What is the advantage of term life insurance?
Term life insurance offers consumers like you several benefits over other types of life insurance.
Term life provides low cost life insurance, with flexibility to meet your family’s needs for life insurance protection.
Why pay more than you need to for life insurance? Term life insurance offers you the lowest premiums.
Why pay for life insurance when you don’t need it?
Term life also offers you the option of choosing flexible coverage while you need it – for 10, 15, 20 or 30 years.
Term life insurance is easy to understand.
Here’s how it works: For example, you purchase a $250,000 level term life insurance policy for a 20 year term, and annual premium of $250.
This example means you would pay $250 each year for your life insurance. You have coverage for 20 years. If you die during the 20 year term, your beneficiary would receive the $250,000 life insurance death benefit.
Life insurance proceeds are usually paid free from federal income tax, and can be used for any reason.
Level term life insurance is the most popular type of life insurance purchased because it offers guaranteed level rates and coverage for up to 30 years.
That makes it easy to budget your life insurance premiums, and level term often offers the lowest premiums for life insurance.
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