What is Term Life Insurance?
Insurance Policy
Term life insurance provides coverage for a specific period of time, or "term" of years. If the insured person dies within the "term" of the policy and the policy is still in force (active), then the death benefit is paid out to the beneficiary. This type of insurance typically allows clients to initially purchase more insurance coverage for less money (premium) than other kinds of life insurance. Froy Life Insurance teaches working families simple money management concepts.
Life insurance acts as a substitute for income. Have you ever calculated how much you'll earn in your lifetime?People sometimes delay purchasing life insurance even though it exists to protect their loved ones' well-being – and they do so for several reasons. Death isn't something we like to think about. It's uncomfortable to consider what could happen to those who most care about you. Some people have the mistaken belief that there's no hurry. It's always something they can deal with tomorrow. But, none of us knows what tomorrow will bring.