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Whole v term term length presentation 1

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How Long Should You Get Term Life Insurance For?
Considerations, Calculations, and More.

From Whole Vs Term Life Insurance .com

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Whole v term term length presentation 1

  1. 1. Welcome How Long Should I Get Term Life for? wholevstermlifeinsurance.com A website by Scott W Johnson and Marindependent Insurance Services LLC CA Lic 0H11625 and 0K10734 – 415-294-5454 https://wholevstermlifeinsurance.com
  2. 2. Two Types of Life Insurance • Cash Value Policies -Whole or Universal -Complex -Expensive -Life Insurance Mixed with an Investment Component • Simple Term Life -Pure Life Insurance -Set Periods (10,20,30) -No Investment Component -Very Inexpensive
  3. 3. The 2 Major Considerations when buying Term Life Insurance. Death Benefit Amount • How much you would like the policy for. What Dollar Amount? • $250,000 • $500,000 • $1MM • $2MM Insurance Policy Length • How long will the Term Life Insurance policy be for? • 10 Year • 15 Year • 20 Year • 25 Year • 30 Year • Other Options Other consideration is Which Insurance Company?
  4. 4. Term Life Insurance Policy Length How long should I buy level term life insurance for? 10, 15, 20, 25, 30, or more?
  5. 5. We Explore this subject in our post https://wholevstermlifeinsurance.com/term-life-insurance-policy-length/
  6. 6. Term Life Length is Personal • Deciding the length of term life insurance is a personal decision • Things to Consider -Your Age -Age of your Children -The Reason for the Life Insurance -How Long will you need Life Insurance For?
  7. 7. Ten and Fifteen Year Term • 10 Year -Often Best for Stacking on to another term policy. -May be the best option that can reasonably for people that have really put off getting life insurance. -Generally lowest cost term product. • 15 Year - May be great for families that have put off buying life insurance for a while. -Still Relatively cheap, but possibly long enough to cover some time. -Can be a nice medium area between 10 and 20 year term policies.
  8. 8. The Twenty Year Term • The 20 year term is usually one of the most popular options for term life length. • It is a really good option for new parents. • It’s a nice happy medium between the shortest and longest of the term life lengths. • Fairly priced.
  9. 9. The twenty five and thirty year options. • 25 Year Term -A nice option for either slightly younger parents of newborns or possibly the mom. -More expensive than the 20 year but it can be reasonable. • 30 Year Term -Generally the longest of the true term options -Hence it would be the most expensive. -A great option if you buy term when you are young.
  10. 10. Other Term Life Options There are possibly some other options, contact to discuss.
  11. 11. https://wholevstermlifeinsurance.com/term-life-insurance-policy-length More information is available on our blog post. Whole vs term life insurance . Com / term-life-insurance-policy-length
  12. 12. Life Insurance is Confusing We are here to help scott@marindependent.com