Did you know that term life insurance offers an affordable and flexible way to protect your family financially, covering outstanding mortgage payments if something happens to you? Get a quick and hassle-free estimate with our Policygenius calculator.
WHY TERM LIFE INSURANCE?
Flexible Death Benefit – Term life covers everything
Your beneficiaries can use the death benefit for any expenses — not just mortgage payments. Once your mortgage is paid off, your beneficiaries can use the tax-free death benefit to pay for daily expenses like food or bills.
Affordable premiums – Term life doesn’t break the bank
Compared to other types of life insurance, term rate can cost less. A healthy 30-year-old getting a term life insurance policy can expect to pay about $26 in monthly premiums for a 20-year, $500,000 policy as of July 2023.
Sufficient coverage – Term life offers high benefit amounts
Term life insurance can provide death benefits up to 30 times your income. One way of estimating how much coverage you need is to use your outstanding mortgage as a guideline. This provides your loved ones with financial security to be able to address mortgage payments and other outstanding costs.
Long term lengths – 10-40 year terms
Term life insurance is one of the most popular types of life insurance available because it’s straightforward, affordable, and lasts as long as you choose!
Interested in learning more? Contact us directly at (630) 441-1003!
