What are some questions I should ask before purchasing a term life policy?
When it comes to term life insurance there are several things to consider:
- How much insurance do you need?
- How many years do you need coverage?
- How much can you afford to spend monthly?
- How much will your term life insurance cost?
- How long is your premium guaranteed to remain the same?
- When will your term insurance policy expire?
- Do you have to take a medical exam?
- What is the financial strength rating of the insurance company?
- How long has the insurance company been in business?
- Can you renew your term policy for another term?
- Can you convert your term life policy into a permanent life insurance policy?
Here's how you can learn more about how a term life insurance policy works.