Why every Bensonhurst family needs Term Life Insurance
What is term life insurance?
Term life insurance is a contract between a policyholder and an insurance company. If the insured person passes away within the time period of the policy, the insurer will pay a death benefit to the beneficiaries
Types of Term Life Insurance
There are four types of term life insurance:
Level Term : It offers premiums that don’t change during the years of the policy length that you chose. (Most Common)
Annual Renewable Term : Your premiums goes up every year even though you chose a period of insurability that guarantees you won’t have to reapply.
Decreasing term life insurance : Your premiums stay the same over the length of the policy but the death benefit decreases steadily over time.
Return of Premium term life insurance : This policy promises to refund premiums you have paid if you outlive the policy. The refund feature makes the policy more expensive.
Why do Bensonhurst families need it?
Bensonhurst families need term life insurance because it helps secure your family’s financial future when something unexpected occurs. With term life insurance, it can cover a family for a period of time (usually 10 to 30 years) and usually comes with a lower premium. Bensonhurst is a residential area with many families residing in this area. You often see middle class families working, elders taking a stroll outside, children playing in the park.
It’s smart to prioritize getting term life insurance when you have dependents who are relying on you. For working families, your income/role in the family would need to be replaced if something was to happen to you. For older parents, term life insurance can cover medical expenses and pay off debt that your family may not be able to afford when they’re gone.