Understanding Term Life Insurance

You have people who depended upon you, and life insurance is about providing a safety net for them if something should happen to you.

Simply put, you pay a monthly premium for a set amount of death benefit. 

TERM INSURANCE IS DESIGNED FOR PEOPLE WHO

  • Require the coverage for only a specific period of time. For example: to pay off a mortgage or replace a spouse’s income.
  • Have a limited budget and a high need for insurance.
  • Have young children.
  • Have a large amount of debt.

PROBLEMS THAT TERM LIFE INSURANCE CAN SOLVE

  • Providing money for unexpected expenses after the passing of a loved one.
  • Ability to care for loved ones when unfortunate life events occur.
  • Assistance in replacing the loss of income in the event of a death.
  • Assistance in covering costs of funeral arrangements.
  • It can also cover the educational needs of the children.
  • It can help pay off the mortgage and/or other debts.

  If the death benefit need to be paid out, this will be tax-free to the listed beneficiary.

Next Steps 

1)Write out the questions you still have?

2)Set up a time to get your questions answered? 

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