Term Life Insurance

What is Term Life Insurance?

Term life insurance, as the name implies, is a policy which lasts for a specified term or length of time. It is the most popular type of life insurance on the market today. Most policies come in an interval of five years: 10, 15, 20, 25, 30, 35, etc. Many people who are pursuing term life insurance, pursue a policy that will cover them until a major milestone is completed. For example, the number or years left on a sizeable loan (like a business loan or mortgage) would make a good term life insurance term.

 Why Get a Term Life Insurance Policy?

Replacing a lost source of income – If someone provides income for their family and that person passes away, that source of income is no longer there, weighing heavily on the family. Death benefits of a term life insurance policy can reduce the burden on those left behind.

Finding financial goals – A portion of the death benefits can be allocated toward mortgage payments or a child’s college fund.

Covering medical and funeral expenses – A dependable life insurance policy, even life insurance without medical exams, can recoup a lot of the medical and funeral expenses.

Creating an inheritance plan – If you want to leave behind money for your children and/or grand children, the death benefit from your life insurance policy is a great start for a savings or investment plan.

Get a Term Life Insurance Quote

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Posted by on Feb 27, 2012 in Blog | 0 comments