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Low Cost Life Insurance - Term
Term life insurance policies are designed to provide financial
protection at a relatively low cost particularly during the early
years of one's life. The contract between the policy owner and the
insurance company is for a specific period of time or "term." Term
policies deliver pure death benefit protection, and appeal
primarily to those seeking low cost - effective temporary coverage.
Who Needs Term Life Insurance:
- People with a shorter term need for life insurance
- Those who need a large amount of life insurance protection at a low cost due to a
- People with specific business needs (e.g., business owners who
want to cover the life of a key employee who has a set number of
years until retirement).
Why Do You Need Low Cost Life Insurance:
- It may cover your family's immediate financial needs at a lower
out-of-pocket cost than whole life insurance.
- It may help to protect and maintain your family's standard of
- It may create a valuable emergency fund for unforeseen expenses
when your family needs it most - at the insured's death.
- It may clear any short-term debt that has accumulated over time
to give your family a "clean financial slate."
- It will make sure that your family can pay the monthly
- It may safeguard your children's education costs.
- It may pay off any outstanding personal and business
- It can fund a buy-sell agreement for a start-up business to
help provide for an orderly change of business ownership.
- It can supplement whole life insurance coverage until more can
Term Life Insurance Coverage and Benefits:
- Provides protection for a specific term (typically one to
- Produces a death benefit that is generally free from income
- It is often renewable after the policy term without evidence of
- Usually costs less than whole life insurance in the
- Can usually be converted to permanent insurance with the same
company during part of the life of the policy
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Insurance Quote - Term Life