If you are looking for the lowest cost form of term life insurance, you’ll be interested in what is known as no load term life insurance. Simply put, this is a form of life insurance where the seller does not receive any commission for signing you up for a policy.
Usually this form of term life is offered straight from the life insurance companies since there is no need for a middle man. Since the companies do not have to pay for marketing expenses, you are able to get insurance at a much lesser cost than a regular term life insurance plan.
If you would like to buy a no load policy, you can get quotes online or from a specialized insurance advisor. The advisor is not the same as a usual insurance broker. While you can get a no load plan for very low cost, it will not build any cash value. Like other forms of life insurance, you need to do your homework first to determine the plan that will suit your needs and your budget.
Like other life insurances, a no load plan is a great way to secure your family’s financial situation in case of future tragedy.