Term Life Insurance: What Is It And Why Invest?

Many individuals purchase a life insurance policy merely as a death benefit, or as a response to such life changing events as getting married or having a child. Because many individuals purchase life insurance when they are still young and very healthy, the favorite choice is usually the simplest — term life insurance.

As the simplest life insurance option, term life allows the insured to obtain coverage affordability over a specified period of time (usually 10, 15 or 20 years). The premiums remain low throughout the coverage period, and coverage can often be renewed at a higher premium without the insured providing evidence that he or she remains in good health. Of course, if you pass away during the coverage period, your designated beneficiary receives the death benefit; those funds can be used to pay for higher education or to keep the family business afloat.

What many life insurance customers may not understand is that at the end of the term, the term life policy can also be converted to a permanent life insurance policy. Permanent life insurance policies build cash value (which you can borrow against when you need it) and earns dividends.

Warrior Insurance and Services Group has been assisting customers in both Texas and Colorado in getting the life insurance needed to protect their families. For a no-obligation consultation with one of their experienced insurance professionals, contact Warrior Insurance today!

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