Term Life Insurance
Covering Your Financial Obligations :
Term Life Insurance
The Protection You Need for Now
You've worked hard for the things you enjoy in life. You've also tried
to assure that those who depend on you are free from financial worry. What
would happen if you died and could not provide financial support for your
family? Could your family keep their home? Would the bills be paid? Would
your children be able to afford to go to college?
Most customers who need basic financial protection for a limited, specified
period of time find life insurance a valuable life insurance alternative.
What is Term Insurance?
Term life insurance provides financial protection for a specific period
of time. If death occurs within the time limits, or "term" of the policy,
the face amount of the policy is paid. This "face" amount is the amount
of money that is paid upon the death of the insured person. On the other
hand, when the insured person lives longer than the length of the policy's
"term", nothing is paid.
The two most common types of term insurance are decreasing and level
term. With decreasing term, the coverage amount decreases from year
to year or month to month. It is frequently used to provide funds to pay
the decreasing amount of a home mortgage. Level term insurance provides
a constant amount of insurance for a specified time period.
What are your life insurance
You may want to consider the following:
Total Personal Funds
Total Life Insurance Needed
Homeowner (outstanding mortgage loan balance and real estate taxes)
Credit Card Debt
Children's Education Fund
Emergency Cash Fund (cash needed immediately)
Family Living Expenses (money needed to continue present lifestyle)
Child Care Fund (money needed to keep children under paid supervision)
Other (final expenses, estate taxes)
Stocks & Bonds
Other Investments (pension, profit sharing, property)
Group Life Insurance
Personal Life Insurance
Other (Social Security)
What are Some of the Advantages
of Term Life Insurance
Term Insurance is an excellent means to provide for large needs with specific
time limits, such as when children are young or in certain business situations.
The premiums for term policies are usually lower than premiums for permanent
life insurance policies with the same amount of protection. This is because
term insurance does not build cash value as permanent insurance plans do.
Most Life term policies can be converted for permanent life insurance,
regardless of your health or other factors at the time you convert. In
that way, term insurance can help to assure your future insurability.
The renewability option on term life policies enables the policy owner
to extend the policy length, regardless of health status or other related
factors at the time of renewal.
5500 Veterans Blvd., Ste. 308
Metairie, Louisiana 70003
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