Below are the advantages of buying term life insurance:
1) Term life insurance typically costs less than a permanent or universal life insurance policy.
2) You will have to pay for the term policy every month, which is cheaper and easier on your budget.
3) Term policies are not affected by inflation rates, so you are protected from unpredictable circumstances and even the high cost of health care expenses.
4) You can cancel your coverage at any point during the period with no penalty, so if you don’t need it anymore or want to try new things in the future, like traveling around Europe for a year without having to worry about healthcare expenses be sure that this opportunity exists before deciding what kind of insurance to get.
As a term life insurance policy holder, you will have the following benefits:
1) You could get a relatively higher death benefit than other types of insurance, which is quite useful and desirable; for example, if you buy a $100,000 term life insurance policy at age 25, your death benefit might be as much as $200,000.
2) Your premiums will be automatically renewed each year and you don’t have to worry about costly health insurance costs. And it's fairly easy to cancel your coverage at any point during the period without any problem.
3) When you cancel this insurance coverage, you will not get any refund, so it's a smart decision to try this out and see how much you like it; likewise, if money isn't a problem for you, then keep it up to the end of the term and enjoy your lifelong policy.
4) Larger death benefit could be less important for younger people who don’t have a family yet or aren’t interested in having children soon.
5) Term life insurance is usually cheaper than a permanent policy. As mentioned above, if the sum of your premiums amounts is $100 per month (or less), then your premiums will be more logical than if they were $100 per year.
1) Term life insurance typically costs less than a permanent or universal life insurance policy.
2) You will have to pay for the term policy every month, which is cheaper and easier on your budget.
3) Term policies are not affected by inflation rates, so you are protected from unpredictable circumstances and even the high cost of health care expenses.
4) You can cancel your coverage at any point during the period with no penalty, so if you don’t need it anymore or want to try new things in the future, like traveling around Europe for a year without having to worry about healthcare expenses be sure that this opportunity exists before deciding what kind of insurance to get.
As a term life insurance policy holder, you will have the following benefits:
1) You could get a relatively higher death benefit than other types of insurance, which is quite useful and desirable; for example, if you buy a $100,000 term life insurance policy at age 25, your death benefit might be as much as $200,000.
2) Your premiums will be automatically renewed each year and you don’t have to worry about costly health insurance costs. And it's fairly easy to cancel your coverage at any point during the period without any problem.
3) When you cancel this insurance coverage, you will not get any refund, so it's a smart decision to try this out and see how much you like it; likewise, if money isn't a problem for you, then keep it up to the end of the term and enjoy your lifelong policy.
4) Larger death benefit could be less important for younger people who don’t have a family yet or aren’t interested in having children soon.
5) Term life insurance is usually cheaper than a permanent policy. As mentioned above, if the sum of your premiums amounts is $100 per month (or less), then your premiums will be more logical than if they were $100 per year.
