5 Year Life InsuranceDo You Need 5 Year Term LifeHome
Most people buy life insurance to protect family in the event of premature death of a breadwinner. You have dependent children and you want to know that they have a roof over their heads, you want to know that they have food to eat and clothes to wear, you want them to continue going to the same school they now attend. Life insurance replaces your income when you die. Sometimes though there is a short term need for life insurance coverage. You may have a child or grandchild attending college and you want to be assured that child graduates. You make certain the funds are there by purchasing a 5 year or 10 year term policy depending on the profession this child has chosen to pursue. You may have an outstanding debt that you want to clear up if you should die. You don't want your family to be paying off your debts. As long as you are alive you know you can pay the required installments for this debt, but what happens if you suddenly die. For short term loans 5 year term life insurance can come in quite handy. They will pay off these loans when you die. You can go even further with your 5 year life insurance policy in that you can add a waiver of premium rider to your policy. If you should become disabled the life insurance company will pay the premiums for you. You must, however, be disabled for at least 4 months or 6 months, depending on the company's waiver of premium contractual rules. Shop And Compare Rates From Highly Rated Carriers -
Save Up To 70%
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