Term Life Insurance

Term Life Insurance

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Many people have some form of life insurance and there are many different variations available. Term life insurance is insurance that provides coverage at a fixed rate of payments for a specified amount of time. Term life insurance is is only effective for a specified amount of time – 5, 10, or 20 year intervals being the most common.

Here are a few facts about life insurance. According to Infographic Post

  • 93% of Americans say that life insurance is something that most people need.
  • 50% admit that they do not have adequate life insurance coverage.
  • 95 million adults in the United States do not have any life insurance at all.
  • That comes out to be about 41% of the US population.
  • Men: 61% have some kind of life insurance.
  • Women: 57% have some kind of life insurance.

The two most commons kinds of life insurance are:
1. Term Life Insurance
Whole Life Insurance

While life insurance is important to have in case something happens, picking the right type is even more important. Having term life insurance will give you the flexibility you want for the coverage you need.