The simplest and least expensive form of life insurance
coverage is term life insurance. It provides death
benefit coverage at a guaranteed premium for a specific
period of time - usually 10 to 30 years depending upon
which product you choose.
Since premiums are low as compared to other types of
life insurance, term life insurance is ideal for new
families seeking economical protection.
While term life insurance doesn't include the
ability to accumulate cash value, it can help a family
maintain its lifestyle, cover college tuition and pay
off a mortgage in the event of the insured person's
death.
Who should consider life insurance?
Younger individuals and new families
Those seeking additional, inexpensive coverage to
complement existing policies
Someone seeking short-term coverage - for example, to
qualify for a business loan
Key benefits:
Affordability - for younger policyholders, it's
the least expensive life insurance coverage
Low risk - you know exactly what you're getting
with term life insurance
Adaptability - many policies allow you to convert to
universal life or whole life insurance policy at a later
date
How term life insurance differs from other life
insurance policies:
Provides protection only during the term of the policy,
then the coverage ends
Offers a death benefit only; does not allow for cash
value accumulation
Has a low premium that is guaranteed for a selected
period. At the end of the stated guaranteed period,
premiums generally increase significantly to keep the
policy in effect.
RJP INSURANCE GROUP
RASHAUN PAGE
PRESIDENT
WWW.RJPINSURANCEGROUP.COM
212-591-1292 LOCAL
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