To Rent or Buy – A consideration Term Insurance
Term Insurance is often considered “rented” life insurance because what you own is the right to the coverage without any cash value. When you purchase Term Insurance you are “renting” coverage for a set period of time – for example 30 years. As a “rented” product, Term Insurance can cost substantially less than other life insurance options. However, cost does not equal value.
Term insurance can be an excellent value when:
- Your need for coverage is limited - 10 to 30 years (for example, covering a mortgage)
- There is uncertainty about your future requirements (will you sell your business in the future or pass it on to an adult child?)
- Your income is expected to increase but your current budget is limited
Term Insurance is available with many options including:
- Guaranteed Level premiums over the term of the policy
- Accelerated death benefits of up $250,000 in event of terminal illness that may be used “Income Tax Free” in any way including medical treatment or expenses not covered by health insurance, family travel or a supplement to lost income
“Conversion” to permanent coverage without the underwriting policy thus “locking-in” your insurability.
Benefit from the peace of mind that comes from knowing you truly have a trustworthy, caring, competent resource for all your life, health, retirement and income preservation needs.
Call or Email us to determine what type of coverage makes the most sense for you and your loved ones.