Term life insurance has an expiration date, so you want to make sure you expire before the policy does.
If the purpose of the insurance is to cover a specific need, such as paying off a mortgage or other indebtedness with a specific time frame you should purchase a term limit to match the expiry of your obligation.
Co-Founder, Coastal Financial Partners Group, California
The best kind of life insurance to have is one that hasn't expired before you do. Term life insurance is very affordable but it is for short term needs. Most term life insurance reaches the end of its coverage period and expires. If you have temporary needs that won't extend beyond the coverage period, match the term period to those needs. Otherwise consider permanent life insurance that is designed to last for your entire life.
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If the purpose of the insurance is to cover a specific need, such as paying off a mortgage or other indebtedness with a specific time frame you should purchase a term limit to match the expiry of your obligation.