When Should I Buy Term Life Insurance?
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63333 POINTSview profilePeggy MaceMost of the U.S.You should buy Term life insurance when you have a need for a lot of life insurance at a low cost, and when the need is temporary. E.g. If you want to be sure that your 3 young children have enough money to go to the college of their choice if you would pass, you could take out a $1,000,000 twenty year term policy at a much lower rate than if you bought that amount in Whole Life.Answered on July 16, 2013flag this answer
10968 POINTSview profileTim WilhoitOwner, Your Friend 4 Life, Brentwood TNTerm life insurance is needed when a loved one depends on your income to live or function. Could be a spouse or child or a business partner or key employee situation. Term life insurance is the most affordable way to create an instant estate due to a sudden or unexpected loss.Answered on October 21, 2014flag this answer
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