If you’re shopping for life insurance, you may be overwhelmed with the number of options available to you. If you’re looking for an affordable option to provide a death benefit in the case of your untimely death, term life insurance or permanent life insurance may be great options. Let’s take a look at what they include and which is right for you.
What is Term Life Insurance?
Unlike other, more complex products, term life insurance is the simplest form of life insurance on the market. Available in 10, 15, 20, 25 and sometimes 30 year terms, these policies provide the basic financial protection your family might need. Term life policies are intended to help with the financial expenses your family would face if you were to pass away during the term of your policy. Many families use term life insurance benefits to pay off mortgage loans, cover final expenses, help with college tuition and cover other outstanding debts.
As you consider just how much term life insurance you might need, we encourage you to use our life insurance calculator. Simply provide some basic information, and the calculator does the rest.
What Does Permanent Life Provide that Term Does Not?
Permanent life insurance products pay a death benefit at the time of your death – regardless of age – as long as you maintain your policy. With permanent life insurance, you have the option to grow the death benefit over time as cash value is accumulated in the policy. These policies are attractive to those looking for life insurance protection coupled with an investment opportunity.
Determine if Term Life Insurance is Right for You
Only an experienced life insurance professional can help you determine if a term life insurance policy is right for you. At IntelliQuote, we proudly employ a team of the most experienced and knowledgeable life insurance agents in the industry. As an IntelliQuote customer, you will work directly with a dedicated advisor who will take the time to understand your situation and help determine if a term life insurance policy is right for you. Ready to get started?
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