Term Life Insurance Basics
A primary purpose of life insurance is to provide peace of mind and protection to your family and other people who may depend on you for financial support. If you die and lose your income, those who are dependent on your financial support will lose that income, so life insurance can help cover some or all of that loss.
Purchasing life insurance can be a daunting task but it doesn’t need to be. There are many types of policies and it’s hard to know which one is best for your needs. While I offer different types of policies, most of my clients choose Term Life Insurance for all or part of their coverage.
Term Life Insurance is basic life insurance, with no cash value buildup, that has a level premium cost for a certain period of time, such as 10, 20, or 30 years. You simply need to determine the amount of life insurance you need and the number of years you will need it.
Term Life Insurance is the most affordable way to purchase an individual life insurance policy for 30 years or less. That’s because you’re not paying extra premium dollars that go toward savings or investment in the policy.
“Term for Life”
If you need affordable, level-premium term life insurance for longer than 30 years, a regular term life insurance policy will not work. In that case, I suggest that you consider a policy called Guaranteed Death Benefit Universal Life. Most Universal Life policies are designed to build cash value over the years, but not Guaranteed Death Benefit UL. The purpose of these policies is not to build cash value, but to provide a term-type death benefit until your age 120, at the lowest possible premium cost. Some people call this type of policy “Term for Life”. It’s not really term insurance, but it acts like term insurance.
Multiple Carriers – Unbiased Solutions
Once you determine the amount of life insurance you need and the number of years you need it, I will gather your pertinent information, then shop my highly-rated, competitively priced carriers for quotes to find the best policy for you. I represent many insurance carriers, so I am able to offer unbiased solutions to your life insurance needs.
Request a Quote – Choose a Policy – Apply With Ease
After you have requested a quote, I will arrange a time to discuss your options. When you choose your policy, I can complete your application in person, by mail, fax, or email, whichever you prefer. I’ll take care of the communication and paperwork with the insurance company to make it as convenient as possible for you.