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$500,000 Term Life Insurance Policy

by Scott G on December 7, 2012 · 2 comments

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$500,000 Term Life Insurance

Term life insurance is a financial security product that pays out funds in a lump sum upon death of the insured. Despite the importance of term life insurance, amazingly few of us have a term life insurance policy in place.  It is even more surprising when you consider $500,000 of term life can be had for as low as $15 month!

Why Do You Need Life Insurance?

For folks with a home loan and a family to support, not having a life insurance policy subjects your family to unnecessary risk. This danger becomes apparent when you consider how the mortgage and everyday bills would be paid if the key income earner was to suddenly die or to become terminally ill. The consequences are unthinkable, including your spouse and children can’t keep up with housing, food and everyday bills.

Life Insurance Protects Your Family And Give You Peace of Mind

 

Term Life Insurance Is Expensive, Right?

Term life insurance rates are actually at all-time lows.

Here are some sample premiums of someone in good health:

Age        Coverage Amount      Term            Cost                          Company

38           $500,000                     10             $14.66 month            Protective Life

38           $500,000                     15             $16.53 month             SBLI

38           $500,000                     20             $22.19 month            SBLI

38           $500,000                     30             $37.85  month           SBLI

 

Life insurance is one of the most important purchases you will ever make.  Make sure you do your homework and find the best policy.

*Rates as of 12/7/2012. The information in this post is for informational purposes only and is not a guarantee of rates and insurability.  Rates and eligibly are subject to the underwriting guidelines of the insurance companies and state in which you live.

Joan January 6, 2013 at 8:12 pm

A term life insurance policy is a great way to protect your family, a term policy in place gives some comfort knowing that your love ones will have money to take care of your mortgage, bills, and have some protection. This is a small price to pay, To protect ourselves if something were to happen.

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