TERM LIFE INSURANCE

While permanent whole life insurance is like owning your home, term insurance is like renting your home. Both types exist for specific purposes. Term as the name implies, is designed to meet a temporary need because it is not desired to be in force for your entire life. The cost of this type of protection is initially lower than is whole life. At the end of the term the contract ends. With what is known as renewable term insurance, a new contract can be entered into for another equal term, but at a much higher rate of premium thus making term insurance much more expensive than whole life if the coverage is required long term.

At Keyfactor Financial Solutions, we will ensure that any recommendations that we make based on your immediate and future needs will include both a proper type and exact amount of life insurance required.