TERM LIFE

There are special situations where life insurance is needed for a set period of time. Term Life, which is usually less expensive than Whole Life, is often for five, ten, fifteen or twenty years. It may includes a "conversion" provision, which means that it can be converted to Whole Life.

Term Life is appropriate for a parent who wants protection for their children until they are old enough to care for themselves. Mortgage insurance is needed only until the mortgage is paid off. As the amount of the mortgage decreases, the amount of the insurance needed decreases, and this often lowers the premium even more. "Key Man" insurance protects the business for the expected working life of major players in the company.

Looking for a low premium sometimes causes one to buy accidental death insurance, by accident. We have found many folks who think they have Life Insurance that only have coverage for accidental death. It is inexpensive because most people don't die in an accident, and these policies are sometimes very restrictive as to what constitutes a covered accident.

To check your insurance, call Nancy, 928-777-8736 or Ron, 928-717-8256, or E-mail us at quotes@weareinsurance.com. To learn more about related topics, go to Trusts or Final Expenses.

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