About Guarantees - Don't forget to read the fine print!

Term rates come in two varieties: guaranteed and projected.  Some level term products only guarantee their premiums for a portion of the level period.  For example a 15-year level term may be projected to be level for 15 years, but only be guaranteed for 5 years.  The remaining period is only "assumed" to be level.

Because of reserve requirements in most states, It is cheaper for the insurance company to issue a shorter guarantee, than a longer one.  Therefore, many projected policies show up on quote searches as the cheapest price.  Unless they are clearly marked, it is easy to mistake these policies for those with full guarantee periods.

Judging from past industry performance, it is reasonable to expect that many carriers will be able to sustain their "projected" level rates for their entire period.  In other words, their "projected" policies will perform exactly like their guaranteed counterparts except at a lower price.  It is also reasonable to assume that a few companies will not be able to meet their projections and will be forced to raise premiums before the end of the initial level period.

We are not recommending that you ignore these "projected" policies.  You might find bargains there.  We do however, want to make sure you know the difference and understand that a "projected" policy is very different from a guaranteed one.  Our quote comparison clearly displays the guarantee period for each product quoted.  Additional information on each product is available by clicking the quote page.

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