If you are looking for term life insurance coverage, we may be able to help. Life insurance cover may help protect your beneficiaries in case the unthinkable were to happen to you. Term life insurance cover may also help give you some peace of mind in knowing that your beneficiaries may be helped financially if you were to die. Here are the most frequently asked questions we receive about term life insurance cover.
What does term life insurance cover? How is it different from what life insurance covers?
Term life insurance coverage covers you, and may pay your beneficiaries an amount if you were to pass away, for a set period of time or term. For example, a 20-year term life insurance cover will take care of you for 20 years. Whole life insurance, which is the other main form of life insurance cover, would cover you for your entire life. However, whole life insurance cover can generally be more expensive than term life insurance cover.
What are the advantages of term life insurance coverage, as opposed to whole life insurance cover?
Term life insurance coverage may be significantly cheaper than whole life insurance cover. In addition, you can take the money you save and invest it. While whole life has an investment component, you may generally not get to decide where the money is invested.
What else does term life insurance coverage offer?
You should choose term life insurance coverage according to you and your beneficiaries’ financial needs. For example, if you want to help cover your mortgage with term life insurance cover, you can get decreasing term life insurance coverage, which generally goes down as the mortgage is paid.
I would like to find out how to get term life insurance coverage. What can I do?
Fill out a term life insurance coverage quote form to find out what term life insurance may provide for you!