Term Life Insurance

Term Life Insurance

When you purchase life insurance, Denver agents will help you to sort through your options and choose the one that is best for you to guarantee that you family, or business will be looked after when you are no longer here to look after them yourself. There are a few different options available for your consideration in regards to life insurance, and one of them is term life insurance.

What Is Term Life Insurance?

Term life insurance is an insurance that lasts for a pre-determined amount of time, or term. Generally term life insurance policies last 10, 15, 20, or 30 years. During the course of you term life insurance policy the rates are locked in and can not go up. If you should pass away during the time when your term life insurance policy is in effect than your beneficiaries will receive a cash benefit, called the death benefit. If you outlive your term life insurance policy you will have the option of renewing your coverage for an annual amount that will be much higher than what you were paying and will increase every year when you renew.

Why Choose A Term Life Insurance Policy?

Term life insurance policies are inexpensive and therefore are a good choice for young families and families that have only one working parent. They are also a good choice for people who already have a life insurance policy who wish to supplement their current policy. Many people choose term life insurance policies because it allows them to have coverage from the time that their children are young until they are financially independent. Term life insurance also allows people time to pay off their mortgages. If you have a health problem a term life insurance policy will allow you to convert your term policy over to a permanent policy without having to get an additional medical exam. And the beneficiaries that you name on your policy will not have to pay taxes on the death benefit that they receive.

Your life is busy and there are many things to consider when purchasing a life insurance policy. As you age, your lifestyle and financial needs will change drastically. As a result, your insurance needs will also change. A term life insurance policy should meet your needs in the future just as much as it does on the day that you purchase it.

When you buy Colorado insurance, it doesn’t have to be complex. At Denver Insurance we have the best Colorado insurance rates and friendly and professional agents available to answer all your questions. Call to speak with a helpful Denver insurance broker today.

 

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Denver, CO 80211

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