Term Life Insurance; right?

Is Term Life Insurance with a Return of Premium Rider really the way to go for insuring your family’s future?


We all know that Term Life Insurance is cheap. In fact the reason it is cheap is a very small percentage of death benefit claims are paid from Term Life Insurance Policies. Reason is Term Life Insurance Policies aren't kept that long or the term is up.  Adding the ROP Rider can add as much as 40% to the premium. And at the end of the term of the policy you get back all the premiums you paid for the period you are insured. Great, right?

Well, what happens next? Based on the way we as consumers live, we seem to never get of debt; we want to insure our children and grand children’s future, leave money to a worthwhile cause and always maintain our standard of living. How many people do you know who are age 65 or older and have a mortgage or take care of a grandchild?

So when your term is up, what do you do – well statically people buy another Term Life Insurance Policy when the term of their Term Life Insurance Policy is over. At that time a person may or may qualify for a new life insurance policy due to health or medical reasons. And at what price?

Do yourself a favor. Before you buy that Term Life Insurance Policy with that Return of Premium Rider, ask for a permanent Life Insurance quote and compare. Compare today’s costs with tomorrow costs. Chances are it is less than the price of a cup of coffee per day. A Permanent Life Insurance Policy will at least give you something a Term Life Insurance  can't– OPTIONS.

And if you haven’t figured it out, you never out grow the need for Life Insurance.