Term life insurance is available is many different terms. Use these questions to decide what length of term is right for you and your family.

1.    How long will your dependents need your income?

The length of a term life insurance policy greatly depends on the number of years your dependents will need an income. Determine how many years will it be until you officially have an empty nest.

2.    What are your future plans for your dependents?

Families have different plans for the support their dependents will need in the future. For example, do you have kids that you plan to put through college or will they be independent at the age of 18?

3.    How close are you to receiving retirement benefits?

Every person has a different retirement plan in place. Sometimes it’s difficult to look far into your future and determine the future needs of your family without you. It’s hard to do! However, with the help of your insurance agent and a financial advisor you can put together the pieces of the puzzle.

4.    What is the length of your major debt obligations?

Take a look at major, long-term debt such as your mortgage and other personal loans.

Term life insurance policies come is several term lengths such as 10, 15, 20 and even 30 years. Depending on the answers to the four questions above and with the help of a trusted insurance agent you are sure to find the right length for your term insurance policy.

If you have questions or would like to speak to a life insurance advisor call 800-392-6532.



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