Why Would You Buy Term Life Insurance?

Are you considering the purchase of term life insurance coverage?

If so, you may want to review some of the most common reasons people choose to buy term life.

Although term life is inexpensive, it does have drawbacks. Term life is temporary and you may outlive your coverage, which means your policy expires with no payout if you are alive when the coverage term ends.

However, permanent life insurance can cost up to 5 to 10 times more than term coverage for the same amount of insurance.

So, if you need life insurance that lasts for a period of 30 years or less, term life may be a good option for you.

There are many reasons to buy term life, including to pay off your mortgage loan, replace your income, or provide for your child's college education.

Learn more about why would you buy term life insurance protection.