What is no load term life insurance ?
No load term life insurance is basically insurance that is not based upon commission for the insurers. You could obtain this insurance from a broker over the telephone or by completing an online application. You will need to answer a series of questions regarding you health, occupation and life style.
What is term life insurance?
A Term life insurance policy will provide you with life cover for a set amount of time. This could be to coincide with mortgage repayments or until your children are old enough to be able to look after themselves. Should you die during the term of your policy then a sum of money will be paid to your family. Term insurance is often the most inexpensive way of buying life insurance.
With a no load term life insurance policy, you will not have any cash value but in the main your premiums will be lower then for other types of life insurance.
Buying no load term life insurance
When you purchase no load term life insurance the company will not pay the person who is dealing with your request any commission. What will generally happen is that you will pay an already agreed fee to pay for the work that the insurer is carrying out. Therefore the first payment that you make will be your premium plus the cost of this set advisory fee.