Term Life - Why It May Be Better for You

Here are the reasons people often choose term life insurance vs. permanent life:

1. Initial affordability

2. Premiums which are adjustable - especially if there is a record of that company more often lowering them than raising them. Reasons the payments would be lowered include investment earnings, mortality experience, and company expenses. Even if they are raised, there is usually a maximum premium stated in the policy.

3. Policies are often renewable, which allows the policyholder to continue coverage past the original period of coverage. Note that the premium likely increases when you do this.

4. Some term life insurance policies are convertible to permanent life insurance.

These are just some of the reasons people choose term life over permanent life insurance, and other reasons are elsewhere on this site. For more information about term life, see you insurance broker.