• Home
  • Get A Quote
  • Customer Service
  • Refer a Friend
  • About Us
  • Location Map
  • Employee Directory
  • Privacy Policy
  • Contact Us
Call Us CALL US | (803) 430-9002
Home
  • Home
  • Products
    • Automobile
    • Business & Commercial
    • Bonds
    • Contractors Insurance
    • Disability Insurance
    • Flood
    • Health
    • Homeowners
    • Life
    • Motorcycle
    • Recreational Vehicle
    • Renters
    • Surety Bond
    • Trucking
  • Get a Quote
    • Auto Insurance Quote FormsImage of right arrow
      • Bundled Auto & Home Insurance Quote
      • Instant Auto Insurance Quote
    • Bond Request Form
    • Business & Commercial Insurance Quote FormsImage of right arrow
      • Commercial Auto Insurance Quote
      • General Liability Quote Form
    • Contractors Quote Form
    • Flood Quote Form
    • Health Insurance Quote Forms
    • Disability Insurance Quote
    • Homeowners Insurance Quote FormsImage of right arrow
      • Get an Instant Home & Auto Quote Now!
      • Get An Instant Homeowners Quote Now!
    • Life Insurance Quote FormsImage of right arrow
      • Get an Instant Life Quote Now
      • How Much Life Insurance Do You Need
    • Motorcycle Insurance Quote
    • Recreational Insurance Quote Form
    • Renters Insurance Quote
    • Surety Bonds
    • Trucking
  • Blog
  • Resources
    • Make a Payment
    • Refer a Friend
    • Important Files
    • Insurance Glossary
  • About Us
    • About Us
    • Location(s)
    • Employee Directory
    • Testimonials
    • Privacy Policy
  • Contact
Auto Insurance AUTO

Auto insurance protects you against financial loss if you have an accident.

Read More
Homeowners Insurance HOME

A standard policy insures the home itself and the things you keep in it.

Read More
Business Insurance BUSINESS

Discover the perfect insurance options to meet your specific and unique needs.

Read More
Contractors Insurance CONTRACTORS

Learn about different health coverage options that fit your specific needs.

Read More
Recreational Insurance RECREATIONAL

Finding insurance doesn't have to be difficult. We do the work for you.

Read More
Life Insurance LIFE

Browse a variety of insurance options in order to find the right one for you.

Read More
Home > Blog > 5 Factors To Consider When Buying Term Life Insurance
FRIDAY, FEBRUARY 15, 2019

5 Factors To Consider When Buying Term Life Insurance

Pouring Over Coverage

Buying term life insurance can be a very valuable investment for you and your family. It is not always an easy decision, though. There are plenty of policies out there. Many companies can confuse you when it comes to deciding which is right for your needs.

Yet, procuring coverage does not have to be complex. Instead, break it down into simple decisions. Follow these five steps for buying the best policy for you.

#1: Determine What You Want To Accomplish

The most important decision you have to make is this one: What do you want to leave behind for your loved one if you die suddenly? This is the amount of insurance you should seek out.

Consider:

  • How many debts you have
  • How much your income is right now
  • How much your mortgage payment is
  • How long you aspire to support your loved ones
  • If you have any other goals for the funds, such as charitable support

This all helps you determine the value of your life insurance payments. It gives you a good place to start.

#2: Make Sure Term Is Best For You

Next, compare your options.

For some, term life insurance is best. It is a generally low-cost option in place for a specific length of time. However, whole life insurance can be best for those who want to earn income on the policy during their lifetime. You may wish to compare both options to determine which fits your needs best.

#3: What Flexibility Does The Plan Offer?

Term life insurance needs to be flexible enough to meet your goals. This means the premiums as well as the ability to renew your policy at the end of the term can play a role in your decision. Be sure you choose a plan that allows you to include your spouse if you would like to. And, it should provide you with enough protection while remaining affordable.

#4: What Is The Cost?

Determine two things here.

  • What is the cost to purchase this policy right now (at your current age and health level)?
  • What would the cost be if you were to wait?

You are almost sure to pay less right now than you would later on. As a rule of thumb, the sooner you secure insurance, the better.

Also, consider your ability to renew the policy at a set rate later.

#5: Who Is The Company?

Though most insurance carriers are stable, it is wise to learn about the business itself. Who are these carriers? How long have they offered this coverage?

Most importantly, make the decision with some help. Work with your Affordable Insurance Group agent to choose a policy you feel good about owning.

Contact Us

Posted 11:00 AM

Tags: life insurance, affordable insurance group
Share |


1 Comments

Oscar Morrison said...
Its good to remember we should consider whether wed want the benefits of spending less on a term plan or if wed want to invest in a whole life plan to benefit us down the road. Were getting ready to start paying for life insurance now that were about to have a kid so that things can be taken care of if something happens. It will be important to talk with each other about what we want most when we start looking for a policy. http://ronnyvoltz.com/additional-insurance-plans
THURSDAY, DECEMBER 26 2019 5:00 PM

Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2012

  • affordable insurance group(52)
  • insurance(43)
  • auto insurance(30)
  • home insurance(29)
  • coverage(24)
  • car insurance(16)
  • protection(11)
  • tips(9)
  • life insurance(8)
  • home(7)
  • life(7)
  • winter(6)
  • claims(6)
  • homeowners insurance(6)
  • homeowner(6)
  • loss(4)
  • weather(4)
  • safety(4)
  • policy(4)
  • repairs(3)
  • risk(3)
  • business insurance(3)
  • rv insurance(2)
  • options(2)
  • motorcycle insurance(2)
  • finances(2)
  • boat insurance(2)
  • quote(2)
  • flood insurance(2)
  • construction(2)
  • auto(2)
  • claim(2)
  • accident(2)
  • exclusions(2)
  • theft(2)
  • damage(2)
  • women(1)
  • prevention(1)
  • gaming systems(1)
  • autonomous vehicles(1)
  • home insurance exclusions(1)
  • transmission(1)
  • fraud(1)
  • loans(1)
  • requirements(1)
  • family(1)
  • class c vehicle(1)
  • renters insuance(1)
  • future(1)
  • cleaning(1)

View Mobile Version
Facebook
Twitter
LinkedIn
Yelp
ASI Homeowners of America National General Progressive Stillwater The Hartford The Main Street Travelers Zurich

Resources

Home About Us Get a Quote Make A Payment Newsletter Refer A Friend Contact Us

Contact Us

Affordable Insurance Group
  • Affordable Insurance Group
  • 6168 Saint Andrews Road
  • Columbia, SC 29212
  • O:(803) 430-9002
  • F:(803) 798-5100
  • E: info@affordableinsgrp.com
© Copyright 2020. All rights reserved.
Powered by Insurance Website Builder