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What are the pros and cons of term life insurance?

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Mountview Financial Solutions
What are the pros and cons of term life insurance?

A term insurance policy is one of the most basic and long-standing types of life insurance. The following are some of the pros and cons of term life insurance:



Pros of term life insurance:

  • Term insurance plans are an affordable solution that intends to give life insurance coverage. They are designed to fit your budget. Term plans provide low premiums that won't strain your budget.
  • Term life insurance plans are easy to understand. Term insurance is the best option for people who only need a simple life insurance policy to protect their families from potential risks.
  • Many term insurance policies allow you to transfer from a term to an investment plan for the insured, but with a premium increase.

Cons of term life insurance:

  • Term life insurance premiums differ as per your age, which means that if you buy it when you're older, you'll have to pay more monthly premium than when you are younger.
  • A term life insurance policy protects your home in the case of your death. However, it does not include a savings component.
  • Term life insurance is not for investment purposes. These policies are purely protection insurance products with no cash value.


If you are searching for a Term life insurance advisor in London and Essex then Mountview Financial Solutions is a right choice for you.

Hope, It helps.


Original Source:- https://www.quora.com/What-are-the-pros-and-cons-of-term-life-insurance/answer/Ranjit-Singh-3890/


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