We at drop-dead have heard every excuse in the book as to why people don’t buy term life insurance. It’s a long list, and all the excuses are complete bullshit. The most common excuse we hear is “term life insurance is too expensive.”
Term life insurance has become cheaper and cheaper over time. The three main reasons why term life insurance has become cheaper over the last 20 years are:
- Medical Advancements
- Technology
- Lifestyle
Let’s get into these three reasons and see why term life insurance is finally affordable, even for the family that is on a tight budget.
Medical Advancements
Term life insurance has been around for hundreds of years. Over that period of time, we have had a lot of medical advancements that keep us alive longer. What used to kill us 50 years ago is now treatable with over the counter medicine at a pharmacy near you. You have access to better medicine and doctors that are smarter and better equipped to keep you alive. All in all, it’s very unlikely that you will die from disease before you turn 60. Hooray for medicine and longevity! However, you still need term life insurance from the best and cheapest life insurance company in Canada, drop-dead term life insurance.
Technology
The insurance business is a layer cake of bureaucracy and inefficiencies. There are 4 layers of people that need to get paid before the customer can get life insurance. That’s a lot of mouths the customer has to feed. Let’s break them down:
- Reinsurance – what on earth is that? Reinsurance is an insurance company for the insurance company. I know it sounds ridiculous, but it’s true. Insurance companies only hold a portion of the risk of your term life insurance policy. Insurance companies share the risk with reinsurance companies. So, the reinsurance company gets a portion of your policy and gets paid for it. That’s layer one and it’s a coat to you.
- Insurance company – that’s the company that administers your policy and holds some of the risks of your policy. They get paid on your policy. That’s layer two.
- MGA – that stands for Managing General Account. That’s another administrative company that needs to be paid. MGAs look after brokers. There are 50,000 insurance brokers and they are looked after by 5 main MGAs. The MGAs are useful to some extent, but in the commoditized term life insurance space, they add very little value. Yet they need to be paid.
- Brokers – that’s right. The people you really don’t need to speak to when buying cheap term life insurance. You can use a calculator on drop-dead to get the right amount of term life insurance for you and your loved ones.
So, you can see how inefficient term life insurance has been. Thankfully you now have access to dropdead term life insurance. We have used technology to make term life insurance cheap and easy. We have not yet collapsed the layer cake, but we are the cheapest and easiest to understand. The dropdead online platform will give you a great experience when you buy cheap term life insurance.
Lifestyle
People, in general, are living longer and healthier lives. We have better access to food and health care. So too, we drive safer cars and get into less life-threatening situations than our daredevil predecessors. We smoke more weed and fewer cigarettes. That’s a good thing too. We are dropdead are partial to a couple of joints a week. Cigarettes not so much. Booze is also cleaner, but we know that drinking too much is not only uncool, but it’s also pretty bad for you. So, all in all, we are moving in the right direction. Better lifestyle choices which lead to longer and healthier lives.
So, there you have it. Term life insurance is cheap. You can’t use that excuse anymore. So be a decent human and look after your loved ones. Buy term life insurance from the cheapest and best online life insurance company in Canada, dropdead.
Don’t wait till it’s too late. dropdead term life insurance is the best and cheapest life insurance solution you could wish for.
