Greatest Death Benefit for Lowest Premium Outlay… Advantage No. 1. Term insurance allows a person to acquire the greatest death benefit For the lowest premium outlay when the policy is first issued. However, this does not mean that term insurance is necessarily the least expensive form of insurance over the full duration of needed coverage. Because renewable term premiums increase at each renewal, at the later Ages the premium cost will far exceed the level premium that would have Been charged for an ordinary whole life policy issued at the same age as The original term policy. Advantage No. 2. A Term Policy Is the Best Alternative for Temporary and Short Time Frame Needs. Term insurance is the best alternative for temporary life insurance needs. Usually term insurance is the best alternative if protection is needed for less Than ten years. Conversely, some form of cash value life insurance will Generally be the be...
I am a Independent Agent licensed in the state of Alabama.