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The Benefits of Term Life Insurance


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The Benefits of Term Life Insurance

  1. 1.  With more than a decade of experience in the investment and life insurance industry, George Argyros Jr. serves as chief executive officer of Elite Financial Group, LLC. In addition, George Argyros Jr. leads Leveraged Life, Inc., a subsidiary of Elite Financial Group. Under his leadership, both companies offer financial products, focusing primarily on life insurance. Life insurance comes in three forms: whole, universal, and term life insurance.
  2. 2.  The latter offers a lump-sum payment upon the death of a loved one and serves the purpose of replacing lost potential income. A more affordable option than whole life insurance, term life insurance requires the policy holder to designate a period of time for which his or her family has financial protection. If the person outlives the time period, continued coverage is often offered. While term life does not help build equity, premiums are typically fixed, and the proceeds paid to beneficiaries are generally tax free.