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Why You Should Buy Term Life Insurance
Article 6 of 14 in How to Find the Best Type of Life Insurance
Many people buy term life insurance because it is affordable, flexible, and serves their life insurance needs. Term Life Insurance is a type of life insurance that is for a specific term or period that you can purchase to cover your needs in the immediate and foreseeable future. The low cost term life insurance premiums can fit almost any budget and life insurance companies offer their term packages in flexible plans to fit your budget, lifestyle, and life insurance needs.
TIP: To help you decide how much to buy and for what terms, ask a reputable insurance agent. Getting a quote on a low cost term life insurance is easy. An agent will conduct an insurance needs analysis to determine just how much death benefit you need and the best term life insurance policy for you.
Why Buy Term Life Insurance
Many insurance agents will tell you, buying term life instead of permanent life is a good decision. The benefits of buying term life insurance include:
- Cost: The price of life insurance can be a big factor for many people, and term life is the cheapest policy available.
- Same Benefit: For less money, you can purchase a term life insurance policy with the same death benefit as a permanent life policy. Permanent life insurance policies add savings or investment accounts that build cash value, but if you are focusing your needs on the death benefits then a term life policy gives you the same insurance coverage at a lower price.
- Flexible Finances: The savings or investment accounts that accompany various permanent life insurance plans are nice tools to build your finances, but are not your only options. If you manage your term life insurance you can roll the money you save on life insurance premiums back into your budget, or invest it elsewhere and build your financial portfolio.
- Meets Your Changing Needs: As your life changes, so will your need for life insurance. A low cost term life insurance plan will expire, and give you the opportunity to renew or find a different plan to accommodate your changing needs.
- Easy to Get More: If you have a child or get married or add a business partner and increase the number of people who rely on you for financial support, then you may want to increase your life insurance policy. You can easily buy another term life insurance policy and add it to your portfolio for however long you need. The new policy will layer on top of your old one giving you enhanced coverage for the life of the term.
Term life insurance is affordable, flexible, adequate, and designed to meet your changing needs. If you have any additional questions about what a term life insurance policy can do for you, contact an experienced life insurance agent.
How to Buy Term Life Insurance
Buying Term life insurance is easy, and can be done with an online quote or by talking to a life insurance agent. You will need to answer questions such as your birth date, your weight, your height, if you are a smoker, well as a few preliminary health questions. These questions will factor into a preliminary rate quote. Once your application is complete and accepted, you will receive a final quote on your premium amount. Depending on the insurance company's underwriting guidelines, this amount can vary between insurance companies, so shop and compare several quotes from several different insurance carriers.
When you are in doubt, get the advice of a reputable insurance agent. Never underestimate having a great relationship with a trustworthy insurance agent who can steer you in the right direction to find term life insurance that fits your needs. When you are ready to get free quotes on term life insurance, click here to visit the Free Advice quote center today.
Read more about finding the right type of life insurance by clicking here.