Term life insurance appeals primarily to younger people who want a lot of insurance at a very good price in case they die prematurely, but it can also be used by older people to gain a short-term policy that covers some special need.
If you have family or others who count on your income or special care, your death could have a terrible impact on their lifestyle. That goes for household breadwinners as well as stay-at-home moms, whose enormous contribution to the family would be very expensive to replace.
A term life insurance policy can help by providing beneficiaries substantial funds to sustain their daily financial needs, pay off family debts, or hire outside care that you were previously providing. Funds from a term life policy can be designated to a trust if you want to have the money dispensed by a trustee, or they can be paid directly to a beneficiary.
Term life insurance comes with numerous options. You can opt for a level term policy, which keeps the same payout all the way through the life of the policy, or you can choose a decreasing term, which means the death benefit is reduced over time. One example of that is mortgage life insurance.
Some policies keep the premium steady for the entire time you own the coverage. Others increase the premium incrementally at certain benchmarks over the course of the policy's term.
It is also possible to pick a plan that has optional riders, which give you choices along the way about changing or increasing your coverage, usually with an associated price change.
The term life insurance industry makes policies that are affordable for just about anyone. Your premiums will be affected by your health, lifestyle and occupation, but just having a pre-existing medical condition or a high-risk job doesn't mean you can't get coverage. We will work with you to find a policy that's right for you.
For more than five decades, Cliff Insurance Agency has been dedicated to serving Wisconsin residents with the best in insurance products and advice. We serve the communities of Middleton, Madison, Verona, Sun Prairie, McFarland, Mt. Horeb, Cross Plains, Monona, Maple Grove, Cottage Grove, Deerfield, Mazomanie, and beyond. We'd like an opportunity to show you how we can help serve you. Please give us a call at 1-800-270-5101 to discuss what life insurance options are available to you. Or, if you prefer email us or complete and return the form above.