TERM LIFE INSURANCE

For some people, whole life insurance may be way too expensive. That’s where Term Life Insurance comes in. This type of life insurance provides coverage for a fixed period of time, unlike Whole Life Insurance, which covers the entire lifetime of the insured.

If the insured person passes away DURING the term, a death benefit will be given to the beneficiary. If the person outlives the term period, then no death benefit will be given.

Here Are Some Key Points About Term Life Insurance

It’s Simple and Affordable. Because it doesn’t last forever, it’s a lot more affordable than Whole Life Insurance. This means you can get a larger amount of coverage at an affordable price, which is great if you have dependents.

Coverage and Premiums Are Fixed. This is one of the best benefits of term life insurance. The length of the policy and premium payments are fixed, which means you know exactly what to expect and can effectively plan around it financially.

It has no cash value. Some permanent life insurance policies like Whole Life or Universal Life have a cash value accumulated over time. Term life insurance doesn’t have this option.

Suitability. Term Life Insurance is perfect for parents looking to cover their kids until they’re old enough or until they are able to pay off their mortgage.

Who Are The Candidates For Term Life Insurance

Here’s a list of people who may want to consider term life insurance.

Young Families: For a young family, Term Life Insurance may be the perfect fit for many reasons. First off, it’s less expensive than Whole Life Insurance, which is essential when you’re young and may have a tight budget. Additionally, the coverage for your kids is temporary until they are grown up and able to support themselves.

Homeowners With Mortgages: Believe it or not, if something happens to you while you’re still paying off your mortgage, your family could be left in financial trouble. Term life insurance can cover the remaining balance of your mortgage and give your family peace of mind.

Small Business Owners: Term life insurance is an excellent option for small business owners who need coverage for a certain period of time. This is usually for businesses that are looking for a loan or financing.

Do You Need Help Finding The Right Term Life Insurance Policy?

If you’re unsure about which term life insurance policy is right for you, consider working with us in order to figure out what your needs are. We can help you compare quotes and find the best coverage for your life stage and budget.

Why We’re The Best Option For You

At Liberty Financial Group, we’re the best option because we don’t have salesman-pushing products just because we provide them. We have a team that works alongside 50+ insurance carriers to ensure you get the best rates and policies for your specific needs.

We not only make sure we find you the best policy possible, but we also make sure you fully understand it.

If you’re interested in working with us, click here now to contact us!