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Pros and Cons of Term Life Insurance

Feb 11, 2010 Life Insurance 101, Life Insurance Quotes, Types of Life Insurance

What are the pros and cons of term life insurance?  The pros are that it is cheap and gives you guaranteed coverage for a specific period of time.  Some term policies allow you to convert to a permanent policy without having to provide any proof of insurability.  The period of time in which they will allow you to convert varies by carrier and product.

What are the cons?  The big down side to term life insurance is that you will most likely outlive your level term period and if you wish to keep your coverage the premiums will begin to increase annually.  If you are still insurable and you are young enough to buy another term policy, it may be very expensive at that time.

If you have more questions or concerns about the pros and cons of term life insurance and other types of life insurance you can reach us at 1-888-950-TERM (8376).  You can also run your own term life insurance quotes here.

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This entry was posted on Thursday, February 11th, 2010 at 1:21 am and is filed under Life Insurance 101, Life Insurance Quotes, Types of Life Insurance. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

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