Term insurance is an affordable way to protect the ones we love.
Polices range from 1-30 years (usually 15-20) and are determined by the insureds need for funds if they had a premature death. Once that period or "term" is up, it is up to the policy owner to decide whether to renew or to let the coverage end. Premiums will be based on their attained age. Policies can also be converted to permanent insurance at the end of the term.
The amount necessary is determined by calculators and discussions about income, debt, expenses and personal preferences.
Premiums for term life insurance are based on a person’s age, health and life expectancy, as determined by the insurer. If the person dies within the specified term, the insurer pays the face value of the policy; if the term expires before death, there is no payout.
© 2018 by Reed Insurance Agency, LLC