While it is true that whole life insurance can be costly, the risks associated with not having some form of life coverage in place are significant. Even if whole life will not fit in the budget right now, there is an alternative. Choosing to secure term Life Insurance in Fox Lake IL, today will provide a range of benefits many people overlook. Here are some examples. Low Monthly Premiums That Do Not ChangeOne of the chief advantages of term Life Insurance in Fox Lake IL, is that it will easily fit a budget that is already stretched close to the breaking point.
This simple form of life insurance requires a low premium in exchange for providing a cash payout to a beneficiary, assuming the covered party passes away while the policy is in force. This means there will be money to help with settling final expenses like medical bills, funeral arrangements, and maybe even providing some money to keep the household going for a time.
Some providers will even accept payments for six months or a year of coverage in advance. They may offer slight discounts in return for choosing this method over paying on a month-to-month basis. This helps to make the coverage even more affordable for many households. No Medical Exams Unlike whole life, term Life Insurance Fox Lake, does not require a physical examination as part of the criteria for securing the policy.
For people with ongoing health issues and other situations that would make it hard to get whole life coverage, this certainly makes it easier to secure the protection needed. Keep in mind that many providers of term life coverage do limit benefits based on pre-existing conditions for a short period of time.
Once that period passes without incident, the plan is in full force. There is no doubt that term life insurance will help provide benefits when the time comes. In the interim, the plan provides peace of mind for people who worry about how loved ones will manage financially if they are suddenly not around. Talk with an agent at Alamo Insurance and Financial Service today and secure a term plan. Doing so will be the smartest move that is made today.
