Crisis and Management

One of the first thoughts the term ‘insurance’ evokes in many is ‘expensive.’ However, they may not fully realize that there exists an affordable alternative to permanent life insurance. That alternative is term life insurance.

Permanent life insurance combines an investment policy with life insurance, whereas a term life insurance (TLI) gives you the latitude to choose the coverage amount and length of the policy, and allows You pay a low monthly premium. Your coverage may range in term lengths such as 10, 20 or 30 years, and amounts anywhere from $100,000 to several million.

You also have the added benefit of investing your hard-earned money yourself, rather than having an insurance company do it for you, as is the case of whole life insurance. TLI is also good for short term needs. If you’re a parent, you could buy a TLI policy that expires after your children graduate, so that education will be completely paid for should anything happen to you. Homeowners stand to gain from a TLI policy that matches the length of their home’s mortgage.

This entry was posted on Thursday, December 27th, 2007 at 3:33 pm and is filed under Insurance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.