Type of Insurance: |
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Level Term: The policy has a fixed premium for a period of time longer than one year. These terms are commonly 5, 10, 15, 20, 25, 30 and even 35 years. With level term insurance the benefit does not decrease.
Return of Premium: The policy returns the premiums you have paid for coverage over a fixed term period if coverage is never used. |
Face Amount: |
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In order to make a decision about the right amount of life insurance, it's important to consider the reasons you are purchasing a policy. If providing for your family, you should have enough insurance to make up for the loss of your salary for the rest of your working years. If protecting your business and business partners, you should estimate the out of pocket costs necessary for the business to proceed with one of the key persons.
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