Term life insurance covers a specified time and amount. For example, you can set how long your term life insurance will last. Typically, coverage is set at 10, 15, 20, 25, or 30 years. During this specified time, you will be covered for an agreed amount. That is, for 10 years, you may be covered for $100,000 for example. This then will determine your monthly premium for these ten years. The premium amount is based on your age, your health (for insurance that requires a medical exam beforehand), and the length of time the insurance lasts.
So if you are a young couple with minor children you probably have been too busy to set up any kind of life insurance as you read this. Unfortunately, this is the case for many young families. You never think the unexpected will happen to you.
There is a safety net for societal stability, however, with social security providing for you and your young children, who will pay back the social security during their adult working years. It is a good way for taxpayer money to circulate and help young families.
You especially need to set up life insurance if you have become widowed or are a widower with minor children. You can set up your term life insurance for until your children reach adult age, when hopefully they will be able to fend for themselves and will no longer need to be beneficiaries of your life insurance.
So prepare now and get term life insurance. Go to this page for links to quotes.
Health by Category