Skip to main content

072322 4 Advantages of Term Life Insurance...

4 Advantages of Term Life Insurance

 

Here's why term life insurance can be a good fit, particularly for young families on

a budget.

Navigating the ins and outs of all the different types of life insurance can seem

intimidating, especially if you’re buying your first policy. That’s why many shoppers

choose term life insurance. It’s a good fit for most people, particularly young families

on a budget looking for temporary coverage. 

 

Here are four advantages to term life insurance...

 

1. Less expensive

On average, life insurance rates are more affordable for term than whole life

insurance because term policies offer coverage for a predetermined time. If you

outlive the term and the policy expires, your beneficiaries don’t receive the 

death benefit, so it’s less of a risk to the insurer. Whole life insurance premiums, 

by comparison, are higher because the policies pay out no matter when you die.

All of the best life insurance companies sell term life.

 

2. More flexible

You have many options when choosing how long your term life insurance should

last.  Typically for 10, 15, 20, 25 or 30 years. If you’re the breadwinner and want

a policy to cover your mortgage, a 30-year term might be a better match. 

These needs disappear over time, and so might your need for a policy.

 

3. Good for young families

Because term life covers only a specific period and is generally less expensive

than permanent life insurance (whole life), it’s a great choice for young families

looking for temporary coverage. For example, you can buy a policy to cover the

years your family relies on you financially, and lower your coverage when your

children become self-sufficient.

 

4. Simplicity

Term life insurance is easy to understand, which makes it simple to shop for and

compare life insurance quotes. As long as you pay the premium, you’re covered

for the duration of the policy. You need to make only three main decisions...

how much life insurance coverage you need, how long you want the coverage to

last and which insurer you want to do business with.

For many people, term life insurance is a simple, affordable way to safeguard the

financial health of loved ones if something happens to them.

 

Georgia Rose, Jan 19, 2022

https://www.nerdwallet.com/article/insurance/benefits-of-term-life-insurance

 

Hayden Childs

Alabama Licensed Agent

(205) 269-1382

Shcmail34@yahoo.com

 

Need Term Life Insurance?

https://www.helloplum.com/agent/childs-806

 


 

 

 

 

Comments

Popular posts from this blog

022823 The 9 Benefits of Whole Life Insurance...

(1) Provide for Loved Ones…   It’s the basic need everyone thinks about. You have a young family. You are the major breadwinner. Something happens to you. How is Your family supposed to make ends meet? It’s a form of protection. Peace of mind.   (2) Key Man Insurance…   You and your partner own a business. It’s grown. Many employees Depend on you. If something happens to your partner, it’s likely their Spouse or family will inherit their share of the business. Cash would Be a lot more useful to them. Life insurance on both partners can Provide the cash to buy out heirs and keep the business intact.   (3) Emergency Loans…   Hopefully your client lives a long life. The whole life policy accumulates Cash value, eventually growing to the full face value, or beyond. Many Policies allow you to borrow money against the cash value. You would pay interest.   (4) Funding Estate Taxes…   Your client owns a farm. I...

101724 What Cancer Cannot Do...

“Cancer can take away All of my physical abilities. It cannot touch my mind, It cannot touch my heart, And it cannot touch my soul.” Coach Jim Valvano *** What Cancer Cannot Do Cancer Is So Limited Cancer Cannot… Cripple love! Corrode faith! Eat away peace! Kill friendship! Silence courage! Invade the soul! Quench the spirit! Destroy confidence! Reduce eternal life! Erase the promises of God! Obliterate happy memories! Shatter the hope of Heaven! Lessen the power of the resurrection! Keep the faithfully obedient from Heaven! - Dr. Robert L. Lynn *** To all walking this road… Blessings and love. Cancer took away from me Two special ladies in my life. My mother and mother-in-law; Knowing I will see them again And knowing they are in a Better place gives me hope And comfort. - Hayden Childs *** Don’t worry your life away Waiting for the elusive prize At journey’s end. The journey is the prize. - Marsha Mercan  *** In this world it is not what we take up, but what we give up, that make...

083121 Do You Know the Whole Life Story?

  Change comes at us from every angle as people update and upgrade everything from their diets to their devices, seemingly every day. When we enter adulthood as a young professional, we never imagine that we are only a couple dozen phones or a handful of trendy diets from marriage, parenthood or even retirement. Diets and devices can be great, but not all change is good, right? At every stage of life, financially confident people know that they can embrace the good and safeguard against the not-so-good with solutions designed to do just that. Enter: whole life insurance. Not just your parents’ insurance, whole life can actually benefit you no matter where you are in life.    THE BEGINNING: YOUNG PROFESSIONALS    When we’re young and focused on our dreams, we rarely consider the possibility of an unexpected, devastating change. What would happen if you died prematurely? It may be unsettling to think about, as it would be very painf...