Reader question:
What is a temporary Houston TX term life insurance plan?
Mario
Great question.
A temporary Houston TX term life insurance plan, usually called an annually renewable policy, is expensive, annoying, and hard to deal with–but sometimes necessary. I’ll give you some of the bare details: with a renewable plan, you will be given health insurance coverage for each year. At the end of the year, you can either allow it to expire, or you can renew it with the same kind of coverage. Problem is, when you renew it, you are rated all over again. So if you have an annually renewable plan for your entire life, then you’re going to get one price as a healthy 20 something, and a whole ‘nother (bigger) price as a middle aged person.
There are very few reasons to purchase a temporary Houston TX term life insurance policy. If you’ve just quit smoking and don’t want to lock in the high rates you will get after only a couple of years without smoking, then you might get a temporary plan and get a real one once you’re able to get better rates. Same would go for if you have just gone into remission for cancer, or something like that.
One good reason NOT to get a Houston TX term life insurance plan? You just don’t want to commit. Or you’re doing it at the last minute. Thirty years seems to long. Et cetera. Instead of coming up with excuses, you can find a regular life insurance plan easily–by getting quotes and comparing them until you find a price and a policy you like.
take care,
Fashun