SOUTH TEXAS INVESTORS CLUB,LLC dba, INTEGRITY FINANCIAL GROUP
INTEGRITY FINANCIAL GROUP
"INTEGRITY IS CHOOSING YOUR THOUGHTS AND ACTIONS BASED ON VALUES RATHER THAN PERSONAL GAIN."
ANNUITIES*ALTERNATIVE INVESTMENT * LIFE INSURANCE * WEALTH TRANSFER*CD'S
Term Life Insurance
As you might expect, term life insurance lasts for a set period of time, which can range anywhere from 1 to 30 years. If you should pass away during that period of time, your beneficiaries are paid the value of the policy. Term life insurance might be a great option for a young family, allowing parents to protect their children until they are old enough to provide for themselves.
What Length of Term Life Insurance Should I Apply For?
It depends why you are buying the life insurance and what your long term goals are. If you are buying term life insurance to protect your young family then you might consider a 20 or 30 year term policy. We typically recommend a policy with a term length long enough to reach your youngest child’s 25th birthday. If you have a non-working spouse you should consider buying a longer term policy that would help with your spouse’s eventual retirement.
You might apply for a shorter term policy (like 5 or 10 years) if your family insurance needs are taken care of but you take on a new debt obligation. An example would be a financially fit 45 year old who buys a commercial building with a 10 year mortgage and balloon payment. An inexpensive 10 year term policy can cover the new debt obligation. If you are looking for insurance for a specific need like the one in this example you should request a custom life insurance quote and our agents will be happy to help you find the right policy.
How Much Term Life Insurance Should I buy?
There are a lot of factors that go into determining how much term life insurance to buy. You should consider your family’s future income needs, cost of children’s education and outstanding debt. We have a useful way to determine how much term life insurance you need with our life insurance calculator tool.
Our Guarantee, Always
If you have questions or see any issue with the way things are done, just say so. We believe in open communication. Just let us know what’s on your mind. Whether it’s a simple conversation or taking an entirely new direction, the important thing is that you remain confident.