Term Life Insurance

When searching for life insurance, it can be difficult to figure out exactly what kind of life insurance is needed to protect you and your family. One of the most common types of life insurance is term life insurance. We will discuss five benefits of term insurance and why it might be the best option to protect your loved ones. 

What is Term Life insurance?

Term Life Insurance is a simple form of Insurance that covers you over a set amount of time. Most times these policies are level premiums meaning the payments remain constant over the course of the policy. 

Five Benefits of Buying Term Insurance 

-  Most affordable

The first benefit is that term insurance is the most affordable. Insurance coverage does not have any investment features so you are only directly paying for the death benefit. However, it is important not to wait on buying life insurance. On average, term policies increase 8-12% every year a customer waits to purchase coverage. 

- More coverage

Most customers need between 10x and 20x of their household income in a life insurance policy and term insurance is the cheapest way to buy high amounts of coverage. More coverage may be required if a customer has a large amount of outstanding debt or is a homeowner as well. 

- Simplicity 

Term Insurance is the simplest form of insurance because the premium goes directly to playing the death benefit. As long as the premium is paid, the insurer will pay the claim during the policy term. 

-Locked in 

Term policies are locked in. The premium is level meaning the payments will stay the same over the term of the policy. The policy can not be canceled if there are any changes in your health or you develop a terminal illness. As long as the payments are made the policy will not change until it expires. 

-Additional riders

Many additional features may be added to term policies. Here are some common options.

• Return of Premium Rider: At the end of the term, all premiums paid are returned to the policy owner. 

• Accidental Death Rider: In the event of the insured death being an accident, an additional amount is paid to the beneficiary. 

• Waiver of Premium Rider: Premium will be waived if the insured becomes permanently disabled. 

• Guaranteed Insurability Rider: This rider allows the insured to purchase additional insurance without having to go through medical exams or screenings. 

Term Insurance provides many benefits and access to high coverage limits to customers so they can adequately protect their loved ones. Term Insurance is Endurance Life Insurance’s most recommended product. With access to over 100 companies, we shop the Georgia term market for reputable companies at the lowest prices. 

Click here to apply online for Term Insurance in 10 Minutes with Ethos. Ethos does not require medical exams but their applications contain certain health questions.