Term Life Insurance
Simply put, when you die, a Term Life Insurance Policy will pay your beneficiary a set amount of money called a “death benefit” or “face value.” It is life coverage only.
How does it work? At the death of the insured, the term life insurance policy pays the benefit amount of the policy to the person(s) you have named as beneficiary. It is very simple and quite affordable. You can purchase the “term” for periods of one year to thirty (or even more) years.
Pibal Broker Tip: Term Life isn’t for you, it’s for the loved ones you leave behind.
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Who buys Term Life Insurance? Anyone, really. It is a simple foundation to your financial stability. It is popular for newlyweds, first-time home buyers, and people who have children or are planning to have children. Business owners and self-employed individuals should have a term-life policy, as it can be used to fund a buy/sell agreement.
How much Term Life Insurance do you need? Well, if you’re searching the internet the answers will vary wildly. At Pibal Insurance Brokers of Oregon, we know that no two people are alike. Everyone has a slightly different story. We will listen to your unique situation and try to find a plan which actually fits into your budget. No one needs to be “Insurance Poor” but you certainly should have adequately placed coverage.
A quick phone call to an actual human, right here in Portland is usually all it takes. Call us today at 503-287-8808 to find out exactly what might best fit your needs & budget.
- Are you a home(s) owner? How much do you owe on property?
- Do you have children & how old are they?
- Are you a business owner (business partner)?
- Child care. Will your partner have to work full-time while trying to raise your children?
- Maintenance, things happen; new roof, cement, new transmission.
- Vehicle. Vehicles are expensive. Will your current transportation last 20 or more years?
- Per Diem. Food, clothes, consumables.
- Education. This is a big one. Are you wanting secondary education at a community college, state school, Ivy League school? How much will college cost 15 years from now?
- As you can imagine, there are many more factors to consider your individual needs.