Mountain View Insurance – Term Life Insurance
Term Life Insurance is a great tool to include in your total financial plan. It provides a temporary coverage to protect in the case of death and it is extremely affordable.
Term Life Insurance – How Long Does it Last?
Term life insurance is set for a specified duration when the contract begins. These terms can be 5, 10, 15, 20, or 30 years. Every insurance company has different offerings for their term life insurance. Some companies only offer up to 20 years of term life insurance coverage.
Term Life Insurance – What are the Benefits?
The benefits of term life insurance are the relatively low cost for the death benefit coverage. It can also provide flexibility through a guaranteed convertibility option to allow you to transfer your policy to a whole life or universal life in the future, regardless of health.
Term Life Insurance – When is it Appropriate?
Term life insurance is appropriate when there is a temporary need. For instance, if you want to make sure your mortgage is paid off if you were to pass away then a 30 year term may be perfect! Another scenario is to protect newborn children against the loss of income if the primary income household member passes away. A 20 year term may be great for this scenario too.
Term Life Insurance – What Happens at the End of the Term?
At the end of the term the contract expires and you have to decide if you would like to put an application in for another policy. This requires another underwriting process such as blood work, urine analysis, and medical questions. There is no cash value built within term insurance either. To consider a permanent policy then follow these links to whole life and universal life.
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Related Pages:
https://mvinsurancecompany.com/blog/best-life-insurance-companies-2019/