Monrauch on Nostr: Term Life Insurance Term life insurance provides coverage for a specific period ...
Term Life Insurance
Term life insurance provides coverage for a specific period (usually 10-30 years) and pays out a death benefit to your beneficiaries if you pass away during that term. This type of policy is typically more affordable than whole life insurance, making it an attractive option for those on a budget or with temporary financial needs.
Pros:
* Lower premiums compared to whole life insurance
* Provides flexible coverage periods (10-30 years)
* Can be converted to permanent coverage later
Cons:
* Coverage ends at the end of the term unless renewed or converted
* Premiums may increase as you age
* No cash value accumulation
#MonrauchGroup #LifeInsurance #TermLife #WholeLife
Term life insurance provides coverage for a specific period (usually 10-30 years) and pays out a death benefit to your beneficiaries if you pass away during that term. This type of policy is typically more affordable than whole life insurance, making it an attractive option for those on a budget or with temporary financial needs.
Pros:
* Lower premiums compared to whole life insurance
* Provides flexible coverage periods (10-30 years)
* Can be converted to permanent coverage later
Cons:
* Coverage ends at the end of the term unless renewed or converted
* Premiums may increase as you age
* No cash value accumulation
#MonrauchGroup #LifeInsurance #TermLife #WholeLife