TERM LIFE/TEMPORARY

Term insurance is intended to fill a need for a specified period of time (a term) after which the insurance will no longer be needed, for example, to cover the balance due on a home mortgage should the breadwinner die prematurely. Term policies are generally available as annually renewable plans (where premiums increase each year) or as level premium plans for a fixed number of years, e.g., 20 years. Term plans are strictly death benefit policies with no investment or savings aspect included.

Term policies are inexpensive relative to permanent insurance plans that charge higher premiums, and thus are typically the most frequently purchased type of life insurance. With the advent of the Internet, a number of firms offering online term quotes have sprung up. While useful, these firms may simply quote the best available rates from several insurance companies, rates for which you personally may not qualify. Don’t forget that life insurance requires that you be medically underwritten and that your health history, current health, and other factors will be evaluated in determining your actual risk class, and thus, your premium for the coverage.

Contact Northwest Financial LLC to obtain term quotes from multiple quality life insurance carriers, quickly, and at no charge to you.