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Term Life Insurance:
Term life insurance can provide you and your family with substantially more insurance coverage for a much lower premium price. It is also very often the product of choice when protection needs may be high for a period of time, then drop back, such as when your family is growing. Term coverage allows you to obtain crucial death benefit protection without breaking your budget. Also, if the coverage is convertible (the coverage can be "converted" to a comparable cash value policy, without the need to provide evidence of insurability), you can get the coverage you need today, with the ability to obtain permanent coverage in the future. In this respect, term insurance meets a valuable need. Converting to a permanent policy lets you "lock in" a fixed and level premium, and your coverage can never be canceled provided premiums are paid.
It is important to note that Term life insurance provides a death benefit only, for a specific period of time (often a 15, 20 or 30 year term). When the term coverage expires, so does your protection. Also, should you stop paying premiums, the coverage ends. Purchasing term insurance is often compared to renting an apartment. When you rent, you get the full and immediate use of the space, but only for as long as you continue paying rent. As soon as your lease expires, you must leave - you have no "equity" or "value" that belongs to you. Your Stanton Insurance Agency representative will be pleased to explain the features and benefits of each type of product that we offer, so you can be sure of obtaining the best match for your individual insurance needs.
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