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Why
buy Term Life Insurance coverage?
Term Life
Insurance can provide you with large dollar amounts of death benefit at an
affordable price. These policies are designed to give you protection
for a guaranteed number of years with a guaranteed level premium.
Many people buy term life insurance to cover mortgages, college tuition,
replacement of income and any other financial obligations that have a set
amount of time that they may be financially responsible.
What is Term Life
Insurance?
Term Life
Insurance is a life insurance policy that has a specific term or
time frame that it is guaranteed. You can buy a term life insurance
policy with 5, 10, 15, 20, 25, and even 30 year periods.
Why is it so
cheap?
Term Life
Insurance has few of the features that are associated with other life
insurance policies. Whole Life Insurance, Universal Life Insurance,
and other variations of permanent life insurance, have internal cash build
up available for the policy owner to access based on its design.
Policy owners receive interest and interest compounding on these cash
values. Permanent life insurance policy owners pay a higher premium than
term life insurance owners because it is that excess premium that
accumulates for available cash later on. Term Life Insurance does
not build a cash value. It is pure insurance coverage for a set
number of years.
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