Plan for a bright tomorrow!

Plan for a bright tomorrow!

Art Glasgow – Peck-Glasgow Insurance

Understanding Term life insurance is the first step in understanding the need to purchase life insurance.  Term life is perhaps the simplest form of life insurance.  As the name implies, it provides protection
for a specified "term" or period of time and generally pays a benefit only if you die during that period.  Most commonly, the premiums remain level and are guaranteed.  If you are living at the end of the guaranteed period, protection ceases unless the policy
is renewed.

One advantage to term life insurance is that the premium for term life insurance is intially lower than a comparable permanent life insurance policy, such as universal life or whole life.  This initial
lower premium usually makes term life insurance an ideal choice for individuals with a temporary need for life insurance.

Most term life insurance policies have no cash value making it ideal if you are interested solely in a death benefit.  If your needs change, conversion to a permanent policy is often a viable option. 

When should you choose term life insurance?  A primary reason is when you are just starting out, or have limited funds.  Another reason to choose term life insurance is when you have a temporary need for
coverage, such as to cover a debt over the period of repayment.  Covering Education expenses for your family is another reason to choose Term life insurance.  Finally another good reason for term life insurance is when you are a small business owner and want
to plan for business continuation.  Reasons are to cover a key employee, pay off business loans, or to provide funds to redeem stock from a deceased stockholder.

Discuss your insurance needs with a professional that has your interest at heart.  Professional risk planning is worth the time to discuss your needs.  Term life insurance is not expensive.  Do your loved
one’s a favor and get a quote today!