Term Life Insurance

I think I am fortunate to be knowledgeable about life insurance. I used to work in one of the prestigious life insurance companies in the Philippines before I cam here in the USA. I learned and became well educated about different types of insurance. Different companies have different names of their insurance policies but basically it is either whole life insurance or term insurance.

Term life insurance covers you for a limited number of years. It provides life insurance coverage at a fixed rate of payments for a limited period of time. When the term ends, the coverage ends too and you either risked not being covered or purchase another insurance. If the insured dies during the term, the death benefit will be paid to the beneficiary.

Life insurance rates can be higher depending on your present condition. People who are considered to be a high risk will pay more. The rates of the insurance will also depend on your age. The younger you are the lower the rate will be. Anyway, term insurance is the most inexpensive way to purchase a substantial death benefit on a coverage amount per premium dollar basis.