Term Life - Affordable Coverage
What impact would the loss of an immediate family member have on your family’s financial stability? If someone will suffer financially when you die, chances are you need life insurance. Term life insurance is an affordable solution. Life insurance provides peace of mind. Life insurance also provides income stability which would allow your family to stay in their home and maintain their lifestyle.
What is term life insurance and when is it best used?
Term life insurance policies are available for ages 18-80, and you can choose to have your policy last from set term lengths—the most common are 10, 15, 20 and 30 years. Your payments and death benefit are fixed, meaning that neither will change or fluctuate during your term length.
Term life insurance is perfect for specific time frames, such as paying off your 30-year mortgage, or for specific needs, such as paying your children’s college costs that will start in 15 years. Basically term life will give you the most bang for your buck for a fixed period of time. However if you want a policy that lasts your entire lifetime, then permanent life insurance might be the better option. Sometimes a combination of the two is a good solution. Everyone is different. It depends on your needs and your budget.
Also keep in mind that term life insurance rates are more affordable while you’re younger and healthier so the sooner you apply the better the price you will lock in for the term.
Typically people get term life insurance to cover:
- Lost income
- Help pay the bills and meet ongoing living expenses
- Mortgage payments
- Protect a spouse’s retirement plan
- Finance future needs like your children’s education
- Leaving a legacy to loved ones
- Continue a family business
- Other debts that have specific end dates such as a car loan or business loan
- Funeral or any other expenses your family may have
Get a term life insurance quote and instantly compare rates. Just fill out some basic information (no personal info will be collected) and we’ll show you a few different policy options and rates from leading term life insurance companies—then just continue with the best company for you. Depending on the coverage you select, a brief medical exam may be required to secure the best rate.
Get a quote online or call for expert advice 484-919-5423