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If you’re thinking about purchasing a life insurance policy, it can be difficult to know where to start. You’ve probably heard of term life insurance before – perhaps from a commercial or some other source you can’t quite recall. The important thing is that you know that this type of insurance exists, but what is it?

Simply put, a term life insurance policy is something you pay for at a flat monthly rate for several years or decades, which pays out to your beneficiaries if you die during its term.

Depending upon the available policy, the term can last 10, 15, 20, or 30 years. During this term, your premium is reasonable, considering this is a life insurance policy (a few hundred dollars per year, in total). When the term expires, however, your premium can skyrocket to proportions where you could be paying thousands of dollars per year to continue your policy on an expired term.

Your policy probably won’t self-terminate when the term expires. To avoid getting hit with a massive bill when this happens, you’ll need to cancel it on your own. It’s also important to stay on top of your premium payments. You might think it goes without saying, but missing a payment can put your policy and the potential for a payout in jeopardy.

Do You Need Help Finding the Right Policy?

If you’re searching for a life insurance policy that can protect your loved ones in the event of your unexpected passing, our experts at Insurance Specialists, Inc. can help. Our team members are highly knowledgeable and skilled when it comes to learning about our customer’s needs and matching them with policies that account for what’s most important to them.

To get the help you need when you’re looking for life insurance, reach out to Insurance Specialists, Inc.! Contact us online or call (888) 451-0883 to get in touch with us today.