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Heimgartner Insurance Inc.

4708 Morningside Ave
Sioux City, IA 51106

Heimgartner Insurance Inc. Blog

The Basics of Term Life Insurance Policies

The two kinds of life insurance, whole life and term life, work very differently from each other. Term life is a popular type of life policy that has its advantages and disadvantages. These policies are popular among people from all walks of life who want to leave something behind for their loved ones. When you have people depending on you, make sure you have life insurance in place. Contact us at Heimgartner Insurance Inc. in Sioux City, IA to get started.

The Policy’s Term

The name of this type of policy comes from the number of years that the policy has stayed good. At the beginning of a term life policy, several years is set for the policy to be in effect. Then, the policyholder has coverage during those years. At the end of the term, the policy expires. After this happens, you have to get a new life insurance policy to become covered again. Unlike a whole-life policy, this type of policy has an apparent lifespan, making some people not want this kind of insurance. It’s a disadvantage, but term life also has a big advantage.

Budget Pricing

One of the reasons so many people choose term life policies is that they are the most affordable type. Term life policies generally come with a lower price tag because they expire and won’t necessarily be there when people get to be elderly. Term life policyholders lock in a low rate while they’re younger and then keep the policy through the end of the term. The less expensive choice in life insurance is often the one that people can afford to include in their budgets. 

Get Term Life Insurance 

When you need a term life policy, we can help. Call Heimgartner Insurance Inc. in Sioux City, IA.

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