Affordable Life Insurance Protection for Your Family
Are you interested in buying term life insurance policies?
If so, there are several things you may want to consider.
First, term life insurance is temporary protection for a specific number of years, usually 10, 15, 20 or 30 years. Permanent (Whole) life insurance provides lifetime protection, that’s why it usually costs 2-3 times more than term life insurance.
When choosing a term life insurance plan you should consider the following:
Term life insurance is purchased to meet a specific goal. Why are you buying life insurance? To pay off your mortgage, provide funds to pay for your child’s college, provide money for your spouse’s living expenses, or retirement?
Whatever your reasons may be, having a goal in mind is a good starting point. That will help you decide how long you need life insurance, and how much life insurance you need.
For instance, if you want insurance to pay off your 30 year mortgage, you may want 30 year term life insurance. If you want to provide money to put your 3 year-old son through college, you may want 20 year term life insurance.
Next, how much coverage is right for you? It’s actually easier than it sounds to figure this out. You can use the life insurance calculator to find out how much life insurance you need.
Then, choose the type of term life insurance that’s right for your situation. There are a few plans to choose from, including Level Term Decreasing Term, and No Exam Term Life Insurance.
Types of Term Life Insurance
When buying a term life insurance policy make sure you consider your options, since there are a few different types of plans available to meet your specific needs.
Decreasing Term Life Insurance provides coverage that decreases each year, while your premiums stay the same.
Tips for Buying Term Life Insurance Policies
Top Pick – JRC Insurance Group
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Highly Recommended – Globe Life Insurance
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