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Whole v term term length presentation 1

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? A website by Scott W Johnson and Marindependent Insurance Services LLC CA Lic 0H11625 and 0K10734 – 415-294-5454
  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
  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. 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