How can term life insurance benefit my family?

Term Life Insurance is coverage that applies for a specific period of time, when people have the greatest financial commitments.

Term Life Insurance guarantees that these costs can still be covered even in the event that something happens to you. It doesn’t have as big of a premium as other life insurance options, but the coverage is invaluable.

When taking on a mortgage, it is the perfect time to begin discussing insurance options with your Advisor. It can be reassuring to know that your loved ones can pay off the mortgage and live in the house, even if you are no longer there to make the mortgage payments.

Questions to ask your mortgage agent:

What are the tax consequences?
Who chooses the beneficiary?
Is the death benefit guaranteed?
Can we add additional coverages?
Are multiple beneficiaries permitted?
What happens when the term ends?

You may also be interested in:

10 Closing Costs When Buying a Home
10 Great Reasons To Get Critical Illness Insurance
What Happens To My Mortgage If The Housing Market Crashes?