Term Life Insurance






There are several different types of life insurance. There is term life insurance, whole life, universal life, and variable universal life. With all of these choices, it can sometimes be confusing as to which option is best for you and your specific situation. In this post, I’ll be giving you a basic overview of term life insurance.

Term life insurance is usually the least expensive option, depending on the length of the term for the policy, your age, and current health. The amount you pay for your policy is usually less than you would pay for one of the other options, such as whole life or universal life.

Level term life insurance provides coverage for a fixed amount of time with payments that will remain the same throughout the “term” of the coverage. If the person who obtained the coverage dies during the term, then the beneficiary of the policy will receive payment for the amount of the policy. For example, if someone purchases a ten year term $100,000 life insurance policy, then the beneficiary of the policy would receive the full amount of the policy if the premiums are up-to-date and the insured dies within the ten year period.

The length of the term for your policy could be ten years, 20 years, or 30 years. Once this period of time has expired, then you no longer have coverage, unless you decide to purchase another term policy with different payments and conditions or renew your current policy. And keep in mind that after the term policy expires, the premiums you were paying will probably increase or you may not be able to get another term policy. But this will depend on your specific situation. For example, it you acquired a terminal illness during the time you had your ten year term policy and your policy expires, then you may not be able to get another life insurance policy or renew the one you currently have.

There are many options available to you when it comes to acquiring life insurance to protect your loved ones. It just takes doing a little research and meeting with your local agent to decide which option is best for you. And I am always here to help you in that process.

I hope this has given you a little more insight into how term life insurance works. I’ll be giving you more information on term life insurance, whole life, and all your other options for life insurance in future posts.

Leave a reply