Term Life Insurance
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Term Life Insurance Information
Term life insurance agency in Pasadena, California.
Term life insurance is one of the most important financial tools someone can buy to protect their loved ones. Whether you are seeking to protect your family's home, a business loan, educational plans or key business personnel, term life insurance can help with a tax-free benefit to your beneficiaries at the time they needed most.
What is term life insurance?
Term life insurance provides coverage for a certain period of years in exchange for a premium. If the insured dies during the time the life insurance policy are in force, a death benefit will be paid out. Term life insurance is the cheapest product a consumer can purchase to protect his loved one.
What are the benefits of term life insurance?
Term life insurance provides a fixed premium for the number of years you choose to be covered. Most companies offer certain periods of coverage, 10 years, 15 years, 20 years and 30 years. This is the best way to provide coverage for your loved ones if you are on a tight budget. The most important benefit of life insurance is that if the death benefit is paid out to the beneficiaries, it is paid without them having to pay any taxes.
What is a rider for a term life insurance and what type of riders are available?
A rider in a life insurance policy adds benefits but also increases the premium that the consumer has to pay. There are many riders available and below are some that a term life insurance policy can offer.
- Return of Premium: Traditional term life insurance policies provide a death benefit but do not build cash value like permanent insurance. With the return of premium rider, the life insurance policy will return all premium paid after the term is over.
- Waiver of Premium Disability: This rider covers your premium in case you became disabled.
- Accidental Death: This rider pays an additional death benefit if the death results from an accidental bodily injury.
- Accelerated Death Benefit: This rider allows the individual to have access to his death benefit if the insured is diagnosed with a terminal illness.
These are just a couple of rider that might be available.
Reasons why someone might need term life insurance?
- Income Protection: One of the main reasons to buy life insurance is to provide income protection for his beneficiaries. The death benefit should replace the income the insured made on a yearly basis for the entire life of his beneficiaries.
- Home Mortgage Protection: This provides a solution for a family that has a mortgage on their home. The beneficiaries would receive the death benefit and then they would pay off the mortgage.
Get started today!
Are you wondering how much term life insurance would cost you? Fill out a quote form today, and let our agency find a policy for you. All it takes is a few minutes to provide your family with years of financial protection.