Term Life Insurance

MINNEAPOLIS, March 14 /PRNewswire-FirstCall/ -- ING has introduced ING Return of Premium Term life insurance. Issued by ReliaStar Life Insurance Company, ING Return of Premium Term offers individuals valuable death-benefit protection from term life insurance with the ability to get all of their premiums back at the end of the policy's term (excluding flat extras). "This type of term insurance appeals to people who are concerned about buying a product they think they may never need," said Jim Gelder, president of ING Life Distribution. "At the end of the level term period, they get back what they've paid for the policy. For many people, it is like buying a home versus renting an apartment." Like traditional term life insurance, return of premium term life insurance offers a fixed death benefit with a level policy premium for a pre- determined period of time, typically 15, 20 or 30 years.

MassMutual Offers Free Life Insurance To Working Parents In Michigan

KALAMAZOO COUNTY, Mich., April 9 /PRNewswire/ -- The Poverty Reduction Initiative of Kalamazoo County and the Massachusetts Mutual Life Insurance Company (MassMutual) are bringing MassMutual's LifeBridge(SM) Free Life Insurance Program to Kalamazoo County in Michigan. MassMutual's LifeBridge is a national philanthropic program in which the company issues 10-year term life insurance policies to eligible working parents to help pay for the cost of their children's education in the event they die. Through LifeBridge, $50,000 life insurance policies are issued to a trust on the life of qualifying parents or legal guardians to help pay for the education of their eligible children who -- in the event of a parent's death during the policy's term -- may not be able to afford to complete their schooling.

Buyers getting break on term life insurance

Think about college tuition, health care and your electric bill, and it's easy to assume that prices only move in two directions: up and way up.

But you might not have noticed that one important financial product is significantly cheaper these days: term life insurance. Industry experts estimate that term premiums have fallen 40 percent or more in the past decade alone.

"This is great news," said Gary Schatsky, a financial planner in New York. "You're buying the same thing you bought yesterday at a lower price. It doesn't get any better than that."

Part of the credit goes to longevity. With people living longer, insurers expect fewer claims in a given period and have been able to reduce premiums, industry officials said.

Competition also has trimmed prices.

Learn About Life Insurance; Part 3: What are the principal types ...

There are two major types of life insurance—term and whole life. Whole life is sometimes called permanent life insurance, and it encompasses several subcategories, including traditional whole life, universal life, variable life and variable universal life. In 2003, about 6.4 million individual life insurance policies bought were term and about 7.1 million were whole life.Life insurance products for groups are different from life insurance sold to individuals. The information below focuses on life insurance sold to individuals.TermTerm Insurance is the simplest form of life insurance. It pays only if death occurs during the term of the policy, which is usually from one to 30 years. Most term policies have no other benefit provisions.There are two basic types of term life insurance policies—level term and decreasing term.Level term means that the death benefit stays the same throughout the duration of the policy.

Life Insurance Becoming A Better Bargain

Think about college tuition, health care and your electric bill, and it's easy to assume that prices only move in two directions: up and way up.

But you might not have noticed that one important financial product is significantly cheaper these days: term life insurance. Industry experts estimate that term premiums have fallen 40 percent or more in the past decade alone.

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Insuring your life is now cheaper

Think about college tuition, health care and your electric bill, and it's easy to assume that prices only move in two directions: up and way up.

But you might not have noticed that one important financial product is significantly cheaper these days: term life insurance. Industry experts estimate that term premiums have fallen 40 percent or more in the past decade alone.

"This is great news," said Gary Schatsky, a financial planner in New York. "You're buying the same thing you bought yesterday at a lower price. It doesn't get any better than that."

Part of the credit goes to longevity. With people living longer, insurers expect fewer claims in a given period and have been able to reduce premiums, industry officials said. Competition also has trimmed prices.