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Why should I buy life insurance?



Life insurance is a financial safety net for your loved ones. The purpose is to give your beneficiaries money if you die unexpectedly. This money can be used as they wish. The cash is usually used to help pay for mortgages, daycare and a funeral.

Life insurance provides specific coverage at an affordable price. It is ideal to use as protection when your family is most exposed to financial struggles. For example, the years you raise children. Or the years you and your spouse pay off a mortgage.

Think about what happens when a breadwinner dies. A paycheck disappears, maybe even the family's health insurance. But bills go nowhere.

Buy a life insurance policy as a financial security cover during the years when your salary really matters and makes a significant difference to your family's standard of living.

The Cost of Term Life. Insurance

Life insurance can be customized to fit most budgets. In addition, lifetime insurance has level premiums. This means that when you buy your insurance, the price you pay is locked in throughout the term. As long as you keep your insurance in force by paying your premiums on time, your premium amount will never increase, even if you are diagnosed with a serious medical condition.

Coverage terms range from 1

0 to 40 years, depending on age. by the insured person. All length options are available if you are 45 years or younger. When you turn 46, that's when the restrictions start to take effect.

The longer the term, the higher the monthly premiums. See the table below for a price example.

The coverage amounts also vary greatly depending on your needs. The coverage amount is the dollar amount that the insurance company would pay out to your beneficiaries if you died during the semester.

The coverage can be as low as $ 100,000 to over tens of millions. Because you lock in your pricing, we recommend that you purchase as much coverage as you can afford.

The more coverage you purchase, the higher your monthly premiums will be. See the table below for a price example.

Your age is one of the biggest factors in determining the cost of life insurance. Buy life insurance as soon as you realize you have a need for it.

When you buy a life insurance, you lock in your price for the entire term. Based on the table above, a 35-year-old man can buy a 30-year life insurance policy of $ 500,000 for under $ 35 per month. His premiums will never increase during the entire 30-year period.


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