FAQ about life insurance
What is Term Life Insurance?
Term insurance policies provide affordable, temporary coverage. This product is good for a certain term that you determine up front. The premiums are level for the time frame of your policy, for example 10, 15, 20, 30 years and will remain in effect for the duration of that period.
What is Return of Premium (ROP) Term Life Insurance?
You'll pay extra for a regular Term Life Insurance policy, but if you don't die after the guaranteed term period is over, you'll get back the money you paid in for the policy (the Insurance company invests your extra premium for capital growth, enabling them to return your premiums to you at the end of the premium period).
Who should buy Term Life Insurance?
Anyone who has a spouse or children that depends on them for any kind of financial security, including paying only part of the living expenses. Even if you're a stay at home parent, and your spouse earns all the income, consider the cost of child care, and your final expenses, should you pass unexpectedly. The best part about Term Life Insurance is that it's super affordable. It's also the best way to get a large policy for a little amount of money. You can often afford 10x the coverage with a term policy vs. a permanent policy.
Term insurance policies provide affordable, temporary coverage. This product is good for a certain term that you determine up front. The premiums are level for the time frame of your policy, for example 10, 15, 20, 30 years and will remain in effect for the duration of that period.
What is Return of Premium (ROP) Term Life Insurance?
You'll pay extra for a regular Term Life Insurance policy, but if you don't die after the guaranteed term period is over, you'll get back the money you paid in for the policy (the Insurance company invests your extra premium for capital growth, enabling them to return your premiums to you at the end of the premium period).
Who should buy Term Life Insurance?
Anyone who has a spouse or children that depends on them for any kind of financial security, including paying only part of the living expenses. Even if you're a stay at home parent, and your spouse earns all the income, consider the cost of child care, and your final expenses, should you pass unexpectedly. The best part about Term Life Insurance is that it's super affordable. It's also the best way to get a large policy for a little amount of money. You can often afford 10x the coverage with a term policy vs. a permanent policy.