September is Life Insurance Awareness Month. It is the perfect reminder to review your coverage and think about how best to protect your family’s future. One of the most affordable and straightforward options available is term life insurance.
What Is Term Life Insurance?
Term life insurance provides coverage for a set period of time, often 10, 20, or 30 years. If something happens to you during that term, your beneficiaries receive a death benefit that can help cover living expenses, debts, education costs, or final expenses. Once the term ends, coverage stops unless you choose to renew or convert it to a permanent policy.
Why Choose Term Life?
Affordability – Term life is typically the least expensive form of life insurance, making it easier to fit into your budget.
Simplicity – It’s straightforward, with no complicated investment or cash-value components.
Flexibility – You can choose a term that matches your family’s needs, like covering a mortgage or supporting children until they’re financially independent.
Peace of mind – Knowing your loved ones would be protected if something unexpected happens during critical years.
Cost Factors to Consider
Your premium is based on several factors: primarily your age and health, but also tobacco use, driving record, family medical history, and lifestyle choices. The younger and healthier you are when you buy, the lower your premiums are likely to be.
Why Now?
Life Insurance Awareness Month is the ideal time to act. Locking in a term life policy now ensures you’ll pay less than if you wait, while providing immediate protection for your family.
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