Term life insurance is one of the two main types of these policies. The other type, whole life insurance, is popular due to its advantages, such as no expiration date. However, term life insurance is also popular, and that’s because it has a major advantage of its own. It’s important to have a life insurance policy to protect your loved ones. If you need a life policy, call us at Voi Insurance Solutions LLC in Glendale, CA to learn more and get started.
The Expiration Date
Term life insurance has this name because it stays in force for a specific term. It may be 10 years, 20 years, etc. The policy stays good throughout this specified term. At the end of it, the policy will expire. It will no longer be in force, and you’ll not be covered unless you have another policy. Once this happens, you can apply for a new policy to start a new term or get a whole life policy if you need more coverage.
Benefits of Term Life Insurance
A term life policy doesn’t build up a cash value like whole life policies do. However, term life policies have the major advantage of being highly inexpensive. They are popular because they cost a fraction of what a whole life policy costs. For people on a tight budget, getting a term life policy is often the only way that life insurance is affordable. It’s always a good idea to have life insurance, so if you can’t afford a whole life, term life is a great way to make sure you’re covered.
Get a Term Life Policy in Glendale, CA
Call us at Voi Insurance Solutions LLC in Glendale, CA to get started with a term life policy. We’re here to help you get started.