Brian Gruss Licensed Insurance Planner

Why buy term life insurance instead of other types of life insurance.

Simple answer is because term life insurance is the purest and simplest form of life insurance. If you pay the premium “the company” will pay the death benefit. And as long as your term life policy is a level policy your rates will not increase in the term policy, they will stay the same for that same term. Term insurance coverage is not just less expensive than a traditional whole-life policy. It’s substantially less expensive. For example a 35 year old male in the state of Washington can get a $200,000 20 year term polcy for around $12/mo.  Whereas that same $12/mo. would buy about $1445.00 of death benefit.  As you can see often, the difference in premium is thousands of dollars per year, and tens of thousands of dollars over one’s lifetime. Talk with your agent Brian Gruss today and see just how inexpensive a term policy is.  Even if you already have a term policy, let’s take a look at it, right now term rates are the cheapest then they ever have been.

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Term life insurance offers some distinct advantages. For example, monthly premium rates are relatively low (for young, healthy individuals) and the amount of coverage and beneficiary payout, in the event of your unfortunate passing, is often quite high, relative to the amount you are required to pay in. Term Life Insurance, as the name implies, is a type of insurance that is guaranteed for a certain amount time (policy term). For example, if you purchase a 20 Year Term Life Insurance policy , and you die within 20 years, your beneficiary will get the policy face amount. Term life insurance policies can be purchased for 5, 10, 15, 20, and 30 year terms, depending on the needs of the purchaser and the beneficiaries. Many people purchase this type of life insurance to protect their family while children are growing up or before they have reached retirement.

Term life insurance is considered pure insurance protection, and as the original form of insurance, it doesn’t build cash value. The reason for developing this type of insurance was so that people on a limited budget could get thousands of dollars in protection. Term life insurance is perhaps the simplest form of life insurance. It was developed to provide temporary life insurance protection on a limited budget. Term life insurance, which is usually the least expensive form of life insurance, pays a death benefit to your beneficiary or beneficiaries if you pass away while the coverage is in force. If you outlive the term and don’t renew your life insurance policy, or if you stop paying your life insurance premium, your life insurance coverage is terminated and no death claim will be paid out.

Term life insurance is an ideal insurance product for the financial responsible persons who do not have sufficient money to purchase other high premium policies outright. A prospective student who has taken an education loan can purchase term life insurance during the course of study. Term life insurance rates have been dropping steadily over the past 10 years in response to increased competition. Brian will help you get the best term life insurance policy at the best rate by comparing hundreds of life insurance policies for you all in a matter of minutes.

Call today 509-218-7329

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