Скачать или смотреть What is term life insurance?

So, what is term life insurance? Term life insurance covers a set period—typically 10, 20, 30, or even 40 years. If the policyholder passes away during that time, the insurance company pays a lump sum to the beneficiaries. This payout can help cover expenses like a mortgage, education costs, or other financial needs, ensuring your loved ones are supported after you're gone.

One of the main perks of term life insurance is its affordability! 💰 Since it only covers a specific period, the premiums (monthly or yearly payments) are often much lower than other types of policies like whole or universal life insurance. However, it's important to remember that term life doesn’t build cash value over time. Once the term ends, so does the coverage—unless you choose to renew it, which may come with higher premiums.

🧐 Who is term life insurance ideal for?

• Parents with young children
• Homeowners with a mortgage
• Anyone looking to provide financial protection during crucial life stages

Many choose term life insurance to secure financial stability while raising a family, paying off debts, or navigating other significant life events.

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For more detailed information, check out our term life insurance guide: https://www.annuityexpertadvice.com/l...

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