Term Life Insurance - Who Needs It?
Term Life Insurance - Who actually needs it? Just about everyone can benefit from such a policy.
Because term policies are designed to eventually expire, they fit a need for a specific shorter-term need of 10-20-30 years. Consider:
- mortgage insurance,
- extra insurance while your children are young,
- guarantee for child support,
- coverage for small business loans, and
- buy-sell agreements for small business partnerships.
A benefit often overlooked is to purchase a policy for a young child. This guarantees insurability as they age and health circumstances change. Look for a policy that has an option for converting to whole life.
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