Term Life Insurance Basics
Term life insurance has become an attractive option for protecting your family at reasonable rates. There are many different term life insurance quotes policies available but how can you choose the right one? First, you should understand a little about what term life insurance is.
Term life insurance provides an affordable way to protect yourself and loved ones for a set period of time in case of death. This type of insurance does not build cash value like whole life policies but it does offer good coverage at reasonable premiums. In case of death during the term of the policy, the beneficiary collects the full amount of the policy tax free. These policies have become very popular for their low premiums and have recently become available in longer terms with some term policies being 30 years.
There are a number of advantages to buying term life insurance over whole life. The following pages outline some of the central elements to each type of life insurance and explains the advantages to each.