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Benefits of a Term Life Insurance Policy

Term Life Insurance 101

Investing in the right life insurance policy is the best way to ensure that your loved ones have the financial cushion that they need after you are gone. When it comes to deciding which type of policy to invest in, you have two main options, a term life or a permanent life insurance policy. While permanent life insurance, also known as whole life insurance, is one of the most common forms of life insurance, there are also many benefits of a term life policy.

A term life insurance policy is meant to provide coverage for a certain amount of time. When you invest in a policy, you will decide how long you want your policy to be in effect, such as 20 years. If you pass away during the time that your policy is in effect, your beneficiaries will receive a payout. However, if you outlive your policy, there will be no payout for your dependents.

One of the major benefits of choosing a term life policy over a whole life policy are much lower premiums. Along with being much lower, the premiums for a term life policy will stay the same over the life of the policy so that you never have to worry about rising costs.

When deciding on how much life insurance you need, there are many factors to consider, including your debts, annual income, age of your children, and your assets. Working with an independent insurance agent can help to ensure that you invest in a policy that will provide the protection that you deserve.

Contact the insurance professionals at VantagePlus Insurance in Alhambra, California for all of your life insurance needs. We will work with you to ensure that you invest in the right policy to meet your specific needs, all at the right price.

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