JRC Life Insurance
Finder rating 5 / 5 ★★★★★
- Quick online quotes
- Live chat
- Help for high-risk candidates
- Good customer ratings
- No-exam options
- Limited customer support on weekends
- Online term quotes start at $25k
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Most life insurance companies have few requirements to qualify for their $10,000 life insurance policies, outside of your age. Most of the plans available at this coverage level don’t require a medical exam, meaning that you could qualify with pre-existing conditions or at an older age. However, you usually pay steeper premiums with this policy over one with a higher payout and stricter eligibility criteria. Consider all your options to find the policy that fits your needs to a T.
Finder rating 5 / 5 ★★★★★
Get a general idea of the types of $10,000 life insurance policies available and their costs. However, the cost of your life insurance depends on the type of policy as well as personalized factors like your age, current health, job and lifestyle habits.
|Type of policy||Who it’s best for||Amount of coverage||Average cost|
|Child rider or child’s policy||$1,000 – $50,000||$50–70 per year for a $10,000 policy|
|Final expense||Those looking to cover end-of-life costs, such as a funeral||$5,000 – $25,000||Starts at $20 per month|
|Group life||Employees||$10,000 – multiples of your annual salary|
|Guaranteed issue||Those who want to forgo the medical exam||$5,000 – $50,000||Varies, but more expensive than other policies|
|Simplified issue||Those who can’t get a standard policy but need cheaper rates than other no-exam policies||$5,000 – $500,000||Varies, but more expensive than other policies|
When deciding on a life insurance policy, consider whether $10,000 would pay for your expected expenses or whether one of these situations applies to you.
Few insurers offer life insurance with coverage less than $100,000 because low-coverage policies are considered a specialized product. Reasons to consider a higher level of life insurance coverage:
Since a $10,000 life insurance policy usually doesn’t require a medical exam, they tend to cost more than those that need the exam. By comparing other life insurance policies, you may find one with a similar premium to the $10,000 policy but with higher coverage like $20,000 or $50,000. Even if you don’t need the extra amount to cover expenses, you could leave it as an inheritance for your loved ones.
Opinions are split on the value of children’s life insurance because most children outlive their policies. Some policies come with a college savings component, but without the interest that a regular savings account yields.
However, covering your child may be worth it if you can convert the child’s life insurance coverage to a separate policy under their name later. You may want this to protect their ability to get life insurance as they get older.
Not all policies allow you to add coverage. If you think you’ll want to expand your coverage, make sure that your policy can be converted and expanded or that you can buy a replacement policy down the road.
Weigh your life insurance options by looking at each company’s eligibility requirements, amount of coverage and cost. Then, select Go to site to start your personalized quote.
If you’re looking to cover the bare minimum of end-of-life expenses or don’t qualify for other policies, a $10,000 life insurance policy could work for you. But in many cases, you can compare different life insurance policies and find options for a similar cost and higher coverage. That way you can make sure you’re getting the most value out of your life insurance policy as possible.
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