Term Life Insurance: The Basics

If you have a family, you may be interested in purchasing a life insurance policy to protect them in the event of your death. You may wonder what the differences are in types of insurance and which one would best suit your needs. Learn more about what term life insurance is, how to acquire it and why you need it.

What is term life insurance?

Term life insurance is a form of insurance that can help protect your family in the event of an unexpected death. A term life policy has a premium that is often paid monthly or yearly, and the policy is only active for a certain amount of time. Depending on your age at the time of purchase and how much insurance you can afford, your term life policy typically lasts between ten and thirty years. However, keep in mind that if you miss paying your premium, your insurance coverage is void.

How do I get term life insurance?

Affordable term life insurance is usually available with your local insurance agent; you can also search for a reputable insurance agency online. To determine your allowable amount of coverage and premium cost, you may have to undergo a physical exam to measure things such as blood glucose and blood pressure.

Why do I need term life insurance?

If you have a spouse or children or anyone else that depends on you for financial support, life insurance can be a way to provide for them after you are gone. In the aftermath of grief, it will make your family feel more secure in the future. This can give you peace of mind that your family will be financially secure after a tragedy.

If you do not have a life insurance policy, take the next step and call an experienced insurance agent today to protect your family’s future.