TERM LIFE POLICIES
As the head of household, how would your family remain financially solvent in the event of your death? How would your spouse make the mortgage/rent payment? How would your spouse pay for your children’s college tuition? Allow the insurance industry experts employed by CSN Insurance Services in North Las Vegas, Nevada to explain how a simple term life insurance policy can replace the lost potential income you would have earned during your working years. Thereby providing a safety net for your family and peace of mind for you knowing their needs will be met.
Term life insurance is structured in a way to provide an exact benefit for a specified period of time, often 5, 10, or 20 years. Throughout the initial term, the premium (paid monthly, quarterly, or annually) will remain the same. Once the term has expired, the policy holder may elect to keep the policy; however, it will generally be at a significantly higher premium. In most instances a term life policy is less expensive than permanent life insurance (eg. universal life insurance policy, whole life insurance policy).
While the objective of a term life insurance policy is most often to replace the lost potential income you would have earned during your working years, the benefit is generally paid in one lump-sum by the insurance carrier.