longer

 

I usually buy a big 12 pack of soap at a time. We are going to use it, and it’s cheaper per bar. When I bring it home, I open the pack, and rip the paper off both ends of all the bars of soap.

 

I know, you’re thinking, “What?”. There is science behind this, though. By removing the paper from the ends, you can remove the whole wrapper if you prefer, the water in the soap evaporates. When the water in the soap evaporates, it makes the bar harder.

 

 

When the bar of soap is harder, it doesn’t “melt” as fast in use. Now, if the bar of soap gets left in a puddle of water, it will melt, regardless of whether you use this tip or not.

 

In as little as a week of the soap sitting with the paper removed you will be able to notice difference. The longer the soap sits, the harder it will be.

 

I have used this soap tip for many years, and it really does work.