How will your family carry on if something happens to you? There are various ways to protect your loved ones if you die. Term life insurance may be a key part of that plan.
Term life insurance is pure insurance with no cash value account. You determine for what length of time (“term”) you want coverage; a typical term is 10 or 20 years. A term life policy does one thing: It pays a specific lump sum to whomever the insured designates if the insured dies during the term of the policy.
The death benefit and the policy limit are always the same. For example, a $200,000 policy pays a $200,000 death benefit. The benefit can be used to help your survivors adjust to the financial impact of losing an income stream, cover burial expenses, pay off debt, etc.
To determine if term life insurance is right for your needs, call Ostrowski Insurance Agencyfor a quote; call 651-702-0163.
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ways to protect your loved ones if you die. Term life insurance may be a key part of that plan.