Why Should I Get Term Life Insurance?

The are two common characteristics of someone who should get a term life insurance policy:

1. They need the most life insurance coverage for the lowest price now.

2. They need as much life insurance as they can possibly afford for the distant future up to a period of 30 years.

Since term life insurance is temporary to offers the lowest cost for life insurance protection that will last for a period of up to 30 years.

Term life is pure life insurance protraction, not an investment.

You can choose a "term" of 10, 15, 20 or 30 years depending on your age and health.

Your premium is guaranteed to remain the same for the entire term of the policy. If you outlive your term, then the life insurance coverage expires, unless you renew your policy for a higher premium based on your age at renewal.

Term life insurance policies offer much lower ages compared to permanent life insurance which provides lifetime coverage.

Many young families and people on a budget choose term life insurance. In addition, if you have debts lasting 30 years or less; such as, a home mortgage loan, then term life insurance may be a good option for you.

Keep in mind, you can own more than one life insurance policy, So, you could have a term life insurance plan for your needs of 30 years or less, and a permanent life insurance policy to provide lifetime coverage for your final expenses.