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Your Guide to Term Life Insurance

Your Guide to Term Life Insurance

Your Guide to Term Life Insurance

Term life insurance doesn’t have to be as difficult as you think it is.

Thinking about term life insurance can be rather depressing because it means coming to terms with your own mortality. But, everyone has to do it at some point and the earlier the better. Especially when you have a family that depends (even partly) on you for their finances—you have to put their needs first before your philosophical quandaries. Should the unthinkable happen to you, will your family be able to support themselves financially in the present, and in the future? If you’re unsure about life insurance, take a minute to learn about the benefits of term life insurance and what it can do for you and your family.

What is term life insurance, anyway?

We’ve said “term life insurance” at least 4 times without giving it any explanations. So here it is: term life insurance is a type of life insurance which offers the all the benefits of life insurance, but only for a specific amount of time—typically 10, 15, or 20 years. Term life insurance is typically less expensive than whole life insurance and is why the majority of life insurance policyholder opt for this kind of insurance.

Should you pass before your policy expires, your beneficiaries will receive the pre-specified amount, called a death benefit. Term life insurance can also be convertible or renewable. A convertible policy means that it can be exchanged for a whole life insurance (as the name implies, it lasts your whole life) of equal or lesser value, while a renewable policy can be renewed or extended for additional terms.

Take note, however, if you pass even a day after your policy terminates, your beneficiaries will receive $0.

For help finding the right life insurance policy, and an expert to guide you through the deeper legality differences between term and whole life policies, contact Remland Insurance in the City of Orange. We will work with you to find the right policy that will meet the needs of your family, all at the right price.

COVID-19

The COVID 19 virus has certainly changed our lives for the short term both at home and at work. Our office is working in compliance with state and local officials and their request to minimize contact with others for the short term so that we can shorten the life of this virus.
As such, our offices will be available by phone or by e mail 8-5 Monday thru Friday. If you need to make an appointment to come by, please call us before you drop by, so we can reduce risk, and take care of our staff and just be safe.
Please don’t hesitate to call us and if for some reason you can’t reach us, please look at our website for carrier contact information. Thank You for your continued business.

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