Term insurance sentence example
As the name implies, term insurance is designed to provide coverage for a set period of time only.
Most insurers offer term insurance at a set rate for a period of five or 10 years.
Geico offers term insurance coverage through Life Quotes, Inc. This type of protection is an economical way for policyholders to protect their loved ones if tragedy strikes.
Short term insurance is sufficient for travelers who are simply vacationing or staying for a brief time at an international location.
Your beneficiaries can only collect on term insurance if you die before the policy expires.Advertisement
When you purchase this type of term policy, you have the right and option to convert your term insurance to permanent insurance.
If you purchase a decreasing term insurance policy, your premiums remain level throughout the term.
This is a relatively new type of term insurance policy.
A service member can convert their VGLI term insurance policy to a commercial permanent policy at any time.
One limitation they will have is the duration of term insurance that they can buy.Advertisement
Do you need life insurance to cover a mortgage or definite fixed obligation which might best be addressed with term insurance?
Whole Life Insurance is a form of insurance that combines the benefits of term insurance with a "cash value" - or savings portion - of the policy.
Short term insurance is not appropriate for every situation.
Retirees may also benefit from short term insurance if they need coverage until they are eligible for Medicare.
In fact, you can often decide between short term and long term insurance when buying a package.Advertisement
Whole life insurance has a relatively high premium early in life compared to term insurance policies.
In the short run, term insurance offers the most bang for the buck for your insurance dollar.