Insurance Advice | InsuranceAdvice.com » term insurance

How Much Term Life Insurance Do You Need?

Mon, 03 May 2010 15:31:40 +0000

So you’ve probably seen some commercials lately about how term life insurance premiums are at historically low levels and you should take advantage of those lower prices now. But first, here is a quick tutorial and advice on why you should have life insurance before discussing how much an individual should own. So what is term life insurance? A term life insurance policy is one that has a set time frame on the coverage period – anywhere from one to thirty years – and when it reaches the end of that term, you can decide whether you’d like to renew...

Types of Life Insurance

Wed, 18 Feb 2009 21:37:39 +0000

There are six basic types of life insurance: 1) Term: Term life insurance is the simplest kind of life insurance because it pays if death occurs during the term of the policy, which is usually from one to 30 years. There are two kinds of term life insurance: Level term means that the death benefit stays throughout the duration of the policy, and decreasing term means that the death benefit drops in one-year increments over the duration of the policy. 2) Whole life/permanent: Whole life or permanent insurance has a level premium and pays a static benefit whenever you die. For...