Term Life
Features of Term Life Insurance:
- Lowest premiums of all insurance types, therefore perfect for families on a limited budget.
- Insurance coverage for a limited period of time to meet all your temporary insurance needs.
- Now also available combined with critical illness insurance in one package.
- You could qualify for lower premiums if you live a healthy lifestyle and are in good health.
Major uses of Term Life Insurance:
- Buy-Sell agreements for business partners, such as partners taking out term life insurance on each other to continue the business in the event of one partner's death.
- Pay down the mortgage or other loans if one's spouse dies.
- Provide a lump sum of money for family to continue living a similar lifestyle after you are gone.