Monday, November 9, 2009

Death Benefits and Level Premiums Analyzed by

life insurance

Chicago, IL (1888PressRelease) November 09, 2009 - Very little is more important to a person than the safety and security of their family. And term life insurance is an affordable way for people to guarantee that security and future even after they have passed on. The most affordable policy is 10 year term life insurance. According to a recent article, “Who Needs a 10 Year Term Life Insurance Policy?” a 10 year insurance policy shouldn’t be purchased hastily.

A 10 year term life insurance policy is a plan that guarantees a set death benefit and level premium for 10 years. It’s usually best for those who are looking for a high death benefit and at a very low premium for a short term.

But policyholders should think twice about both the benefits and the disadvantages of short term life insurance coverage.

The main benefit to a 10 year term life insurance plan is its affordability. It’s the cheapest kind of policy among an already-inexpensive kind of life insurance. However, it has a downside, too.

“While 10 year term life insurance is cheaper, it may cost more in the long run,” according to the article. “Upon each renewal, your rates would increase significantly, making it more cost-effective to buy one 30-year-plan than three 10 year term life insurance plans.”

However, if you’re someone who wants to secure your family’s future by looking for a high death benefit for a very low premium, and for just a short time, than you would most suit a 10 year term life insurance policy. The money from the policy can help ease the lives of your beneficiaries after you’ve passed on. It can help them pay debts, funeral costs, mortgages, educational expenses, or any number of other goals they want to achieve.

To find a 10 year term life insurance policy that fits your coverage needs, visit and obtain life insurance quotes.