TERM LIFE INSURANCE - BEST USE

Term Life Insurance is cheap and therefore, among other things a good fit for young adults.

I always hear: "Life Insurance is expensive!"

It can be, but not necessarily. Term Life Insurance is the least expensive type of Life Insurance. It is perfect for young adults, and especially those with, or planning to have, a family. Term Life Insurance provides hundreds of thousands of dollars of financial protection at an affordable rate that is inexpensive for young, presumably healthy young adults. This protection is important during times of accumulation; spouse, children, home(s), automobiles, etc. This type of Life Insurance provides financial protection and peace of mind.. for replacement of lost income, future college tuition for children, and more, at the loss of a breadwinner or homemaker during these years of accumulation.

Example: Insured is a 20-year-old single person who plans to marry and start a family. This person has a $300,000 30-year term policy. At age 30, when he, or she has a spouse, and children; he, or she, can convert $100,000 of the benefit to an index Universal Life Insurance policy. The now $200,000 term policy continues to provide financial protection for another 20 years, at a lower rate. The new permanent Life Insurance policy can begin funding a "Tax-Free Retirement Income".

*For parents of unmarried young adults, we know that anything can happen at any time. We are the people looked to for our children's final affairs. A minimal $50,000 Life Insurance policy is a very, very, inexpensive low-cost policy that can provide the financial means to handle their final expenses, until they are financially fit. Then, if you choose to; you can gift the policy to him, or her, or keep it as a backup.