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

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...

090921 Those Dying From Covid-19 Are Least Likely to Own Life Insurance...

Many companies have sharply reduced estimates of their exposure, as measured by payouts per 100,000 U.S. fatalities As the number of U.S. corona virus deaths surpasses 200,000, public-health experts point to a series of missteps and miscalculations in the country's response. Here’s a look back at how the U.S. became the center of the global pandemic. Sept. 28, 2020 5:30 am ET U.S. life insurers are paying out far fewer Covid-19 death claims than initially expected, largely because the virus is disproportionately killing people with little to no insurance. In the past few weeks, many life-insurance companies have sharply reduced estimates of their exposure, as measured by payouts per 100,000 U.S. Covid-19 fatalities. Estimates have come down by an average of 40% to 50%, according to Credit Suisse stock analyst Andrew Kligerman. Driving the rapid reduction in exposure are two groups… older Americans and minoriti...

080822 Less Common Life Insurance Needs

On top of the most common reasons for buying life insurance, It can help cover some less common needs. These could include… *Insuring Children Buying a policy on a child can ensure that the family will financially Survive the loss of the child, but keep in mind that such a loss is Fairly unlikely. It can also ensure the child’s ability to qualify for life Insurance in the future. That could be helpful in the case of a health Diagnosis that might make it harder to pass the underwriting process. *Replacing Retirement Benefits Life insurance is often marketed as income replacement for an Insured person during their working years, but some retirees may Choose to keep theirs after leaving work. It can be used to replace The loss of any retirement income for their spouse or any dependents. *Investment Permanent life insurance can provide you with a potential income Source. You can access your cash value once it has buil...

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