Understanding all the different kinds of life insurance can seem daunting at first, especially if you’re new to life insurance. That’s why many people opt for term life insurance, which suits many types of people, including those who are on a budget and are fine with temporary coverage.
Partners Insurance & Financial Services Inc. in Huntington, WV is here to guide you through this important insurance coverage.
Here are three benefits of term life insurance:
- More affordable – On average, term life insurance policies are less expensive than whole life policies, since they provide coverage for a certain amount of time. If the policy expires during your lifetime, your beneficiaries won’t receive the death benefit. Because of the lower amount of risk your insurance company takes you, you can benefit from lower premiums. Whole life insurance policy premiums are higher since they pay out no matter when you die.
- More flexible – You have a wealth of options determining how long your term life insurance policy should last. Typically, you can buy coverage that lasts between 1 and 30 years. If you have coverage that lasts for 1 or 5 years, you can use it to help cover current expenses, like your child’s tuition, or short-term debts. A longer-term policy, like a 30-year term, can help cover bigger payments, like your mortgage.
- Simpler – Because term life insurance is generally easy to understand, shopping for a term life policy and comparing quotes is quite simple. As long as your premiums are paid for, you’re covered throughout your policy’s duration. You only have to make three key decisions: how long you want your coverage to last, how much term life insurance coverage you need, and which insurance company you want to do business with.
Contact Us Today
If you’re in the Huntington, WV area and are exploring your life insurance options, Partners Insurance & Financial Services Inc. would be the perfect insurance company for you. With over 30 years of experience, our skilled and knowledgeable agents are committed to providing you with customized insurance protection at competitive rates.
For more information about how we can help you and your family, give us a call and we’ll let you know about your coverage options.