Term life insurance is pure insurance protection that pays a predetermined sum if you were to die during a specified period of time. Upon your death, term insurance would pay the face value of the policy to your loved ones.
All premiums paid are used to cover the cost of this insurance protection. Because term insurance builds no cash value, some experts suggest that you buy term insurance and save the difference between the cost of term and permanent insurance. They further suggest that you put the money saved in an investment which will usually earn a higher rate of return and interest than that guaranteed on the savings portion of permanent insurance. According to these experts, if you do this, term insurance will be the best buy.
A term policy can be 5 to 20+ years, but unless renewed, the insurance coverage ends when the term expires. Term life insurance is sometimes referred to as “temporary insurance coverage”. It is the least expensive coverage to acquire. For example: A healthy 35 year-old (non-smoker) can usually obtain a 20-year level premium policy with a $250,000 face value, for as little as $15-$20 per month. Contact us today here in Spokane Valley, close to Liberty Lake, to discuss term life insurance with us.
If you are wondering whether or not you should buy life insurance, ask yourself the following question...
Would your death leave your loved ones in a financial bind?
If you answer “yes” to any of these questions, it may be time to get serious about shopping for life insurance. Life insurance can offer you and your loved ones peace of mind, ensuring that your debts or loved ones are taken care of in the event of your death. It is quick and easy to get a quote and to see if you qualify.