Key considerations to review when purchasing insurance
Insurance doesn’t have to be complicated. Term life insurance currently represents 36 percent of total life insurance sold in the U.S. each year. It comes highly recommended by financial gurus like Suze Orman and Dave Ramsey because, for most people, term is the most affordable life insurance available.
Term life insurance exists for a defined period of time (usually 10, 20 or 30 years). When you buy term life, your beneficiary will get paid the life insurance amount if you die during that term. Like renting an apartment, term life insurance gives you benefits for a limited period of time without building any cash value or equity.
When shopping for term life insurance, it is important to consider the 4 C’s.