It's important to compare different policies before making a purchase because making the right choice now can save you time and money in the future. A professional insurance advisor can explain the types of coverage to you, help identify your specific needs and look for ways to get you the right type and amount of insurance at an affordable price.
Coverage ends when the term expires.
Term insurance is generally less expensive at younger ages than permanent insurance That means you can buy higher levels of coverage at a time when your protection needs are great but your income may not be. It is ideal for covering specific needs that will disappear in time, such as mortgages, car loans and college costs. Term insurance can often be converted to a permanant plan at a future date. The cost of term insurance may increase as you grow older. Generally, the policy doesn't offer cash value accumulation.