When choosing term insurance, your first step is to determine how much coverage your family needs. Below is an explanation of the different options for protecting your income, mortgage, debt, and financial security with term insurance.
Term-20 insurance can offer added peace of mind where protecting your family is concerned. Term-20 provides coverage at a fixed premium for 20 years, making this insurance ideal for mortgage protection. Consider a 20-year term insurance policy if you:
Flexible term insurance plans are growing in popularity. These plans allow you to choose any term between 10 and 40 years, based on your family’s protection needs.
Think long-term when shopping for term insurance. Many people underestimate how much coverage will be needed to protect loved ones, their mortgage, and other debt. As you age, you’ll face higher premiums - especially if your health changes. If you think you’ll still need coverage 10, 20, or 30 years from now - and you probably will - consider a Flexible Term Insurance policy, which will protect you throughout your most productive years