Term life ins. What is this type of life insurance all about? How can it help you?
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Term life is temporary life insurance.
That means you may own and are covered by your policy for a given
number of years. Someone else may also own a policy on your life. A
husband or wife may own a policy on his or her spouse. A business may own a policy on a shareholder, partner or key employee.
Term insurance is purchased for a specific number of years; 5 years, 10 years, 15 years, 20 years, 25 years or 30 years. Some go to a specific age; age 65 for example.
Usually the premiums are level, they do not increase. The face amount is usually level as well except in the case of the decreasing term policy which is used to cover the balance owed on a mortgage. In this case the face amount decreases as the balance owed decreases.Term policies
are payable on the death of the insured. These policies are used to protect families. They replace the income lost by the death of the breadwinner. They fund buy sell agreements and they provide cash to a business if a key employee should die.
No Medical Exam Life Insurance. What is going on here? Is this new? The way people act one would think that this is an entirely new idea.
Consider online life insurance. Buying life insurance online can be quite a simple process especially if you know how much you want and what type.
There are many pages on this website on term insurance details and how it works. What I want to do on this page is give you a basic and general outline of this policy.
You may find it a valuable experience as well as enlightening if you took some time to get a term life insurance quote on your favorite term policy.
Key employee life insurance is really a necessity.