Term Life Insurance: Get to Know the BasicsLife insurance is something that everyone needs to think about, so it’s important to know the basics.

No one likes thinking about life insurance: coming to terms with your own mortality is a heavy subject for everyone. But once you settle into a life with your family, you need to be prepared if something unexpected happens. It’s time to start thinking about life insurance because you want to take care of your family should something happen to you. And, unfortunately, life throws curve balls and sometimes we don’t hit the most important one. If you pass before your time, how will your family get by without your income—especially if your income is the one everyone depends on? Know the basics of term life insurance to help you with your journey to find the perfect life insurance policy.

Term Life Insurance

With term life insurance, a policy only lasts for a specific amount of time that is decided upon when purchasing the insurance—or, lasts for a term (as the name suggests). Term insurance can help replace your income when you are no longer able to provide it. It can also help cover outstanding debt, pay for funeral costs, and even help pay for your childrens’ university after you’re gone.

A life insurance policy usually lasts for 10, 20, or 30 years and is available in most increments of 5. As long as you pass away before the policy expires your family will receive the full benefit, also known as a “death benefit.” If you pass even one day after it expires and you haven’t renewed, your family will be left with nothing. If you choose term insurance, work with your agent to make sure you have continued coverage.

Choosing the right life insurance for you is the best thing that you can do for you and your family. For all of your life insurance inquiries, contact Scautub Agency for all of your insurance needs. Our Scotia, New York team can help keep you – and your wallet – safe.