Term Insurance Benefits

Term insurance is less expensive than whole life insurance, because you are renting the insurance. Your coverage is considered pure insurance in this case, because it doesn’t develop cash value or participate in company dividends.Instead it allows you to get the right amount of protection for the least expensive premiums available. Term insurance has also developed over the years to offer more comprehensive options.

There are also term policies that allow you to lock in your age and health for the remainder of your life, so that you can have the coverage and premiums locked in for the rest of your life. This is a great and inexpensive way to obtain permanent insurance.You can get a return-of-premiums policy where you pay more during the life of the policy, but the insurance company refunds all of your premiums at the end of the fixed term.

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