Are you looking into purchasing term life insurance in Cincinnati? Call a local life insurance expert at 513-662-7000.
Term Life Insurance-Term life insurance is pure insurance. There is no savings element to term life insurance and it provide you the maximum amount of coverage for the least amount of money.
Example -A $500,000 term life insurance policy that is guaranteed level for 30 years would cost around $107.50 per month for a 45-year-old man in excellent health with one company. A whole life insurance policy would cost you nearly 6 times more money. Term insurance can offer guaranteed rates from 10 years to 30 years. (This means the rates will not change for the time period you select.)
Primary Advantage of Term Life Insurance-Term life insurance provides you the most coverage for your premium dollars.
Primary Disadvantage of Term Life Insurance-Term life insurance will only last as long as the term that you pick. So in other words if you pick a 10 year level term policy that is so heavily advertised on television today, in the 11th year the rate on the term insurance will go up significantly. How much could it go up? 10 to 20 times the original amount. So if you start off at $30 per month your rate could go up to as high as $600 per month and it will increase each year after that. (Level term policies automatically convert to annual renewable term policies after the period of time goes past the date that you locked your rates in.)
Don’t Make This Mistake When Buying Term Life Insurance in Cincinnati.
You might be making a significant mistake if you only purchase a 10 year level term life insurance policy thinking that it won’t be any problem to qualify for a new term life insurance policy 10 years in the future. You should purchase a 30 year level term policy to lock your rates in for the next 30 years.
Buy Your Term Life Insurance in Cincinnati with the Experts!
Many insurance agents in Cincinnati promote cash value life insurance policies versus term insurance policies and we believe that is a mistake. In most instances term life insurance is best for your life insurance needs.
Contact Pathway Insurance for Your Term Life Insurance Needs
Our office number is 513-662-7000 or you can send an e-mail to Jack@pathwayinsurance.net