Term Life Insurance Q&A
About BeyondQuotes
- Why should I choose BeyondQuotes?
- Which companies do we represent?
- Is BeyondQuotes licensed where I live?
- Is my information confidential?
- Do you only offer rate quotes?
- How do we choose which companies to represent?
Defining Coverage
- How much Term Life Insurance do I need?
- What are "level" policies?
- What should be the term length?
- Is it worth insuring my spouse on my policy?
- Can you explain the difference between Term and Whole Life plans?
- I suffer form a pre-existing condition. Can I still be insured?
Applying for a Policy
- How do I apply for Term Life Insurance?
- How do I find the best value plan for my needs?
- What is the waiting period between applying and coverage?
Invest in Montana Term Life Insurance at Young Age
Montana means mountainous in Latin and Spanish vocabulary. The state is also known as ‘The Big Sky Country’ because of its unobstructed skyline, which can be seen anywhere in the state.
It is also called the ‘Treasure State’ and the ‘Bonanza State’ as Montana has an abundance of minerals, especially gold and silver. Billings is its largest city and Great Falls the second largest.
Age group |
Number of deaths every year (approx.) |
55-64 years |
810 |
65-74 years |
2100 |
75-84 years |
5200 |
Why Montana Term life insurance?
The state of Montana is 44th when it comes to the most populated states. Average life expectancy of people here is 76.2 years. As per a report, more than 795 people out of every 100,000 die in the age group of 54 to 63 years. The number of deaths increases in the 64 to 73 age group years and is highest in the age group of 74 to 85 years.
- Death benefit– Insurance companies are bound by the state insurance code to pay the claim to beneficiaries as soon as they file for it. The death benefit will also provide the beneficiaries an interest from the day it is filed. The rate of interest is likely to go up if the death benefits are not cleared within 60 days from the date of claim.
- Grace period- To accommodate missed payments, the insurance code in the state binds companies to offer a 30 day grace period. This provides a respite in case of emergency.
How to choose Term life insurance?
Buying term life coverage when young is one of the best ways to keep the premiums low and coverage to the maximum. It’s understandable that it’s hard to think of insurance when you are in your early twenties and your life revolves around partying, making a successful career and excelling in life. Even marriage is not on your mind and you are away from the responsibilities of family and its pressures.
But life won’t always remain the same, so it’s better to prepare for it in advance. If you buy term life insurance when you’re young, you will get the best rates. The added advantage is your family gets the maximum financial security too.
Youth Insurance is Cheap
When you are young, insurance companies don’t foresee you passing away any time soon and hence have less risk factor involved in it.
These companies profit from your premiums, which you pay for decades. They get a good return on the investment they make out of your premium and this is how they provide you with competitive rates which you remain locked in to for the term of your policy.
- The capital city is Helena.
- The largest city is Billings.
- The population is 902,200.
- The state’s motto is “Gold and silver”.
- Its nicknames are Treasure State and Big Sky Country.
Famous People of Montana
- Pulitzer Prize-winning author Alfred Bertram Guthrie.
- Author Dorothy Baker.
- Actor Gary Cooper.
- Actor Dirk Benedict.
- Writer and artist Will James.
- Comedian Dana Carvey.
- Football player and author Jerry Kramer.
- Actress Myrna Loy.
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