Term Life Insurance Unlike whole life, term life insurance is designed to provide a death benefit -- and only a death benefit. Whole life incorporates an investment element, but term life provides a simple death benefit in the event of your death. When buying a term life policy, you will be able to choose the length of the term -- common terms are 10, 20 and 30 years. At the expiration of that term, you will have the option to purchase a new term life policy. For many individuals, the simplicity of the term life policy makes it the very best option available.
Mortgage Life Insurance People buy life insurance for many different reasons, but one of the most common reasons is to make sure the surviving family members are able to keep the family home. Buying a term life policy equal to the outstanding balance on your mortgage is a great way to protect your home and your family, and the costs of this type of term life insurance can be surprisingly low.
Buying the right life insurance can be a real challenge, but by becoming an educated consumer you can increase your odds of getting the best policy for the lowest possible premium. By learning about life insurance you will be able to provide your family with the protection they need and deserve.
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