Term Life Insurance Policy

Term Life Insurance Policy

Is A Term Life Insurance Policy For Me?

Many people see life insurance as kind of a gamble. Well I guess in truth you could really say that about any kind of insurance. Many people want to protect there families just in case the unthinkable happens and that they are no longer around in order to provide for them. Unfortunately many people will just go and take out the standard full life insurance policy without really looking into it, but in most cases many of these people would be better of with a term life insurance policy.

What Is It?

To put it as simple as possible term life insurance will cover you for a certain amount of years. It can be anything for example from 1-10 years. If you have a policy that is lets say worth 100 grand and that policy is for yen years and you pass away after 8 then that amount would be paid out. If however nothing happens after the 10 years then the policy will expire and you would need to take out another one.

Should I get Term Life Insurance?

This is a tough one on a case to case basis to answer. But for my own personal experience my wife and I decided that when our kids were full grown and in there 20’s that they should be able to take care of themselves. So we took a 15 year policy when they were 12 and 9. Now if the unthinkable happens they at the very least will be covered until they get finished with there education. So for me and my family as term life insurance lets you be more specific over what you want your policy to cover was ideal for us. And if we are fortunate that nothing happens after these 10 years we can then look into taking a different policy.