What is Term Life Insurance?
Term Life Insurance shouldn't be a mystery. It is actually one of the oldest forms of insurance. It basically is a policy which is set for a specific "Term", or period of time, let's say for example 10 years. During this period you pay a monthly premium which is usually fixed. If the term expires without claim, there is no cash value left over. You then have the choice to extend your Term Life Insurance for longer by paying new premiums or find new insurance. To learn more about Term Life Insurance, visit the website of IFG Insurance. They have a worldwide network of over 50 companies to find the best coverage and policy for you and your loved ones. With this size of network, IFG can minimize your insurance costs while finding the right term life insurance for your specific situation. All these factors make Term Life Insurance very affordable and usually holding the lowest premiums to pay. The opposite of Term Life Insurance is Whole Life Insurance which builds a cash value and lasts and entire lifetime (open ended). The difference is that with Whole Life Insurance your premiums will usually rise with age and are not fixed. This can make it a more expensive proposition. Visit IFG and learn all about your insurance options.
3 comments:
Good point, I have feeling term life insurance became a bit forgotten, at least here in Canada, but it's quickly returning back on the positions. Some people believe whole life is always more advantageous, but that's not true, to decide between whole and term life can be sometimes very difficult, both have pros and cons.
Interesting to know.
I agreed, Termlife is a good way to cover specific financial responsibilities like a mortgage or college expenses.
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