Even the wealthiest people typically have substantial life insurance so that their heirs can gain access to immediate financial support, without adding to the tax burden. For others who may not be wealthy, having the knowledge that they are not leaving their loved ones in a difficult financial position is the inspiration for putting term life insurance in place.
Unfortunately, as we age, our access to low cost term life insurance diminishes, particularly if there are any health issues. In fact, most underwriting companies deny term life insurance coverage to those over 75 years of age, even for applicants who are in good general health.
At Family Source Insurance, we speak to many people who are middle-aged and beyond who are looking for affordable life insurance. Depending on age, we have several options to choose from.
The older a person is, the more they pay in term life insurance premiums. Young people often forget to consider the importance of getting term life insurance. In fact, should a young parent pass away, the benefits provided to the family will protect them from financial disaster, particularly when the individual was a breadwinner whose income supported the family.
While it is never too late to have life insurance, it is far less expensive to buy term life insurance early on. Young, healthy people have more choices and are attractive customers for insurance companies. Term life insurance during these years is very affordable, and provides substantial benefits. These policies are available for a set number of years at a specific rate.
Deciding on the what term life insurance policy to buy is a hurdle that many people feel ill-equipped to manage. There are many life insurance products available, and at Family Source Insurance we understand that the subject can be confusing, and we are here to help make the process simple.
One of the services we offer at Family Source Insurance is a thorough evaluation our client’s needs now and into the future so that we can recommend the best option in term insurance. At our offices in Indianapolis, Indiana we have agents with many years of experience helping people get life insurance at all phases of life.
If you don’t have life insurance and would like to find out what term policy is the best option for you, a quick call to set up a meeting is all that is needed to start the process. Whether we meet you in Indianapolis or speak on the phone, we are confident we can help.