Why does term life insurance make sense? Is it a waste of money? When does it make sense for me? Am I too young to think about this? Am I too old to mess with this? Will it be too expensive? These are a few thoughts running through people’s minds when it comes to term life insurance. Let’s dive in, shall we?
Term Is The Word Of The Day
Why term?
Its simplest form is to prevent financial destruction if a catastrophe happens to a family member. We say things like “that would be the worst-case scenario if something happened to my child, spouse, etc.” but I submit that one step worse would be to have to go right back to work because bills are due, and coming up with 20K to deal with the funeral and burial, and losing your home due to losing an important income. Worst.
Having a term policy is the biggest bang for your buck.
Term Life Insurance Makes Sense
It makes the most sense during the expensive time of life. The child-raising years, the mortgage payment years, college and cars for teens, babysitters, travel sports, all the cars in the driveway years. This 25-50 time span is stereotypically the most expensive. This is the most important time to have a lofty term policy on yourself and your spouse; it’s why term life insurance makes sense.
Is it a waste of money?
Protecting your family with life jackets, dental appts, vaccinations, seatbelts – why would this be any different? They are worth it. And knowing they would be ok without you is worth every penny.
Having term life insurance while you’re young ensures that your loved ones aren’t left with any debts if you were to die.
– Symmetry Financial Group
The Sooner, The Better
Insurance has been around for hundreds of years. It doesn’t care about the economy, who’s in the White House, or pandemics. Insurance cares about your health, your age, your height, your weight, if you smoke, and medical issues. The younger you attain that policy, the cheaper it will be, so let’s take care of it before any unexpected health issues pop up.
Term policies can be as short as 10 year and up to 30 years, with and without return of premium, and also can protect your mortgage, from $5,000 to multi-millions. There’s always going to be a policy that will fit your budget.
Term is the word of the day. CLICK HERE for a free quote from SN Agency!
