What to Consider When Choosing the Right Term-Life Insurance Policy

Term-life insurance is one of the most common and simple policy types available. The different options available can confuse many people who do not know which is best for them. Here are important factors to consider when choosing the best policy to suit your needs.

Essentially, term-life insurance policies are available in varying periods such as 10, 15, or 20 year periods. The timeframe you choose depends heavily on your needs. Many people who earn a high income choose terms that cover enough years until retirement age. For instance, if you are age 30 and want to protect your income until you can retire, you will need at least a 35-year term to cover the time in between. Aside from flexible timing options, term-life insurance offers a beneficial advantage that permanent policies do not.

If you have a term-life insurance policy and die suddenly, your loved ones or other named beneficiaries will receive compensation based on the face value of your policy, free of taxes. For more information on term-life insurance in Texas or Colorado, contact Warrior Insurance and Services Group for affordable rates and quality customer service.

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