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TermLifeInfo
Nobody wants their loved ones to suffer or face financial burden during one of life's most challenging times. Keep your promise. Provide your loved ones the financial security they deserve.
Contemplating our mortality can be a challenging pill to swallow, yet it's imperative for securing your family's future. Consider this: in your absence, who will ensure their well-being? Can your partner shoulder these responsibilities alone? And what about the impact on your children? Given these financial burdens, can you truly afford to remain unprepared?
Meet Patrick, a tax pro and a chartered financial consultant.
Patrick specializes in helping entrepreneurs and professionals build a tax-free retirement. With his proven track record, he can help you choose the ideal policy that suits your needs and calculate the right amount needed to secure your family's future.
Explore Patrick's specialties by clicking on the links provided.
What is a term life insurance policy?
A term life policy is a contract that provides the insured's beneficiaries with a sum of money when the inevitable happens. This form of coverage is specified for a set period and is the simplest form of life insurance a person can obtain. In most cases, term life policies offer a “leveled” payment structure that is less costly than other forms of life insurance such as a whole life or an indexed universal life policy.
Why do people get a term life policy?
Protecting your loved ones and ensuring their financial security is a priority. A term life insurance policy will afford your family their necessities in the event of your death. People obtain a term life policy to cover their final expenses. It is also used to offset other liabilities. After all you don't want your family and loved ones to suffer more during one of life's most challenging moments.
Think about the cost of living, mortgage, and existing debts. Most families today are reliant on two incomes if something should happen to you or your spouse how will you, or they provide for your family's needs? Aside from offsetting your current liabilities, a term life policy can be used for their future needs. Don't you want to make sure your child is able to obtain a higher education or possibly leave an inheritance for your family?
Advantages of a term life policy.
Disadvantages of a term life policy.
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Simple, flexible, renewable, and convertible.
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Lower premiums than permanent life insurance.
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Can be designed for specific needs.
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In most cases medical exams may not be required.
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Premium payments are more expensive after renewal.
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You can outlive your policy
Uncertain about term life insurance? Explore policies with cash value options.
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