Affordable Life Insurance Protection for Your Family

Who Needs Term Life Insurance?

If you are in the market for a life insurance policy and wondering which type of plan to get, you may have heard about Term Life Insurance.

 

Term life is temporary coverage for a duration of up to thirty years.

 

Term insurance provides you with the most affordable type of life insurance for a specified period of time. You may be able to choose a duration (Policy Term) of 10, 15, 20, 25 or 30 years of protection.

 

But is Term Life right for you? It depends on how long you need your life insurance coverage to last in order to accomplish your goals.

 

If you need life insurance protection to last for thirty years or less, then term insurance usually offers the most affordable coverage by far.


 

Common Reasons for Buying Term Life Insurance

 

  • Getting Married
  • Starting a Family
  • Expecting a Child
  • Getting Divorced
  • Buying a New Home
  • Main Breadwinner of Your Family
  • Buying a New Car
  • Promotion at Work
  • Legal Guardian
  • Adopting a Child
  • Starting a New Business

 

These are just some of the more common reasons people may choose to purchase temporary (term) life insurance coverage.

 

In addition, many couples or married couples buy term life insurance policies for both partners, so each one is covered in case the other dies unexpectedly. Many of us rely on our spouse or partner’s income to help pay the monthly bills and maintain our standard of living.

 

Term insurance offers flexible, affordable, easy-to-understand life insurance protection.

 

Term life is temporary life insurance lasting for a set number of years.

 

The "Term" or "Policy Term" is the period of time you have life insurance coverage under a term life policy.

 

You may choose coverage lasting for 10-30 years.

 

The longer your policy term, the higher your annual cost of insurance.

 

If you (Insured Person) die during the policy term (while your coverage is In Force), the death benefit from your policy is paid out to the person or persons named as beneficiary of your life insurance. You select the beneficiary of your policy.

 

If the insured person is alive when the term of your life insurance expires, there is no payout of any benefits, and the life insurance coverage ends.

 

Permanent life insurance usually cost up to 5-10 times more for the same amount of life insurance compared to pricing on term life policies.

 

Review of Who Needs Term Life Insurance

 

If you need life insurance protection for 30 years or less, then term life is the option to consider for your coverage. Many young families, people with homes and those between the age of 18 to 70 years old, usually consider the purchase of term life plans to meet their life insurance needs.

 

Term Life Insurance Quotes

 

Top Pick – JRC Insurance Group

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Who Needs Term Life Insurance?


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