Monday, 28 October 2013

Want Term Life Insurance, But Worried About Getting Your Money’s Worth?


Want Term Life Insurance, But Worried About Getting Your Money’s Worth?

guide-to-select-worthy-term-insurance-policiesMany consumers who are considering whether to buy term life insurance are concerned about getting their money’s worth on a policy. There are so many different types of life insurance – term life insurance, whole life, universal life and more – that it can be a little intimidating.

Consumers who are looking to buy term life insurance or another form of income- replacement protection may have concerns about what they are getting for their money and if they are getting the best deal. Especially in today’s tougher economic times, when millions of American families are watching their spending more than ever, who wants to spend their hard-earned money on products or services that are not a good value?

Deciding to buy a term life insurance policy can be a sound financial decision that helps protect your family’s financial future for years to come. A term life insurance policy may be reliable protection for your loved ones in the event you die.

For example, term life insurance proceeds can be used by your surviving beneficiaries to cover living expenses such as a mortgage, college tuitions, or to pay other bills and help a family maintain the standard of living they have enjoyed.

Recent Study Finds Consumers Struggle With Buying Term Life Insurance

A 2011 study by LIMRA, a life insurance marketing and research association, determined that some consumers are unsure about buying term life insurance, including:

· Getting their money’s worth
· Understanding details of the policy
· Deciding what type of life insurance to buy
· Determining how much life insurance coverage they need

Answers to Questions About Buying Term Life Insurance

As a consumer, you may have questions about term life insurance. You might even wonder if buying a term life policy is a good financial decision for you and your family.

Life insurance, unlike most other products or services, is something most of us buy and hope we’ll never use. But having a term life policy in place can give you that added peace of mind and knowing that your loved ones will have financial help in the event you die.

Author bio: This article written Dan Mackelburg. Dan is working for Matrix Direct, a licensed term insurance company. He loves to help customers in term insurance policies and able to contact on his toll free number (800) 914-8376 for free consulting on tern insurance matters.


1 Creative Comments are Rare Specious. Try One::
Seth said...
I recently just helped my buddy who is a JMO (Junior Military Officer) pick a term life insurance policy. I am not an agent, but have a background in finance, and thought I could be of some help to my friend. I personally, have not had the chance to look into health insurance for myself (single, and no dependents). But when I was looking, and helping my friend I was surprised with the amount of questions I had after looking over different policies. He decided on a term life insurance policy for a period of ten years (this took him a few years beyond his commitment to the military). I cannot stress enough to everyone out there that you need to DO YOUR HOMEWORK. We got him about 500,000 dollars in life insurance on top of his SGLI coverage at 400,000 dollars (that's 900,000 in total coverage fyi). Bottom line, no question is to stupid when deciding policies, and don't think your agent won't know, believe me they have heard it all! Thank god there's people like you, great article!

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