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Discover the Advantages of Term Life Coverage

Temporary policies have several distinct advantages over whole life, or permanent life, policies. We've enumerated a few of these advantages below.

  • Affordable premiums. The premiums for these types of plans are considerably lower than those of whole life policies. With a temporary plan, you are not funding investments with your premiums like with permanent options.
  • More bang for your buck. Because affordable term coverage is so much cheaper than permanent offerings, policyholders can purchase much larger amounts of protection for less money. If you have major coverage needs but are on a budget, this type of plan is an excellent fit.
  • Increased cash flow. The lower premiums will free up money in your monthly budget that you can use as you see fit. You can use this money to pay off debt, save, or invest.
  • Practicality. One of the biggest disadvantages of a permanent plan is that it lasts for the duration of the policyholder's life, even though such extended coverage is probably unnecessary. The bottom line is that most people simply do not need protection that lasts until they die; they only need it until their dependents become self-supporting. With a temporary plan, you have the flexibility to purchase protection for only as long as you need it.
  • Lady in green dress using laptopLess complex. Permanent plans have complicated features that are beyond the understanding of the average consumer. The policies our partners offer, however, are much easier to understand. Consumers don't have to grasp complex concepts like annuities, tax deferments, and funding options.
  • Less risk. With a permanent offering, your premiums will be invested as the insurer sees fit, and there are no guarantees. In other words, when you select an investment-based option, you are also accepting a certain amount of risk. Term premiums do not require any such risk.
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