zTermLifeInsurance Blog
Tuesday, September 07, 2010
- 26
Jan
2010 -
Term Life Insurance: What’s Your Excuse?
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Usually, people purchase term life insurance in addition to their whole life insurance. However, there are certain times in your life when you might want to consider purchasing extra term life insurance.
Term life insurance differs from whole life insurance in that it is usually taken for a fixed period of time, and after the period, coverage stops. If there is no claim during the plan period, there is no payout to the plan holder at the end of the plan. It is a very inexpensive, convenient and handy plan for some periods in life.
Term life insurance works as great coverage throughout the period of your home mortgage. For most people, that is their greatest financial worry, and that extra coverage when the mortgage is on will ease the stress on the plan holder and his/her family. It is also great coverage when saving for a child’s college education.
Another period that term life insurance is extremely useful is when you are an expatriate. Your regular life insurance might not cover you for the full amount when you are living and working abroad. Such a period just cries out for international term life insurance, which can be purchased in the U.S., but is valid internationally. So, what’s your excuse?
