There are several good reasons that you may want to purchase a term life insurance policy.
First, it's important to understand how term life works. You purchase term life insurance for a specific "term", which is usually 10, 15, 20 or 30 years.
During the "term", you have level premiums and a level amount of life insurance coverage. If you die during the term, the death benefit is paid out to your beneficiary. If you outlive the term of your term life policy, the life insurance coverage ends with no death benefit paid out.
Term life is pure life insurance protection, not an investment. It provides life insurance only, there is no cash value that builds inside the policy.
Term life costs a lot less than permanent life insurance.
The most common reasons people buy term life insurance may include:
1. It's the least costly type of life insurance.
2. To get the most life insurance for your money.
3. Only need life insurance for a period of 30 years or less.
4. You may convert term life into a permanent life insurance policy in the future, if needed.
5. It's easy to understand.
Learn how you may buy term life insurance protection online.
First, it's important to understand how term life works. You purchase term life insurance for a specific "term", which is usually 10, 15, 20 or 30 years.
During the "term", you have level premiums and a level amount of life insurance coverage. If you die during the term, the death benefit is paid out to your beneficiary. If you outlive the term of your term life policy, the life insurance coverage ends with no death benefit paid out.
Term life is pure life insurance protection, not an investment. It provides life insurance only, there is no cash value that builds inside the policy.
Term life costs a lot less than permanent life insurance.
The most common reasons people buy term life insurance may include:
1. It's the least costly type of life insurance.
2. To get the most life insurance for your money.
3. Only need life insurance for a period of 30 years or less.
4. You may convert term life into a permanent life insurance policy in the future, if needed.
5. It's easy to understand.
Learn how you may buy term life insurance protection online.
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