Is it true that a term life insurance plan doesnt pay out tthe full policy amount when you die?

Question

example...my term ploicy is worth 30000.

when i die, will the whole 30000 be given to me?

term type - renewable and convertible

also, which company has the best term plans?

Answer 1

In a sense.  If you die, the thirty grand won't be paid to you, but rather to the named beneficiary.  Since policy loans or other charges against the principal are rare on a term policy, the beneficiary should get the full amount.

Answer 2

No, it's not true.  If the policy is in force, they'll pay out the whole amount, even if the policy goes in force one week before you die.  

There's no "one company" with the best plan.  There are probably about 30 - 100, in your state.  You need to go to a local agent to get several quotes.

Answer 3

It will pay the full benefit to your beneficiary, not to "you."

Answer 4

contact northwesternmutual.com for the best

Answer 5

As a general rule term life insurance policies pay out the full face amount when you die.  It will be paid to your named beneficiary or your estate.  Sadly you will be dead.  

As far as the the companies with the best term plans, I would just encourage you to shop around, research as much as possible and be sure the company has a high A.M Best rating (A or better).