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?